Updated over 7 years ago on . Most recent reply
Getting my accounting right
So I had two properties. I had two separate accounts for rental deposits. For checks and debit card charges, I used my first account. I used excel. Worked pretty well the past few years.
I'm trying to get into wave though. I sold my first property a few months ago and now just have one property.
It's my new years resolution to get my accounting super solid. Still thinking how to do this though.
Going forward, should I have a separate credit card for each of my properties? Seems like a huge hassle if we're talking 4+ properties.
In wave, I'm thinking to get this done right I'm going to have two set up two separate "businesses", one for each property. The first one would just be linked to the first account, while the second one would be linked to both (to get the cc and checks to feed in from the first account.)
Not sure though.