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:

  1. Advertising

  2. Auto and travel

  3. Cleaning and maintenance

  4. Commissions

  5. Insurance

  6. Legal and other professional fees

  7. Management fees

  8. Mortgage interest

  9. Other interest

  10. Repairs

  11. Supplies

  12. Taxes

  13. Utilities

  14. Depreciation expense or depletion

  15. Other (list)

Read our article to learn more about these expense categories here ➡️

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