The quick read
Key points
- Use ownership and bank source documents.
- Agree on separate-book boundaries.
- Retain the naming and mapping decisions.
Inventory the real relationships
List property titles, owners, entities, bank accounts and management agreements using source documents. Identify which parties hold funds or pay expenses. Keep legal names and operating nicknames distinct so a reviewer can follow the relationship.
Agree on the bookkeeping boundary
Ask your accountant which records should be kept together and which require separate books. A portfolio is an organizational boundary in IQ, not the creation of a legal entity or a filing election. Do not combine records just to simplify a dashboard.
Use consistent identifiers
Choose readable names for properties, units and accounts. Keep a mapping of bank statement names and manager identifiers to the IQ records. Review ownership changes before changing a label that older reports rely on.
Keep structure decisions outside the app
Use qualified legal and tax advisers for entity selection, liability and filing questions. Save their instructions with your setup notes. This guide does not recommend an LLC, sole proprietorship or other structure and is not legal or tax advice.
Before you finish
- Use ownership and bank source documents.
- Agree on separate-book boundaries.
- Retain the naming and mapping decisions.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.