Note: This is a Microsoft Excel document. For this document to work correctly, you must have a currently supported version of Office installed on your machine.
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You are not required to consent as a condition of purchasing any goods or services. The business may rent out its own real estate as well as manage real properties for others. But, the worksheet does not account for real estate purchases or sales. The spreadsheet is easily adaptable to other types of rental businesses. The template is easily completed. That is another type of information and is available via other templates you can download here. The spreadsheet is flexible, however. Although not designed to serve as the sole source of accounting information for the business, it can be modified to include any information you feel you need for your rental property bookkeeping.
By diligent use of this spreadsheet, the owner or their manager can follow the financial progress of the business as it moves through a twelve-month fiscal year. But the template can be adjusted for any twelve-month period desired. There are fourteen tabs in this model. The monthly January-December numbers will not need to be filled in on this tab.
However, you will need to fill in your Company Name and the Year for which you are using the model at the top. If you prepare an annual budget, you may also enter that information in the appropriate column. But this column is entirely discretionary. Its use is up to you. Also, you will need to enter the names of your Income and Expense sources in column C.
See the image below:. These entries are the source for the names that are used in the monthly tabs, and assure continuity of naming across ensuing months.
The template is built for up to five sources of income and up to twenty types of expenses. The names of the most common Expenses have already been provided, and you can add the names of the Income items on the Summary tab.
If you elect to use the Budget column, you can also review your YTD results against it to gauge your actual versus desired progress. The next twelve tabs are used to record your monthly business activities. The blank tab below is for January:. To save on space, our example shows only the top part of the tab.
However, the Income portion is formatted for up to fifty 50 different income categories. And the Expenses portion is formatted for two hundred discrete expense categories. Each monthly tab is formatted identically to all the others. Remember that these names are pulled from your Summary tab, so if you desire to adjust them, those changes will need to be done in the Summary. Here are examples of the drop-down tabs in use. Here you need to enter only the dates of the beginning and ending rental period, along with the per diem rental rate; the model will then calculate the rent due for you.
Finally, note that the Totals for Income and Expenses are displayed at the top of the tab. Check this total against your income and expense receipts to make sure that all transactions have been recorded. There are dozens of additional rows available for both Income and Expenses.
Our example has assumed that the company owns or manages five pieces of rental property. Some of these may fluctuate with the season, while others may remain stable throughout the year. In any case, the difference between Income and Expenses represents the Profit, provided on the Summary tab. And, by the end of the year, all twelve monthly tabs filed would be filled in. Also, we see that while some expenses vacillated according to rental activity, other expenses remained constant.
The result of all these activities was that the business made a profit in some months while generating losses in others. As mentioned above, this template is very useful for expense tracking, rental income tracking, as well as tracking of the rental property profits or rental property losses that results from its business activities.
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