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Vacation Rental Setup for an Accounting Newb

PapiMikePapiMike Member Posts: 1

I have two short-term vacation rental properties, using two different bank accounts. I am NOT an accounting kind of person, and many of the terms in the software are confusing to me. I'm hoping that there is a template that I can use to set up Wave for my situation. My thoughts on what I would like to do:

  • I would like to be able to run reports on each individual property.

  • I don't need to do invoices or payments, but I am very interested in using the receipt capture feature to track expenses for each individual property.

  • I would like to keep things as simple as possible.

Suggestions on anything that will help me properly set up Wave would be most appreciated! Chart of Accounts, etc.

in Using Wave

Comments

  • Hot_GlassHot_Glass Member Posts: 45 ✭✭
    Set up as two different businesses in the upper left main website drop down menu.
    Very simple to just log into one property or the other and keep completely separate.
  • Coastal_CalmCoastal_Calm Member Posts: 1

    Watching...
    I am also looking for a simple Chart of Accounts to track a Vacation Rental property (STR) from initial purchase contract and mortgage through to operations.
    Does anyone have, or can suggest a template or account list?

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