I’ve been trying Stessa now for about one month and pretty pleased with the tool so far. I have maybe a strange category for a landlord, but maybe not. I rent an office for administrative purposes and cannot find a transaction category that properly fits this expense.
@cartlin This one is relatively uncommon among landlords, which is why there is no dedicated sub-category for rent/office expense. I would recommend talking to your CPA about where to put this particular expense.
You can always use the top-level “Admin & Other” bucket if there’s not a perfect sub-category available.
“Admin & Other” bucket requires a property address added. With multiple properties its not really applicable and the property entry is mandatory. Any advise on how to track it with adding admin expenses but not linking to a property? After all its most of the time overall business expense … totally lost thinking another software just for that tracking
I had not thought of this in my initial question, however I just checked and you can apply it to your portfolio rather than one address. One thing along the same lines is it must come from one account… so there’s that also linking to one property. But you can apply it to the overall.
For admin or other overhead expenses that apply to multiple properties, your options are to Split the line item or simply assign it at the Portfolio level instead of the Property level.
This article may help: Assigning Transactions & Reporting: Portfolios, Properties, and Units
I have 3 portfolios but one business. The business expense is the tax category that is applicable to all portfolios but it’s not intuitive in Stessa. Work around creates churn and is subject of duplication in other software. It would be very helpful to have Stessa as a one stop for recording expenses related to property management business overall