Common Pitfalls of Accounting for Vacation Rental Property Managers

Common Pitfalls of Accounting for Vacation Rental Property Managers

Not Using Tracking Categories. Likely the most common pitfall is using separate accounts to track properties instead of tracking categories (i.e. locations or classes in QuickBooks). Using separate accounts instead of tracking categories creates several challenges, including difficulty setting up owner/property reporting and banking rules. In addition, if you use a PMS that syncs with…

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