Managing multiple bank accounts and accounting for them

[Brody Veilleux]

I have a savings and checking account for my llc, and each property, all under the same banking app. I also have a separate mortgage account for each property. When you add the accounting into all of this, it’s been quite the headache for me to manage where everything is going. My biggest issue is that I’m using personal funds as owner contributions to these accounts and money moves from account to account on a consistent basis, so I’m trying to be diligent in proper accounting. Does quickbooks or any other software allow me to consolidate everything to one app and automatically input my accounting, with reports?

[Basit Siddiqi]

More bank accounts will require more accounts to be connected to your accounting software.

I personally don't like to have a checking account and savings account for each property(If you have 10 properties, that means 10 checking accounts, 10 savings accounts, 10 account numbers to remember, 10 checkbooks, 10 debit cards, etc)

However, it will make using the class function easier when you do your books.

Best of luck.