Are you collecting rent from your Tennant?
If you are a homeowner renting out your properties?
- Keeping In Alignment with the Landlord and Tenancy Branch.
Keep in mind that a rental income.
- a separate bank account reporting income/expense
- classifying expenses,
- Automate rent collection, payments etc.
The recording keeping of the transactions is especially easy if you hire a bookkeeping to set-up the rental properties expenses/income in QuickBooks Online.
Benefits Keeping Accounting records
- Keeping all receipts organized
- Never miss a bill payment
- Reduce taxes payable.
- Report income, ready for an audit
- Issues receipts to tenants, avoid fines.
Then what?
- You are in alignment with the LandLord and Tenancy Branch issuing receipts by email to your tenants.
- You can avoid delinquency issues, quicker response time to late payments.
Get help finding the right tenants, not skipping out on the rent payments.
READY! IT’s Tax Time
All the income, receipts, bills are collecting during the year, so you know how much net profit! Getting better a managing your time is money in your pocket, pay less taxes buying Self-Direct RRSP in first 60 days following the calendar year.
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