LLC transactions, not property specific, portfolio-level expenses

New to Stessa this week. I have setup all my properties in Stessa. I have back-recorded all transactions starting 1/1/2022.

I now have many transactions which are not specific to a Property. How do I reflect these?

My initial thought was to set up my address with $1 purchase and $1 valuation and record all LLC transactions(expenses) here.

Any help is greatly appreciated!
-George

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I would also be interested in this. I have a single LLC that will incur costs that are not property specific, but the only purpose of the LLC is to be the beneficiary of each land trust. Do I need to use completely different software to record these occasional non-property specific transactions?

Hello all, I’m new to STESSA, Great Product!!
I am also interested in categorizing transactions not specific to a single property. A couple of examples:

  • bank service fees
  • LLC fees such as annual report.

Please advise how we can track these transactions.

Thank you!

I have set up a new property which I named in Stessa with the same name as my LLC. I valued it at $1 and assigned a cost of $1. I now enter all my LLC costs(transactions) under this “property”. I have used it for meals, advertising, business cards, LLC fees etc…

George Moilanen
248.417.1854

1 Like

The approach you’ve all taken here will certainly work, but may have other unintended consequences in terms of notifications for incomplete property info, etc. The best practice is actually to use “portfolio expenses” and simply assign these expenses at the “portfolio-level” instead of to a specific property.

Here’s how it works: