Expense recording for multi family property.

[Jeffery Allen penick jr.]

I recently purchased a 5 unit building in my hometown. I am getting a late start on my books and was needing some help when it came to recording expenses for the building.

I understand that when I spend money for a door knob in unit 2 that I record that on my unit 2 spread sheet. But I need help with the following:

What about when I have an expense pertaining to the entire building? Do I divide by 5 and add it to each units spreadsheet? Or should I keep a separate spread sheet four the building as a whole?

What about utilities? They are included in the monthly rents so do I divide the monthly payments by all 5 units, or just by the occupied units?

Should I just use one spread sheet for the entire building and just record all income and expenses from each unit on one spreadsheet?

Any input is appreciated. I have tried searching the forums but to no avail.