I know nothing about this software. I have an LLC with four properties: one residential rental, two commercial rentals and one farm. Is it possible to use this program to render P&L statements and cash flow reports for each individual property (for tax purposes) as well as the same statements for the LLC?
Thanks for your help.
Yes. There are several potential approaches, including divisions and projects. Download the free desktop edition and create a test company. Read the Guides to decide which features you want to use. Try it out.
I have it installed and, as yet, cannot see how to construct a cash flow statement which selects only those accounts pertaining to one property. There do not seem to be useable options available to filter or include selected accounts while still tabulating total expenses and income for just that property. I will try to persevere but I don’t think all the limitations are mine.
If you will indulge me for just a moment: How does one construct the following accounts under Expenses? An account Taxes and under that, the following sub accounts: Property One, Property Two, and Property Three.
As I already wrote, both divisions and projects could accomplish this. Did you read the Guides, including the previous versions (since new versions are works in progress)?
You also seem to have inappropriate expectations for the cash flow statement. If you are inexperienced in accounting, that financial statement is probably the hardest to understand. Dividing it as you suggest is essentially not feasible. It would be meaningless.
Read the Guide about building a chart of accounts.
I am more than willing to do what you suggest, however, if I go to Guides>>Chart of Accounts, other than the original screen with the subheadings: Balance Sheet Accounts, Profit and Loss Statement accounts, etc, NONE of the links on that page have any content. Is the “Guides” information only available on the cloud version of the software? Have I missed something that failed to install?
The “old” guides are available here www2.manager.io/guides
Thank you, I’ll find and use them
That link is on the main list page for the new Guides, right at the top.
1 Like