The first line of the introduction in this book says it all:  “In this day and age, we’re lucky to have software that takes care of the nuts and bolts of property management accounting.  The second line puts everything in perspective:  “But even with software, you’ll find it much easier to keep accurate records if you have an understanding of the basic accounting concepts upon which these programs are based.”  This book does just that.

Before I jump into my full blown review, I feel that it’s relevant to include a little background.  I’m alright with accounting practices, in that I understand how money comes in and money goes out.  In addition, I’ve been using the Buildium software for around a year and a half now, and understand how to get the reports I want and need.  In college, I took Accounting 111, and passed with a C.  (My worst grade throughout my entire Bachelor’s studies, but hey, it counts.)  However, the intricate details of accounting were always a challenge to me.  I picked up this book partly out of necessity and partly out of curiosity to see if it could help me really get into the more intricate details of property management accounting.

The book is broken down into 3 main parts, with an introduction and an appendix.  Throughout the book, there are written explanations as well as charts of accounts and diagrams showing how the flow of the transaction works – everything is broken down step by step to provide an easy to follow path getting you from Point A to Point B.
The best part of the book, in my opinion, is that it builds sequentially.  The first chapter explains basic accounting terms, explains how the cash flow sheets work, and outlines the process a transaction goes through, from the time it takes place until the time you read it on a report.  The second chapter explains how books are kept for one property, and explains basic transactions such as recording rent and security deposits, paying bills, and managing security deposit funds at the end of tenancy (returning or applying to damages).  The third part of the book explains how the books work for a property manager, managing many properties.  This includes recording owner contributions and payments, collecting management fees, and other such tasks that a property manager would handle (assuming they wanted to stay in business!)

There is such a tremendous amount of solid information packed into the book that it will require at least a couple reads to really pick up on all the finer points.  In addition, it covers enough varying situations that it has earned a spot on my desk as a reference guide when I get stuck and need to answer a question.  I would certainly recommend “Property Management Accounting: A Survival Guide for Non-Accountants” to anyone who is struggling with the understanding of property management accounting, or for someone who wants a solid desk reference.  At a grand total of 82 pages, it won’t take up much room and the price point of $29.95 makes it a worthwhile investment in my opinion.

“Property Management:  A Survival Guide for Non-Accountants” can be found on Amazon.com.

I recently came across a product put out by D-Link, which plugs into the USB port on my computer and allows me to make Skype calls from a normal phone!  In addition, if I had a regular phone line, I could plug that in as well which would allow me to make and recieve phone calls from either line.  The ability to use a regular phone is something that I did miss, but with the addition of the DPH-50U, I have added a lot of versatility to my office.  You can use any regular phone with this device.  I purchased mine at NewEgg.com, for $19.99 on sale, and there was no shipping cost.  In addition, there was a $10 mail in rebate which I took advantage of.

Overall, I would say that the call quality I have had has been very good.  I’ve had a couple calls fade out for a second, but the interruptions have been minimal at best.

One of the biggest objections that many people have to the scanned signature concept is that of privacy and security – what if someone gets their hand on my signature?  Think about it from this perspective:  You sign so many papers that if someone really wanted to, they would find a way to get your signature.  Public documents contain signatures, and the pages can be copied for usually under a quarter!  Security of your signature can be a real farce!

What’s your opinion?  Would you scan your signature to save time?

Recently I’ve started using Google Calendar to help me track my day to day activities, as opposed to Outlook.  I wanted a calendar that was accessable from anywhere, since I’m not always at the same computer.  That was my primary concern, and it was also Google Calendar’s primary feature!  After using Gmail for several months (before I bought my domain and moved all my mail here), I realized that Google puts together an incredibly solid suite of programs designed to help us be more efficient.

Google Calendar offers many features and benefits, such as the ability to add multiple calendars and color code them.  I like this because it allows me to separate different activities.  In addition, it is incredibly easy to share your calendar with someone else and control what they can and can’t see.  For instance, I can share my main calendar with someone, and allow them to see and edit events, just see but not edit events, or only see that I’m busy.

In addition, sharing a calendar publicly is easy.  A few clicks gives you the URL that you can embed in your website, share via email, and much more.

The one problem that I initially ran into with Google Calendar was the inability to sync my schedule with my Palm, since my Palm syncs with my Outlook calendar.  Recently, Google released a utility that will let your calendar sync with Outlook, so this no longer remained a problem.  There are also utilities that will sync for your Blackberry and iPhone, for those who carry different technologies than I.

It’s certainly possible to set up a series of calendars for everyone in your office, which makes sharing events and meetings easy.  You can create an event on the calendar, and specify recipients that can respond as attending or not attending.  In addition, events can have reminders set up to pop up, so there is no excuse for “Oh, I totally forgot!”

In my experience thus far, Google Calendar has been an invaluable tool to help me stay organized and see where I need to be and when.  Give it a shot!