Hi all, i’m moving to Quickfile as it seems very powerful. I have a small property portfolio which I want to grow. I would like to know the best way to set this up.
I have 1 business bank account which i will integrate.
I loaned money to my LTD (directors loan) to buy property 1 then refurbished it (as uninhabitable), mortgaged the property and hand over to agent to let and manage. This process continues to build the portfolio using the mortgage proceeds to fund further purchases and again buying to refurb/refinance/rent.
What is the best way to add everything into Quickfile - I would like to be able to run reports on each property to see expenditure/income - i guess this is tagging each property as a separate project to achieve this? Or should I add each property as a separate bank account (as per my prev software)?
I would also like to keep a record of mortgage balances - would this be adding each property as a loan account?
How would you add the outstanding balances as mortgage loans and how would you add the property as assets to the company.
Any information anyone has would be much appreciated