The quick read
Key points
- Label the period and property scope.
- Record assumptions separately from booked activity.
- Retain each reviewed budget version.
Begin with a complete period
Export reviewed income and expense reports for a consistent property scope. Note missing statements and unusual events before using the totals. A budget based on an incomplete month can understate ordinary costs without making that omission obvious.
Separate recurring and unusual items
Mark which amounts recur, change with occupancy or relate to a one-time project. Keep loan principal, owner contributions and reserve transfers visible outside operating expense assumptions. Write the source of each estimate next to the number in your planning file.
Keep assumptions outside the ledger
A proposed repair budget is not a paid repair. Maintain forecasts in a clearly labelled planning worksheet and keep actual entries supported by real activity. IQ reports provide recorded figures; this guide does not promise an automatic budget forecast.
Compare on a repeatable schedule
At the next review, export actuals using the same dates and categories. Explain differences by amount and source rather than changing history to fit the plan. Save a version of each budget so later decisions can be understood.
Before you finish
- Label the period and property scope.
- Record assumptions separately from booked activity.
- Retain each reviewed budget version.
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.