Banking app for all properties

What expense tracking software do you use?

I started with tennant cloud, thats what I also used for rent collection, ect. Then I went to quickbooks and linked all my accounts and credit cards so it flowed into quickbooks and just had to be reconciled. That worked but I still had a disconnect from operations like rent collection and maintenance tickets. I was using multiple different software programs and it was clunky. Now, I use appfolio for everything. It’s my core system for operations as well as accounting. I go close out the books once a month. If things are linked correctly, you are forced to reconcile every penny so you never have missing expenses. It’s not perfect but it’s the best we have so far. We run one operating account and every expense out of that account is just tied out to the correct building or unit. We have over 200 units today and this system is working at that size.

The separate logins are annoying for sure but I agree with this, the tagging part is where the real headache lives. When I was tracking everything in spreadsheets I wanted to throw my laptop out the window every tax season. Good bookkeeping software that pulls from all accounts and auto-tags saves more sanity than a single login ever could

You also want to spread it around multiple banks - overconcentration (assuming you have mortgages on multiple properties with one bank) could result in loans getting called.

A few landlords in threads like this land on the same setup, keep the bank accounts separate per LLC for liability reasons, but link them all into one login through your bank or credit union if they support it, and lean on your bookkeeping software to be the actual single pane of glass rather than the bank itself. The real unlock isn't one login, it's having every transaction tagged to a property/unit as it comes in so you're not reconstructing per-property P&L by hand at tax time. If you're still doing that reconciliation manually, that's usually the bigger time sink, not the number of logins

I use GNUCash as the accounting software for my properties. It's a full features accounting package reasonably similar to QuickBooks but free including updates. I have my chart of accounts set up to separate income and expense accounts under each property for accurate reporting. My bank will link all accounts under a single login and then you only need to select the account you are working with from a drop down list.

I had my credit union link all llcs under one login so I had one dashboard with them all and could move money around as needed. Eventually, as I grew I just went to one operating account which simplified things immensely. This is the way as long as you have good expense tracking software

I'm tired of logging into a different account and bank each time for a different property. Why did you feel this was necessary in the first place?

chase business checking (currently they have bonus for new accounts)

I have a business account with Relay. It works very well. I have a bunch of rules set up to automatically move money with minimum thresholds. Each account also has its own card, so it’s easy for me to categorize transactions and keep things straight. It dramatically reduces my bookkeeping burden.

Live Oak Bank is what I use for my LLCs. All listed in the same place no having to change log ins.

Bank of America, you can get a single sign-on that shows you all your accounts I have like 20 bank accounts and a single login lets me do everything with all of them If you just want to see the accounts and activity you could use something like Monarch.