Rental Property Tracking

knightbon's Avatar

knightbon

01 Feb, 2018 01:17 AM

I am wondering the best way to track rental properties. I've created an expense account for Rental Property A, with subcategories for utilities, improvements, property tax, mortgage payment, etc. My question is, do I create income accounts for rental income and reimbursement of utilities or do I just apply a credit to the utilities when reimbursed?

Thank you!

  1. Support Staff 1 Posted by Ethan on 03 Feb, 2018 10:33 PM

    Ethan's Avatar

    There's no one right way, but I think you would want those to be separate categories. I'd presume you'd want to be able to create a report that would show things like the total amount spent on each utility, for example. If you're putting your reimbursements into that same category, reports for that category will just come to zero (assuming you are being reimbursed completely for these expenses). That doesn't seem that useful.

    Ethan
    Infinite Kind Support

  2. System closed this discussion on 05 May, 2018 10:40 PM.

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