Hi, I’m new here and enjoying Stessa. So every month I transfer leftover income from my property to a High-interest baring account to aid me with purchasing more properties but I’m stuck with how it should be categorized. Should it be labeled as " owner contribution" “owner distribution” or neither? also, would it be recommended that I link my high-interest account to stessa? Thank you for reading and help.
@melserbonilla Good question. I would actually recommend categorizing these as “Transfers” since you are simply moving money from one account to another. You can always just use the top-level category if none of the sub-categories is a perfect fit.
The Owner Contribution and Owner Distribution options are really designed more for owners connecting to third-party property management accounts.
Also, if the savings account doesn’t handle any transactions related to the actual real estate, I would probably not link it to Stessa. Any interest earned in a savings account probably shouldn’t play into your analysis of rental property performance. Hope that makes sense!
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Thanks for replying. Makes sense to leave the Savings account unconnected and just categorize it as just “transfer”. Thanks again I’m enjoying the simplicity of Stessa 