An LLC filing does not keep the money separate if the books treat that cash as belonging to a different owner.
Each bank account belongs to the entity that owns it. When cash moves from one LLC to another, each set of books should show the amount owed — due to one entity, due from the other — instead of a transfer that leaves the money in neither set of books.
Stateful keeps a separate ledger for each entity and ties an entity-owned bank account to that entity. A personal payment stays off the entity’s cash and is tracked as an amount owed to you.
Rent
Venmo and Zelle rent in the right LLC
Rent paid to a personal Venmo or Zelle account, with the LLC name in the memo, still lands in the personal account. A memo is not a set of books.
Collect through the tenant portal so the payment is recorded on the lease and posts to the entity that owns it. Cash or Zelle received outside the portal can be recorded against that same lease.
Online rent posts to the owning entity. A payment received another way can be entered on the lease it belongs to.
QuickBooks
One QuickBooks file per LLC
Owners end up with a company file for every LLC, or with classes and locations standing in for separate companies.
You want a balance sheet for each LLC without a file open for each one. When the books live in the product, there is no QuickBooks company to keep in sync.
Stateful keeps a balance sheet for each LLC in one login. The ledger is double-entry and built in.
Property managers
A property manager’s lump deposit
One deposit can cover several properties and more than one LLC, after a management fee and an amount held back.
Split the deposit by property and by the entity that owns the property. Record the fee and the holdback instead of booking the net amount as rent.
Record the deposit on the entity that received it, split the rent by property, and keep a fee or an amount held for another entity out of that entity’s rental income.
One login
The two-tool stack
QuickBooks plus AppFolio, or Baselane plus TurboTenant, means two logins and typing the same rent into both. The books and the rent ledger drift apart.
Rent collection, the tenant portal, your login, the books, and the landlord app belong in one plan.
Stateful is that plan. There is no second system to reconcile the rent against.
Included
One plan for the books and the rentals.
Separate double-entry books for each LLC
Per-property profit and loss
Balance sheet per LLC
Rent collection
Tenant portal
One investor login
Android app with mileage and receipt capture. iPhone coming soon.
Schedule E per property
No unit limits
Investor plan
$15/month or $144/year.
A 30-day free trial, with no unit limits and no per-entity fee. A payment method is required to start the trial. Cancel before it ends and nothing is charged.
Yes. A separate LLC keeps its own assets, liabilities, and equity. A tag on a shared file does not. Stateful keeps a separate double-entry ledger for each entity, and you work in one login.
Can I manage several LLCs in one account?
Yes. One Investor plan covers the LLCs and properties on the account. There is no unit limit and no per-entity fee.
Do I need QuickBooks?
No. The books are built in. There is no QuickBooks sync, because there is no second ledger to sync.
How does rent collected online reach the right LLC?
A tenant pays in the portal against their lease. The payment posts to the entity that owns that lease, not to a memo on a personal account.
How do I split a property manager's lump deposit?
Split it by property and by the entity that owns the property. Record the management fee and any amount still held back, instead of treating the net deposit as rent.
Is there a mobile app?
The Android app is on Google Play and includes mileage tracking and receipt capture. An iPhone app is coming soon.
How much does it cost?
The Investor plan is $15 a month or $144 a year, with a 30-day free trial and no unit or entity limits. A payment method is required to start the trial. Cancel before it ends and nothing is charged.