Investment Property

[AmandaJ]

Hi, Hoping someone can help with regards to entering monthly transactions for a commercial investment property, details below.

Property purchased by a company (registered for GST) 

Property is tenanted and managed by an Agent. 

Receive monthly summary detailing income/outgoings. 

I just want to clarify that this is the correct way to record: enter income via Recieve Money - to include rent charged and any service costs ie owners corp, water, rates and a Spend Money for the corresponding outgoings ie owners corp, water, rates, agent fees etc, the difference of these being the income. Recording all with appropriate GST codes. 

Thanks in adavance,   

[Tracey_H · Accepted solution]

Hi @AmandaJ 

Thanks for your post. From an AccountRight perspective you could enter either Spend/Receive Money transactions or Sales/Purchases transactions. That will depend on how you want to track and report those transactions. For example, Spend Money transactions won't appear in the Supplier card or in supplier reports.

I'd recommend speaking to your accountant about how to record those transactions to best suit your requirements. If you need help with the accounts and tax codes you will need to get that information from your accountant also.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.