How to track income/expenses when income is net of fees

[Dan Turkel]

My property manager uses Appfolio. When I receive my rent payment each month, it’s put into my account as a single deposit. This number consists of the combined rent for all of my properties. It is also net of all expenses like repairs and management fees.

I’m trying to figure out a way to use something like Quickbooks or YNAB to track all of the income and expenses for each of our houses but when I come to the point in which I need to reconcile the account, things don’t line up. For example, if there was a $100 repair for property #2, there’s no transaction in my bank account that exists for it. The one deposit into my bank account is simply $100 less than it would have otherwise been.

I need to track the income and expenses on a property by property basis for tax purposes and I’m having trouble figuring out how to get around this issue. The lack of continuity between the appfolio report and my bank account is something that I would imagine other folks have dealt with.

Any advice would be much appreciated!