How do I charge office expenses to my business and not a property? Add my business as a property?
I use 2 Stessa Cash Managment (CM) accounts. 1 is for the property, 1 is for the business. the business owns the property.
my one account is named: 123 ABC street CM account. This is where the rents flow into, and where property expenses are paid from.
My other account is named: Business CM account. It is where any business expenses (non-property-specific) come from.
This setup will change when the business structure changes. Right now the business and the property are the same entities, so I think that the way the accounts are setup is correct to match the business and property structure, but I am not totally certain. it’s just what makes most sense for me.
You can also just have one CM acct and just categorize it at the portfolio level, instead of the property level.