Using one bank account for several portfolio

[Zaid Badabwan]

Hello

About two weeks ago I made a post looking for rental property accounting software. I have selected Stessa because of the possibility to have separate portfolios each one with its reports including P/L and balance sheet. Does that mean I can use one bank account for all portfolios since rents and expenses of each one will be categorized separately? Or do I have to keep a bank account for each portfolio?

[Greg Scott]

If they are all in your name, it wouldn't matter.  If you have different entities for each, then it is much smarter to have separate bank accounts for each entity. 

I'm not advocating for entities.  There are too many people that get them and don't need them. There are others that get them but don't know how to manage them properly, making the effectively useless.  All I'm saying is if you already have the entities, it seem smart to separate the finances.