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Updated over 5 years ago,

User Stats

14
Posts
7
Votes
Olga Merino
  • Laredo, TX
7
Votes |
14
Posts

Should you have a bank account for every property you own?

Olga Merino
  • Laredo, TX
Posted

My parents own 4 properties with a total of 37 units. I recently started helping them with the business and I want to help them organize their accounting better. 

My questions are:

  • How do you all do your accounting with multiple properties?
  • Do you all have multiple bank accounts? (one for each property)
  • Do you manage separate expense accounts for each one?
  • How do you all organize your accounting? are you very specific (assigning expenses to units themselves) or broad (assigning expenses to the property in general)?

Thank you in advance!

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