Overview
Simple Fund 360 and Simple Invest 360 allows you to link income and expense accounts to an investment as required.
Rental properties commonly have multiple expense accounts such as Water Rates, Council Rates and Advertising. Simple Fund 360 and Simple Invest 360 contains over twenty different rental property expense accounts which can be linked to a property investment. Additionally, custom accounts can be added if the account does not already exist.
Instructions
| From the Main Toolbar, go to Accounting. |  |
| Select Chart of accounts from the list. |
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From the Chart of Accounts, using the search bar, locate the Real Estate account.
Code Account Description 72350 Farming Property 77200 Real Estate Properties (Australian - Residential) 77250 Real Estate Properties (Australian - Non Residential) 77300 Real Estate Properties ( Overseas - Residential) 77350 Real Estate Properties ( Overseas - Non Residential) -
Select the dropdown arrow to display the Sub-Accounts, then select the Rental Property from the sub-account list.
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From the Edit Investment Account screen, select More Details.
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Under the Linked Accounts section, select Add Linked Account to create a linked Income/Expense Account for the property.
- After adding the account, scroll to the bottom of the Linked Account table and search/select the appropriate income or expense account from the list.
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Select Save.
- Optional: If a particular Property income or expense does not appear, you can add the income or expense through the Chart of Accounts.