By . Tracking Spreadsheet. At Thursday, May 06th 2021, 05:43:55 AM.
The electronic spreadsheets have become an office standard ever since the first such computer programs became commercially available more than 20 years ago. And with its popularity there has become a need for spreadsheet training to keep employees up to date with their knowledge and skills or using it. Back during the infancy of this software, most people would use it for just two reasons: to store data (especially customer database) and as a glorified calculator. Perhaps because those are a spreadsheets intended or more practical uses or that people are not really that trained to use its features to the fullest. You would even be surprised that up to now there are office employees who, when they are prompted to make some calculations, they would open their spreadsheet software and do the calculations there.
Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. Thats obvious. What isnt so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When youre building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you havent invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area. In most locations you also need to consider taxes. Are these charged up-front? As part of the mortgage loan payments? How frequent are they? When do they actually need to be paid? Are there any accounting costs? Can you use any tax credits or breaks? How do you calculate depreciation if that is a tax deduction? Taxes can be quite complex and you need them in your calculations or your investment value estimates will be incorrect.
A popular category of ready-made spreadsheets mentioned earlier, is Spreadsheets for Actors. Spreadsheets for Actors includes sets of programmed spreadsheets that are especially designed for professionals in the entertainment industry, from Actors to Producers. The spreadsheets under Spreadsheets for Actors range from facilitating the managing of budgets to keeping track of income emerging from many sources. Apart from these very popular categories, business owners can find various other types of spreadsheets solutions by collaborating with a prominent, reliable spreadsheet-solution-providing company and opt for the Personalized Spreadsheet; solutions that are especially designed to meet your imposed criteria, created from scratch, tailor-made and adapted to your particular needs.