Mi Property Portal’s accounting module uses five core categories (called Classes) to keep things organized and simple for property management:
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Assets
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Revenue
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Expenses
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Liabilities
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Equity
All accounting software follows these standard principles. The main differences are in how the user interface displays them.
Key Differences
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Classes: We show these five categories clearly upfront. QuickBooks and Wave do not—they group everything differently.
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SubClasses (our term): These match Account Type in both QuickBooks and Wave. We display SubClasses only after you pick a Class (e.g., only property-relevant Expenses appear under Expenses). QuickBooks and Wave show all Account Types at once.
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Note: Our SubClasses are tailored for property management, so we exclude generic ones (like manufacturing costs). Need a new one added? Contact support.
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Account Name (our term): This is the same as Detail Type in QuickBooks and Wave. It’s the specific line item under a SubClass (e.g., “Rent Income” under Revenue > Rental Income SubClass).
Quick Start: Add a New Account
Follow these steps to create a custom chart of accounts entry:
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Go to Accounting > Chart of Accounts > New Account.
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Select an Account Class (e.g., Expenses).
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Choose a SubClass from the filtered dropdown (e.g., Repair & Maintenance).
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Enter an Account Number (use a 5-digit code, like 40001 for easy sorting).
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Pick or add an Account Name (e.g., Plumbing Repairs), then Save.
Troubleshooting Tip: If a SubClass is missing from the dropdown, use an existing one or request it via support—our team adds property-specific options quickly.
By default, we pre-load over 370 property-focused charts of accounts. To add more, follow this guide.