How to use tracking for divisions or rental properties in Xero (pre March 2025)

You dont need multiple accounts

Do you need to create rental statements or divisional reporting?

You need:

1. To set up tracking
2. To use one account, not multiple

Example:

1. A trust operates a consulting business
2. The trust also has 2 rental properties
3. The owners want to see the profit for each property

Video Explainer Here

OR.

Read the steps below.

Set Up

Required:

1. Accounting / advanced / tracking
2. Create a category and call it "Property" or "Rental" or something that suits you
3. Create options for each property
4. Property 1 = 11 Shirley Ave
5. Property 2 = 13 Lauren Ave

Required:

1. Just one account for all income and expenses
2. NOT multiple

Process

Now that you have these tracking categories, you can post transactions to each property.

Reporting

Now you can use multiple income statements or rental statements.

1. Click "add report"
2. Choose rental statement
3. Filter the category for the property you want
4. Rinse and repeat