Originally posted by @Soh Tanaka:
@Nathan Dehn Does Stessa allow you to keep track of how much mortgage interest you paid and how much principal you paid? If it's automatically categorizing the mortgage payment, then it sounds like it doesn't do that, unless it's really sophisticated and automatically calculate how much is interest and how much is principal.
I use excel to do this. I enter the monthly interest just like on your spreadsheet, which goes toward the monthly expenses of the property. I enhance the spreadsheet by adding a further calc at the bottom of each month that subtracts expenses from the rent, then also the principal paydown which is automated based off the interest input. Then I know how much claimable expense I have for the month, as well as how healthy it is doing (cash in pocket) for each month too.
I like yours as it looks like it follows the IRS list of expenses for your rental. Mine is organized the same way. I print out the end of year totals, in an easy to read cover page for my accountant, with attached receipts and documents. I do one for each property. It doesn't take long for my CPA to submit my taxes at all.
I enjoy playing with excel and have a ton of spreadsheets. I find Apple's Numbers hard to use, have not tried Google sheets. OpenOffice is a reasonable substitute and the price is right.
