Download our updated Rental Property Income and Expense Tracker Worksheet
We’ve posted an update to the spreadsheet
This spreadsheet will help you track the income and expenses for your rental properties. With it, you can create reports, including a Profit and Loss Statement (P&L) for each property or unit. You can also see how much you are spending by category. The spreadsheet is designed to do a lot of the basic work for you, while being customizable. Another change is that we have removed the password protection from most of the workbook in case you want to modify it.
There are several worksheets, or tabs, in the workbook (detailed descriptions below the slides):
These are more detailed descriptions:
– License and Instructions (this tab) – Provides basic instructions for using the workbook and provides copyright and license information.
– Expense entry – Used to enter expenses for your properties
– Income entry – Used to enter income for your properties
– Individual property report – Used to generate P&L reports for individual properties
– Portfolio P&L Summary – Provides a summary P&L report for your entire portfolio of properties
– Portfolio Category Summary – Provides a summary report of income and expenses, by category, for your entire portfolio of properties
– Expense Categories – Allows users to customize the list of expense categories that appear in the Expense Category drop-down lists on the Expense Entry tab
– Income Categories – Allows users to customize the list of income categories that appear in the Income Category drop-down lists on the Income Entry tab
– Property Unit list – Allows user to enter a customized list of their properties or units in a property.
You can download the spreadsheet from our website. Send us an email if you need assistance.
Here is a download link:
Rental P&L Worksheet
How to use the spreadsheet
The first thing you should do is update the list of properties on the Property Unit tab with your property and unit information. Enter each property and unit, on a different row in the first column of this tab. How you name your property is up to you. In the examples, addresses are used.
Next, you should update the information Expense Categories and Income Categories tabs to reflect those expenses and income categories that make sense for your business. It might be a good idea to talk to your accountant or bookkeeper. Examples are provided for many common categories. You can delete entries by selecting one and clicking the delete button on your keyboard or right-click the entry and select “Clear Contents”
Once you have the correct list of properties and the correct categories, start entering your expenses and income in the proper tabs. There is an example entry at the top of each entry worksheet as a reminder of what goes in each column. That example cannot be deleted. There are also several ‘real’ entries in each sheet that provide further examples. You can clear these entries or type over them.
The Portfolio summary reports are created automatically. Just view the worksheets to see the reports.
For the Individual Property Report, choose one of your properties from the drop-down list in the third row of the “Income and Expenses by Property” report. This will cause each of the reports on the page to update with information for that property. You can sort data in, and print, each report separately.