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!
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