If you're using our Free Chart of Accounts template we recommend mapping your transaction categories in line with the following example.
Suggested mapping if you're using our free Chart Of Accounts template
Landlord Studio Income Expense Category | Xero Chart of Accounts |
Advertising | 6000 - Marketing / Ad Expense |
Auto and Travel | 8300 - Travel & Parking |
Cleaning and Maintenance | 7800 - Cleaning & Maintenance |
Commissions | 6120 - Other Professional Fees |
Depreciation | 8990 - Depreciation |
HOA | 7100 - Homeowners Association (HOA) |
Insurance | 7200 - Insurance |
Interest | 8600 - Other Interest Expense |
Legal Fees and Other professional Fees | 6120 - Other Professional Fees |
Management Fees | 7700 - Management Fees |
Mortgage | 7600 - Mortgage Interest Expense |
Other | 9100 - Other Expense |
Repairs | 8000 - Repairs |
Supplies | 7900 - Materials |
Taxes | 7300 - Taxes |
Utilities | 7500 - Utilities |
Mapping in Landlord Studio
After you've connected your Xero account you'll be asked to map the accounts. Below is an example of what that looks like:
Schedule E Expense Categories
The Landlord Studio default categories are, by default, designed to match the IRS Schedule E Form 1040. The expense categories for which are listed below:
Advertising
Auto and travel
Cleaning and maintenance
Commissions
Insurance
Legal and other professional fees
Management fees
Mortgage interest
Other interest
Repairs
Supplies
Taxes
Utilities
Depreciation expense or depletion
Other (list)