Here are a few best practices to make the most out of Azibo Accounting:
- Edit multiple transactions at a time
- Make bulk edits to multiple transactions at once, including adding category or property tags, or splitting transactions. For example, you can split and categorize 12 months’ of mortgage payments into principal, interests, and escrows in one step! Learn more here.
- Comingling personal and business funds makes bookkeeping messy. The ideal method is to have dedicated bank and credit card accounts for each of your portfolios, while keeping your personal expenses separate. Luckily, Azibo allows you to connect all of your bank accounts and debit/credit cards for your properties. Watch a guide here!
- If you’re collecting rent or paying vendors via check, cash, or payment apps like Zelle or Venmo, keeping track of your transactions and maintaining tax compliance is a pain. Use Azibo to consolidate your rent collection and bill pay into one platform to stay compliant and automatically reconcile income and expenses into reports.
- An Azibo bank account is free, fast to open, and offers features and perks designed for landlords. More importantly, it further simplifies reporting as you can assign an Azibo account to each property or portfolio, then manage all your rental transactions and financial reporting with a single login.
Disclaimer: This content has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for accounting or tax advice.