Purchase Transactions

A. Mj | email Mar 9 2017, 10:20 AM

How to enter and record a purchase transactions for a particular property ?
Please advice.

For example purchase price is 100000, and there are 2 payments against that each valuing 50k.
Please advice.
Stephane Grenier | email Mar 12 2017, 03:10 PM

Firstly please note that LandlordMax is a single accounting entry accounting system which means that it doesn't keep track of the value of your assets. Therefore if you want to purchase a property outright then this means that the two payments will appears as big lump sum transactions.

That being said you can just enter the payments in as any other standard transaction, by creating an Accounting Entry as shown in Section 3.2 of the user manual at: http://www.landlordmax.com/support/index.php?pg=kb.book&id=2 It's basically treated the same as you would treat a mortgage payment, a utility bill, etc.

Stephan Grenier
LandlordMax Software Inc.

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