When a real estate agency provides a single rental statement for multiple properties, reporting income for each property can be challenging. Ideally, ask your property manager to split the monthly statements, allowing you to create rules for easier tracking. If this isn't possible, manually add rental income for each property by selecting the 'Add' button in the income tab. Then, from the bank feeds, use the 'Find & Match' feature to allocate the income to the respective properties. This method ensures accurate income reporting and simplifies financial management across your portfolio.
Step 1 - Add Income for Each Property
Navigate to the income tab of each property.
Click the 'Add' button.
Step 2 - Complete Income Details
In the popup, fill in the fields to split the income amount and any adjustments (e.g. property management fees) for each property.
Ensure that the total in the 'Amount' field matches the bank transaction income amount received. For example Property A amount $1,000 + Property B amount $1,200 = Bank transaction amount $2,200.
Step 3 - Match Bank Feeds
In the bank feeds section, locate the rental income bank transaction.
Click the 'More' button and select 'Find and Match' from the dropdown menu.
Step 4 - Allocate Rental Income
Select the rental incomes that correspond to the bank transaction amount.
Click the 'Confirm' button to allocate the income correctly.
