Hi
we have a ltd company, renting properties, we have several properties, some with mortgages and some outright owned.
i have set up bank feed, so rental income, mortgage payments, repair payments, service charges etc are all shown.
but the actual properties, ie the value of each, the outstanding mortgages, and equity of each are not shown yet. i am struggling on how best to add these. i have read and searched as much as i can and it would seem there maybe several ways to do this, as such i am confused. so far i could possibly use one of the following
journals , 2.Projects, 3.Loan accounts
i found a “Landlord” page, but we are a ltd company, so this doesn’t seem to fit.
what is the best way to go with adding this data please? we were previously private landlords, then into a partnership, and now incorporated since April this year, and have had most of the properties for 20 years. i am new to this sort of software and accountancy/bookkeeping terms.
many thanks for any advice on this.
As you say there are different ways to do what you are trying to achieve (as with most things in accounts).
Your accountant would be best placed to give advice on this, we can tell you how to use the software but not how to do your accounting, as we are not registered accountants.