HI. I have a triplex. Some of the expenses apply to the whole place. Based on square footage, the percentages work out to be 39%, 39%, 22%. Example, if I do landscaping, then I break that transaction down with those percentages for the 3 units in the house. So my question is: is there a way to do this on a bulk level? If I have landscaping, water softener salt, and heating bills, can I select those 3 transactions, and bulk split them with my percentages as listed above? Or am I still stuck with doing each transaction separately every time?
I have this same issue with a couple different triplexes (some attached, some detached) and would love this function too! My work-around which I’ve been using for a few years now is to assign all expenses that should be split according to SF percentages to the property (either at the “Property” or “Portfolio” level, whichever is appropriate for your setup), while only assigning expenses specific to one unit to the unit directly. So at the end of the year I tell my accountant that all expenses assigned to this “Property” or “Portfolio” are shared expenses to be split by the SF percentages, and she can just split the total sums all at once to add to the unit specific expenses. It works fine for final tax accounting, but the disadvantage is that with all those expenses assigned separately to the Property as a whole in Stessa, I don’t get a complete Per Unit bottom line view within Stessa.
@bljccornell To my knowledge there isn’t a function to do this within the transaction split window.
My first thoughts were to not bother with this calculation unless you’re passing these costs back to the tenant. The total number is what goes on the tax return if its all the same, legal property. If your goal is to have true unit-by-unit reporting, similar to @avilarentalhomes’s comment, then splitting is necessary.
This is where Excel shines and would still be needed. I have a property spreadsheet I refer to for myself and for each of my bookkeeping clients. Some have situations where invoices need to be split amongst multiple properties. I have formulas set up to calculate them automatically. I just plug in the total cost and I get my answer with ease. Examples would be a portfolio loan, insurance, shared utilities.
Hope that helps.