Accounting help to allocated expenses to each property-

[Cynthia DeLuca]

I am looking for ideas on how you allocate different expenses between different properties. I am property managing my properties and currently have 31 of them, so I'm not getting a cash flow report from a property manager. My bank is asking that I start getting more detailed with my Quickbooks so they can see what each property is doing versus the entire portfolio. I use Tenant software but don't use it for my accounting, only to track tenants and payments, etc. I don't want to create an extra 20 hours of work for myself each week, as we have so many transactions happening. Any thoughts, suggestions, ideas, software options, etc, would be greatly appreciated. Looking to brainstorm here...

[Carl Fischer]

@Cynthia DeLuca

Use QBs and make each property a different class. Rent and expenses are allocated to each property fairly easily. This is the majority of the bookkeeping  -banks love it and you can do a P&L per class/property  

Administration/overhead expenses can be prorated based on total income or time. Your CPAs can help here.