I receive rent disbursements minus monthly expenses from a third party system called Veem. How do I break out the expenses from the original income to track the expenses on the property? Do I add them in separately to the transactions page or do I enter everything into the tenant ledger?
If I add them to the transactions page, it will deduct this expense but it was already paid before receiving the disbursement.
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@amysnewton It’s generally your call whether you want to “gross up” the net distribution amount and then also log the third party fees/expenses as a separate line item. That will give you more insight as to what’s actually going on, but will require some extra manual steps.
A similar issue involving PM fees is already being discussed: How to translate net PM distribution into rental income and management fee
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Very helpful, thank you!
My next question (I am trying to fix my Stessa transactions to accurately reflect what is going on)…
Property taxes and insurance are paid in escrow in the mortgage. I know I can break that out from principle and interest, but when it comes to those escrows being debited, how do I categorize the transaction? Right now it looks like it was an extra payment when it is already being paid through the mortgage.
Thanks so much for your help. I appreciate it.
Best,
Amy
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