Account Setup
Once you’ve created your account and added your first property (Quick Start), take a few minutes to configure your workspace. A well-organized setup pays off every time you pull a report or hand your CPA a tax schedule.
Profile Settings
Section titled “Profile Settings”Update your personal information under Settings > Profile:
- Name and email — Used for login and notifications
- Notification preferences — Control which alerts you receive (transaction imports, expense categorization, project updates)
- Time zone — Ensures transaction dates and reports reflect your local time
Setting Up Entities
Section titled “Setting Up Entities”Entities are the foundation of your RealBooks workspace. Every property, expense, transaction, and tax report rolls up to an entity.
What Counts as an Entity?
Section titled “What Counts as an Entity?”| Structure | When to Use |
|---|---|
| LLC | Most rental investors use a separate LLC for each property or group of properties |
| Series LLC | If your state supports it, each series can be a separate entity in RealBooks |
| S-Corp / C-Corp | Common for flipping operations or management companies |
| Trust / Land Trust | Estate planning or asset protection structures |
| Personal | Properties held in your individual name |
Adding Entity Details
Section titled “Adding Entity Details”For each entity, you can track:
- Legal name — The name on your operating agreement or articles of incorporation
- EIN / Tax ID — Required for accurate tax schedule generation
- State of formation — Where the entity was organized
- Entity type — LLC, S-Corp, Trust, etc.
Entity Limits by Plan
Section titled “Entity Limits by Plan”| Plan | Entities Included | Additional Entities |
|---|---|---|
| Free | 1 | — |
| Bird Dog | 3 | $2/entity/mo |
| DIY’er | 5 | $2/entity/mo |
| Mogul | 10 | $2/entity/mo |
| Executive | Custom | Included |
Adding Properties
Section titled “Adding Properties”Each property is assigned to one entity. Here’s what to include when adding a property:
Required Information
Section titled “Required Information”- Address — The physical property address
- Entity — Which entity owns this property
- Property type — Single-family, multifamily, commercial, mixed-use, land, etc.
Recommended Information
Section titled “Recommended Information”- Purchase price and date — Needed for basis calculations and depreciation
- Current estimated value — Used for equity and portfolio-level metrics
- Loan details — Principal balance, interest rate, monthly payment, lender name
Custom Attributes
Section titled “Custom Attributes”Every portfolio is different. Custom attributes let you tag properties with data that matters to your operation:
- Market or submarket (e.g., “Tampa Bay,” “Midwest”)
- Property class (A, B, C, D)
- Rehab status (Acquired, In Progress, Stabilized, Listed)
- Property manager name
- Insurance policy number
Custom attributes are available on paid plans and can be used to filter and sort your portfolio views.
Property Limits by Plan
Section titled “Property Limits by Plan”| Plan | Properties Included | Additional Properties |
|---|---|---|
| Free | 1 | — |
| Bird Dog | 5 | $1/property/mo |
| DIY’er | 15 | $1/property/mo |
| Mogul | 50 | $1/property/mo |
| Executive | Custom | Included |
Bank Linking
Section titled “Bank Linking”Connecting your bank accounts is the fastest way to get your expenses into RealBooks. Once linked, transactions import automatically and PennyAI categorizes them by property and expense type.
How to Connect
Section titled “How to Connect”- Go to Settings > Bank Linking
- Search for your bank, credit union, or credit card provider
- Authenticate through the secure connection window
- Select which accounts to sync
Tips for a Clean Setup
Section titled “Tips for a Clean Setup”- Link the accounts you use for real estate expenses. If you have a dedicated checking account or credit card for each entity, link those.
- Don’t link personal accounts unless you also use them for property expenses — you’ll end up categorizing a lot of irrelevant transactions.
- Mortgage accounts can be linked to automatically track loan payments, principal paydown, and interest.
If Your Bank Isn’t Listed
Section titled “If Your Bank Isn’t Listed”Most major banks and credit unions are supported. If yours isn’t available:
- Try searching by the bank’s full legal name
- Check if your bank uses a different name for online banking
- Reach out to support — we can look into adding it
Manual Alternatives
Section titled “Manual Alternatives”If you prefer not to link your bank:
- Upload bank statements — RealBooks can parse CSV or PDF statements
- Manual entry — Add individual transactions by hand
- Receipt scanning — Take a photo and let PennyAI extract the details
User and Role Management
Section titled “User and Role Management”On paid plans, you can invite team members and control what they can access.
Adding Team Members
Section titled “Adding Team Members”- Go to Settings > User Management
- Click Invite User
- Enter their email address and assign a role
Available Roles
Section titled “Available Roles”| Role | What They Can Do |
|---|---|
| Owner | Full access — manage properties, expenses, users, settings, and reports |
| Manager | Add and edit properties, manage expenses and projects, run reports |
| Viewer | Read-only access to dashboards, reports, and transaction history |
Common Team Setups
Section titled “Common Team Setups”- Solo investor — Just you as the Owner. No additional users needed.
- Investor + bookkeeper — Add your bookkeeper as a Manager so they can categorize expenses and reconcile transactions.
- Investor + CPA — Add your CPA as a Viewer so they can pull tax reports directly without you sending files back and forth.
- Investment partnership — Add partners as Viewers so everyone sees the same portfolio data.
What’s Next
Section titled “What’s Next”Your workspace is configured. Here are some good next steps:
- Tracking Expenses — Learn how auto-categorization works and how to train PennyAI on your preferences.
- Managing Entities — Detailed guide for managing multi-entity portfolios.
- Bank Linking — Troubleshooting tips and best practices for bank connections.
- Generating Tax Reports — How to pull IRS schedules and review them before sending to your CPA.