| Leslie | email | Jan 23 2017, 08:55 PM |
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Hello, I have been using your program for almost five years and love it. The only thing I'm not crazy about, is there hasn't been a way to populate expense entries to a collection of units. Sometimes 10 or 12 units share an expense while the remainder do not. In this instance I have been manually dividing these expenses, then entering each unit individually; very time consumptive. I did search your forum, and this question has come up and been answered in the past, but apparently not recently. I'm hopeful there is now an upgrade I can make, offering me a better solution. I hope all else is well and look forward to hearing from you soon. Best, Leslie |
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| Stephane Grenier | email | Jan 24 2017, 12:32 AM |
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Hi Leslie, There are a few things going on here. First if you have a shared expense over all your properties such as stationary, computers, etc. then what we recommend NOT assigning it to any property and instead assigning it to a special "Account" which you can then use to generate reports on and split as needed. This makes sharing expenses very easy and straight forward. Now onto the next phase which is much more complex. When it comes to expenses that are only shared by some units and not others, in this case the only option is to manually split the expense. Otherwise how can the software know which units the expense should be shared between? For example how does it know that units 2, 4, 7, and 8 share the expense? This has to be manually split. In addition to this, even if the software could split the amount how does it share it? If you say percentage what happens if one unit's share is a much larger percentage of the cost? If you say by rent value what if you're in a rent controlled city and the biggest unit is renting for the lowest rent? Basically there is no easy way to correctly split an amount consistently, which is why if you're going to split an expense over only a limited number of units it needs to be split manually. If however you're going to split an expense over all your units then you can just assign them to a special Account which you can then run reports against. Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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| Leslie | email | Jan 30 2017, 11:13 PM |
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Hello Stephan and Stephanie, Thanks much for your speedy response. For expenses posted against all of the houses, I will definitely start using the "Account" option. I hadn't thought of it, and it will definitely be a time and energy saver. Regarding posting expenses to some and not all of the houses, I will continue to break out the percentage and post each manually. Again, I have enjoyed using your software and have recommended it to others as well. Best, Leslie |
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| Stephane Grenier | email | Jan 31 2017, 02:34 PM |
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Hi Leslie, You're welcome for the speedy response. Thank you as well for the kind words about using the software, it's really appreciated. And would it be possible to use the part of your last message for our Success Stories and Testimonials page as well as our email newsletter. It's really great to be able to share such positive comments! Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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| Darryl E Givens | email | Nov 25 2017, 10:01 AM |
| I read this and wanted to get more clarification on how to set up a special "account" to spread expenses across all properties. If I want to charge a mower across all properties, exactly how do I set up a special account to do this. Thanks. | |
| Stephane Grenier | email | Nov 25 2017, 02:45 PM |
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Hi Darryl, You can either do it by using a custom Account. You would then not assign any shared expenses to that account when creating the accounting entries and instead run the report "Accounting entries for an account" to get all the total for all shared expenses. The following video shows how accounts work: https://www.landlordmax.com/releaseNotesV605/Accounts/Accounts.htm Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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