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Categorize your transactions
Assign each imported transaction to a property and an expense or income category so your reports and tax totals are accurate.
Categorizing is where a pile of imported rows becomes a clear picture of how each property is performing. Each transaction gets two things: the property it belongs to, and a category that describes what it was.
Assign a property and a category
Open Transactions and work through the uncategorized rows. For each one:
- Choose the property the transaction relates to.
- Choose a category -- for example rent income, repairs and maintenance, insurance, mortgage interest, property taxes, or utilities.
The categories line up with the buckets landlords use at tax time, so the totals you build here feed straight into your year-end numbers.
Work faster
- Assign properties in batches. Select several rows that belong to the same property -- a run of utility payments, say -- and assign them to it together. Categories are set one transaction at a time.
- Split when needed. If a single payment covers two properties, split it so each part lands on the right one.
Keep it current
Categorizing right after each import keeps the job small. Ten minutes a month is far easier than a marathon session every April, and it means your property financial summaries are always up to date.