REI Hub offers several reports to help you summarize your numbers, assess your profitability, and prepare for taxes. The Schedule E export will show your revenues and expenses in the same format as the IRS form, as well as help you include mileage and pro-rate overhead expenses across your individual properties.
Some key things to know about the Schedule E report in REI Hub:
The Schedule E pulls off of the default Revenue and Expense accounts and their sub-accounts. If you have created additional Revenue or Expense accounts, that are NOT sub-accounts of one of the defaults, you should instead use the Net Income report instead.
View your overhead, or Portfolio level expenses, in the Net Income by Property report under the 'None Assigned' column.
To export your Schedule E:
1) Navigate to the Reports page and click on Schedule E
Click on 'All' under the Reports menu item
3) Select the Property and options
Make sure the appropriate tax year is selected
If you have entered any Mileage expenses, check the box to include them on your Schedule E export. They will roll in under the 'Auto and Travel' expense category.
If you have any transactions booked to the Portfolio level, check the box to prorate them evenly across all of your properties.
View transactions booked to the Portfolio level in the Net Income by Property report, under the 'None Assigned' column.
4) Click Generate Report to view, and Export to download as a PDF.
The Schedule E export will immediately download to your computer.
REI Hub allows you to add additional accounts and sub-accounts to your Chart of Accounts. Some important things to know: To ensure the Schedule E report works correctly, create new Revenue and Expense Accounts as sub-accounts beneath the existing ...
If you've recently begun using REI Hub to manage your rental property or real estate investments, you're in the right spot! Here, we've brought together support articles for our core functionality, helping you get up and running faster. Getting ...
REI Hub offers three different ways to add transactions. You can link an account to have transactions imported automatically, you can add transactions manually one by one, or you can upload transactions from Excel in bulk- which this article focuses ...
After you have linked a bank account to REI Hub, or uploaded transactions from Excel, you are able to view a feed of your imported transactions. The act of 'booking' a transaction means that you are categorizing and adding that transaction to your ...
The Vendors feature allows users to track payments by service provider. Name, email, phone number, address, and tax identification number can all be recorded with the Vendor. In addition to property and expense categories, using Vendors can provide ...