I currently have a Stessa account with multiple properties. Each property has it’s own bank account and mortgage company making assigning easy. However, I will be adding a new portfolio in the next month that will be comprised of properties purchase both cash and leveraged using same bank and account. How does (or does) Stessa recognize each individual property and assign individual transactions to that specific property when they are part of the same account, bank etc?
Thanks in advance,
@pathancockbroker Good question. Bank accounts can be linked to Properties on a 1:1 basis, or to Portfolios on a 1:1 basis, via your Data Sources page. If linked to a Property, then all transactions from that account are automatically assigned to the specified Property. If an account is linked to a Portfolio, then all transaction activity is auto-assigned at the Portfolio level, and each line item must then be manually assigned to a Property (or left at the Portfolio-level if you prefer). Setting a linked bank or lender account to “Import & Review” will bring in transactions unassigned, leaving each line item available for manual Property (or Portfolio) assignment.
For your proposed situation with multiple properties using a single bank account, I would probably recommend setting up a new Portfolio and connecting the account at the Portfolio level. That will give you some added efficiency and will also ensure your bank account balance shows up whenever you run a Balance Sheet report for the new Portfolio. Hope that helps!