I’m not sure if this is a bug or not, but it seems like one to me. I followed the instructions in the most recent article of how to track purchases, sales, and refinances (Track Purchases, Sales, and Refinances | Stessa Help Center). This guide says I should categorize my final sale price “Income > Sale Proceeds” (separate issue: I think the guide meant to say “Transfers > Sale Proceeds”).
After doing this, I looked at the Net Cash Flow report and expected to see transactions I marked as “Transfers > Sale Proceeds” in the new “Purchase, Sale, & Refinance” section. Instead, it currently shows “Sale Proceeds” in the “Transfers” section of the report which doesn’t seem right to me. I’m expecting to see all purchase/sale/refi activity in the “Purchase, Sale, & Refinance” section.
@nross83 Thanks for reporting this! Yes, good catch, the help article should say “Transfers > Sale Proceeds.” This has now been updated. We’ll take a closer look at the other issue and post an update here once resolved. You’re correct that the Sale Proceeds category should indeed show under the new “Purchase, Sale, & Refinance” section.
This bug is now resolved and the “Transfers > Sale Proceeds” category now shows under “Purchase, Sale, & Refinance” as expected. Thanks for your patience!
@devin shouldn’t this be the same for the category Transfers>down payments? I put a earnest money down payment on a property of $10,000 on a $157,500 property I purchased recently. I received a loan of $155,000 at closing. Including closing costs the total amount due at closing was $160,955. At closing I received a check for $4,045 ($10K deposit plus $155K loan proceeds less $160,955). This means that on day one of owning the property I have positive cash flow of $4,045. But if I categorize that $4,045 as Transfers > Down Payment it is not included in the cash flow report. If I calculate it as Proceeds it makes the loan look higher than it is. How can I demonstrate in the reports that I invested $10K of my own money and account for the $4,045?
@timothytdelaney The “Transfers” categories are for tracking only. These line items will not show up on any reports or metrics in Stessa. “Transfers > Down Payments” is intended to track the transfer of funds required for closing purposes, but it does not eliminate the need to also record:
The full purchase price as “Capital Expenses > New Acquisitions”
The new loan amount as “Mortgages & Loans > Proceeds & Payoffs”
All relevant closing costs
Collectively, these will net out to the proper cash in amount / down payment, which is then accurately reflected on your Net Cash Flow report.
Same here. Sold 2 properties lately and recorded the proceeds as instructed but the Dashboard still shows massive negative cashflows for those months as they don’t count towards income. Is there somewhere else it needs to be recorded?