When you manage a rental property, the rent deposit is only one part of the record. Repairs, insurance, fees and bills can arrive at different times, and a bank statement may not tell you which property or month a payment belongs to. A simple transaction log makes those details easier to retrieve.
Give every entry a property and a date
For income, record the date money was received, the property, the amount, and what it was for. Keep rent separate from other payments such as parking. If a payment covers more than one period or includes several items, add a note that explains it rather than relying on the bank description.
For expenses, record the property, supplier or payee, purpose, amount, due date, and whether it has been paid. A repair invoice dated April 8 and paid April 22 has two useful dates. Keeping both prevents an unpaid bill from being mistaken for money already spent.
Keep the document behind the number
Save the invoice, receipt, contract, or other supporting document where you can find it again. A consistent file name such as “2026-04-08_Unit-A_plumbing-invoice.pdf” can connect a document to its log entry. If you manage more than one property, use a separate folder or clear property label for each one.
The transaction log is an index, not a substitute for the underlying documents. Keep the invoices, receipts, contracts, and other records that support each entry. Check the retention and reporting requirements that apply to you.
Review received, paid, and outstanding amounts separately
At month end, compare the income entries with deposits received and the paid expenses with your statements. Then look at unpaid expenses and upcoming due dates on their own list. If $1,500 of rent and $50 of parking income were received, and $320 in repairs was paid, the simple cash difference is $1,230. A separate $180 bill that is still unpaid belongs in the outstanding list, not in that cash calculation.
That difference is a way to check your records, not a tax result. The treatment of deposits, shared costs, repairs, and other items can require more care than a basic tracker provides. Keep notes and supporting documents so a qualified professional can review them when needed.
The NeatLittleTools Rental Property Income & Expense Tracker is a Google Sheets option for recording income and expenses by property. Its dashboard shows current-year totals and upcoming unpaid expenses. It does not replace your receipts or provide tax filing advice.