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Yes. The “MULTI LLC” plan includes a Balance Sheet and Profit & Loss Statement. A Balance Sheet is required for tax filings if you own property under a corporate entity such as an LLC. Otherwise, select the “Schedule E” plan if you don’t need a Balance Sheet.
Yes. Beaver uses double-entry accounting, just like QuickBooks and most standard accounting software. This means that, for every transaction, a credit and debit entry will be recorded on the general ledger. Beaver will create these entries for you, but you can always review and edit them.
Yes, you can! Please send your data in an excel or csv file to [email protected] and we’ll upload them for you. You can send us a general ledger, or any list of transactions showing the date, description, and amount of each transaction.
Yes, you can attach and save documents in many places on Beaver. You can save property-specific documents (e.g. deed, closing documents, insurance policy) under each property, tenant-specific documents (e.g. tenant’s application) under each lease, and transaction-specific documents (e.g. an invoice) under each transaction. You can also add notes for future reference.
Yes, some users use Beaver to collect HOA fees from owners, and bookkeep the received fees and property management expenses. By adding other owners as “members” on Beaver, they will have access to all financial information and saved documentation.
Yes, you can add as many LLCs as you like under your account, and create a Balance Sheet and Profit & Loss Statement for each LLC. We know that many real estate owners manage properties under separate LLCs and file tax returns for each LLC. That’s why we created this feature. Our fees are based only on the number of properties you own, not the number of LLCs.