Introduction
LandlordMax allows you to keep track of all your expenses and revenues through Accounting Entries. You can then generate reports based on those Accounting Entries to show you the state of your finances. This also allows you to record amounts that are owed such as late rents which can be seen easily in reports such as the “Late rents” reports as well as the Dashboard to allow you to better manage and collect your late rents.
In detail, an Accounting Entry is any revenue or expense you wish to record. For examples, expenses associated with a building could include the costs of a new roof, property taxes, lawn maintenance, mortgages, and so on. Revenues are of course rents, but can also include things like parking passes, laundry machine revenues, and so on. For clarity, all revenues are displayed in green and all expenses are displayed in red in the program.
You can create two types of entry:
- One-time Accounting Entry are for a transaction that is generally a one offs such as fixing a toilet in a specific unit on a specific date.
- Scheduled Accounting Entry are for recurrent transactions such as rents that you want to automate