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Updated 4 months ago,
New owner, bookkeeping question!
Hi All,
I've recently acquired a few properties and have started using Stessa (since I get it for free with a BP Pro membership) for bookkeeping. All of my properties are being managed by a property manager and it seems that I will get my owner draw one month AFTER the rent is paid. So for example, for September I won't see that money until early October. That in and of itself isn't an issue, I'm more asking how should I record that? Ideally I want the money collected to be accounted in the month I'm paying the mortgage so I can get a better sense of my monthly cashflow month over month, but that means I will need to record the draw I receive in October in September so things all line up nicely.
Anyone have any thoughts on that?