How to Use Accounting Reports to Take Control of Your Business: Intro
With your accounting system up and running, you’re doing more than just collecting rent.
You’re also collecting data, valuable data that you can use to improve the success of your business.
The issue: if you don’t know how to organize and view that data, you can’t take advantage of it.
That’s why, in this section, we’ll cover:
- Accounting reports every landlord should know about (and why they’re so important)
- Why you need a monthly accounting cycle (+ how to set it up)
- How to prepare an annual review of your entire property business
- And how to set up owner statements to keep your owners happy
Reports aren’t the most exciting topic, but once you see what you can do with them, they’ll become your best friend.