Sage advice from landlord Frank
When NRLA member Frank Mason began to jot down some notes for his daughter-in-law little did he know his memo would take six months to write and become a published book.
Sage is an accounting software system popular amongst landlords, and with his daughter-in-law keen to join the family business, Frank wanted to help her get to grips with it.
Unable to find a suitable textbook Frank, who owns 10 properties in Reading in partnership with his two sons, took matters into his own hands.
“I have been using Sage 50 in my businesses for more 20 years,” he said.
“When Katie, my daughter-in-law said she wanted to join the property business I could not find a single book that explained the intricacies of property accounting with Sage - or any other accounting application for that matter.
“I started writing some notes for her and quickly realised they were becoming more and more voluminous. It is these notes that have formed the basis of the book.
“I am not an accountant, so I am not offering tax advice, I just want to simplify the process to help other landlords using the Sage system.”
The 72-year-old’s book is called ‘Property Accounting With Sage – With Worked Examples’ and is available on Amazon in both Kindle and paperback formats.
Frank, who has a background in IT and is in the process of setting up his own lettings agency, said he hopes the book will be useful for anyone learning the system or hoping to brush up their skills.
He said: “I have sent the book to Sage, which has yet to respond, but it has been peer reviewed by a banker, an accountant, an Independent Financial Adviser, a tax advisor and a fellow property investor.
“Nobody teaches you how to run a business. I started my first in 1978 and made lots of mistakes, so I want to help others avoid that.
“The book covers everything from starting up from scratch, reporting for repayment and interest-only mortgages and the differences between cash and accrual accounting.
“It also stresses the importance of keeping back-ups – and making sure they work.”
Frank, originally from Liverpool and now living in Reading, is a former technical business analyst and said that while this was his first foray into publishing, it might not be his last.
He said: “I have published a lot of documents in my career, but this was my first book and I have learned a lot.
“The publishing company I used is now keen for me to write another version, for cloud-based accounting software Xero.”
To find out more and to buy Frank’s book visit Amazon here.
