What software to use to apportion interest from LOC on diffirent IPs?

[ipalla]

Hello everyone.

It would be intresting to see what softwares people using to apportion interest from LOC on different IPs.

My accountant want us to have different LOCs for different IPs, but I read here that you can apportion it.

Manual method is very inconvenient, but what about softwares?

Can anybody point me to a direction? I just got MS Money but could not figure it out how to do it. Any other software people use for this purpose?

Thank you,

 

[Rolf Latham]

Hiya IP

welcome

A simplistic XCel spreadsheet will do that for you

If you need help, yell, coz I know people here have done them

ta
rolf

 

[DavidMc]

I think it's best to have different accounts. It probably a good time to set them up now.

You can also Offsets instead of LOC's if you like.

 

[Yerfdog]

Hi Dave & all,

Got a question.

If you transfer all you LOC fund a offsets accounts, any idea how would ATO treats the 'purpose' of the interests generate in the LOC.

E.g. if you have $300k in a LOC and have two IP with Offset accounts, say A & B. If you transfer $150k to Offset A and $150k to Offset B. Although it will save you some interest for Loan A and Loan B, how about the interest being charged in the LOC that has been transfered to Offset A & B? How can we pass the 'purpose test'?

Cheers