Setting Up Tracking Categories for Properties

  • Updated

If your business operates within the Asia-Pacific or Europe regions, you may encounter regional-specific terms like "GST" in Asia-Pacific and "VAT" in Europe. For a comprehensive list of terms and their equivalents, please refer to our Glossary of Regional Terminology.

This article serves as a step-by-step guide for connected accounting customers on setting up tracking categories through the Manage Companies and Invoicing Settings. Additionally, you'll learn how to assign tracking categories to a property using the Property Details tab. Whether you're looking to better monitor financial performance or enhance reporting capabilities, tracking categories provide an effective way to organize your data.

Enabling Tracking Categories in Manage Companies

To enable tracking categories for your company:

  1. Access the Manage Companies section located in the main menu.
  2. Choose the company you wish to update from the list provided.
  3. Locate and select the Invoicing Settings tab within your company's profile.
  4. Scroll to the Tracking options, where you will find the option to enable tracking categories by switching the toggle to the 'On' position.
  5. Choose whether to add property-specific tracking categories or use existing categories from your connected accounting service.
  6. Make sure to Save your changes before exiting the Invoicing Settings.

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Attaching Tracking Categories to a Property

Once tracking categories are enabled, attaching them to a property is straightforward:

  1. Navigate to the Properties section via your dashboard or the main menu.
  2. Select the desired property from your property list to view its details.
  3. Within the Property Details tab, look for the Tracking Categories field.
  4. Click the field and a dropdown menu will appear with the enabled tracking categories to choose from.
  5. Select the appropriate tracking category for the property in question.
  6. After making your selection, ensure all changes are saved by clicking the Save button.

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Why Use Tracking Categories?

Tracking categories provide an array of benefits, including:

  • Enhanced reporting capabilities that allow for more granular financial analysis.
  • Improved organization of income and expenses across different properties or aspects of your business.
  • Streamlined reconciliation processes with easier identification of transactions.

By properly configuring and employing tracking categories, you can gain deeper insights into the financial performance of each aspect of your portfolio and make more informed decisions moving forward.

Empower your financial management with the strategic use of tracking categories, ensuring that every property's performance is accurately reflected and easily analyzed.

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