GL Coding

Generating a Schedule E when you have 10+ properties can get very time consuming and error prone. This gets even trickier when using multiple property managers who might use different owner statement formats. The result of this is that you or a book keeper/account might spend a significant amount of timing "coding" different transactions.

Appfolio Auto Mapping

This specific exercise was the main reason I created TrackMyRentals. The ability to intelligently code entries based on Appfolio GL codes, and generate a Schedule E was a significant time saver and removed the need to use spreadsheets and manual updates.

How it works

If scaling your rental portfolio strategy involves using Property Managers, the first step is to normalize the owner reports so that you get a version of it that includes the GL codes that the property managers use.

With this of codes, you can assign a TrackMyRentals "ledger code". (e.g. "Landscaping") to the Appfolio code used by your property manager (e.g. "6210 - Yard Maintenance") TrackMyRentals ledger codes all map back to a Schedule E codes (e.g. "Cleaning and maintenance").

Luckily, Track My Rentals does most of the work in terms of identifying the right mapping, but you can also change the mapping as you see fit.

Once you're comfortable with the mapping, you can instantly generate a Schedule E report, along with the other reports that we provide that focus on generating insights.

Questions

If you have any questions, feel free to email alan@trackmyrentals.com.

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