Chart of accounts
A chart of accounts is a created list of the accounts used by a landlord or property manager to define each class of items for which money or the equivalent is spent or received.
Type of accounts
There are five main types of accounts in accounting: assets, liabilities, equity, revenue and expenses. Each type is a categorization and has a unique role.
By default ManageCasa includes in it’s Chart of Accounts, accounts like
- Accounts payable
- Rent income
- Owner draws
- Late fees
Every financial transaction that you as a user record in ManageCasa will be applied to one or more accounts. By selecting the type type of transaction
And then by selecting the account you define how the transaction is being recorded within ManageCasa in accounting and how it is presented in the reports later.
Assets (Amounts a property/company owns)
- Bank account(s)
- Accounts Receivable
- Fixed Equipment
Liability (Amounts a property/company owes)
- Security Deposits
- Prepaid rent
- Credit Cards
- Pet Deposit
Equity (Amounts that are owned by a property owner)
- Owner contribution
- Owner draws
Income (Amounts that property earns)
- Association Fee
- Late Fees
Expenses (Amounts that a property spends)
- Management Fees
ManageCasa provides a Chart of Accounts within your Accounting Portal. You can filter your chart to view each individual account type, edit and organize line items, and hide and activate accounts based on your unique preferences.
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