Keeping rental statements, receipts and bond evidence together can make it easier to review your property records. Whether you use a spreadsheet or a dedicated app, retain the original documents and check the figures you record.
This guide explains how to use the PropAlly Free Plan to organise records for one investment property. You can keep your property manager and use PropAlly for your own records, or use the same tools if you self-manage. The software supports record organisation; it does not certify tax accuracy or legal compliance.
Free includes one property, three manual PDF imports and five expense extractions per month. You can upload a rental statement, review the extracted dates and figures against the original, correct anything that needs attention and save it against the property. Ongoing inbox automation is paid: Email Lite is available for Free and Starter, while Pro and Business include an email-document allowance. Check current pricing before choosing a plan or importing a larger batch.
Key Takeaways
- Keep rental statements, expense records and supporting evidence organised for review.
- Utilise the PropAlly Free Plan to access professional cash flow and tax monitoring for your first investment property at zero cost.
- Choose a record-keeping workflow you can maintain, and check entries against source documents.
- Use Free's limited manual statement imports; ongoing inbox automation is a paid option.
- Compare property limits and document allowances before upgrading as your portfolio grows.
Why Keep Your Property Records Together
A property record system should help you find the documents behind your income and expenses. The ATO's rental property guidance covers declaring income, claiming expenses and keeping records. A digital hub is one way to organise those records; it is not a requirement to replace a spreadsheet.
The PropAlly Free Plan provides tools for organising agent statements, bond evidence and receipts for one property. Keep the originals and review your records regularly. Organised records can help with later review, but they do not make a property or tax return audit-proof.
Checking Entries in Any System
Manual entry can introduce mistakes, and imported data can also be wrong. Check totals and dates whichever tool you use. If you keep a spreadsheet, maintain supporting documents, backups and a clear process for updates.
Record individual transactions such as rent received, rates paid and maintenance expenses. Review the dashboard against the source records so missing or duplicated entries can be corrected.
Records to Prepare for Review
The ATO lists managing-agent statements, bank statements and expense receipts among relevant rental records. Keep evidence of the supplier, amount, nature and date of an expense. See the ATO's record-keeping guidance and check the requirements that apply to your circumstances.
Record dates, amounts and categories alongside the supporting documents. Check with your accountant if an expense's tax treatment is unclear. Software categories and checklists are organisational aids, not a determination that a deduction is available.
Inside the PropAlly Free Plan: Professional Features at Zero Cost
The PropAlly Free Plan supports one property with no ongoing plan charge. It includes the core modules, with usage limits such as the manual PDF-import and expense-extraction allowances described above. See current pricing for the full plan limits.
Core Dashboard Capabilities
Use the income and expense tools to review the records entered for your property. Bond evidence tools help you keep lodgement details and documents together; recording them in PropAlly does not lodge a bond or prove that a state authority has accepted it.
State compliance checklists can help you organise tasks and evidence. Confirm applicable requirements and due dates with the relevant state authority and qualified professionals. A checklist or reminder does not establish that an inspection occurred or that a property meets its legal obligations.
The Power of the Add-on Ecosystem
Free includes limited manual PDF imports and expense extractions. For ongoing inbox automation, Free and Starter members can add Email Lite for AUD $9 per month, including 100 documents. Pro includes 500 email documents per month and Business includes 2,000. Review extracted figures against the original documents before relying on them, and check current pricing for allowances and available top-ups. Web prices include GST; App Store prices and purchase options may differ.
Choosing Between a Property App and a Spreadsheet
A spreadsheet may be suitable if you can maintain it and retain supporting evidence. A dedicated app can bring records and documents into one workflow. Compare the organisation, access and export options you need rather than assuming either format guarantees accuracy.
The important question is whether the records explain the amounts reported and can be retrieved when needed. Software does not replace source documents or professional advice about tax treatment.
Practical Record-Keeping Checks
Review how your chosen system handles corrections, document storage, backups and reminders. These capabilities vary between products and configurations. Keep a separate record of important due dates and check relevant state requirements.
- Source evidence: Retain the documents supporting recorded amounts.
- State requirements: Confirm the rules that apply to the property's location.
- Regular review: Check missing documents, corrections and upcoming tasks.
Digital Transformation for the Private Landlord
Use consistent income and expense categories to make review easier. Check suggested classifications against the underlying transaction. Repairs, improvements and other costs can have different tax treatment; ask your accountant where needed.
For background on document workflows, see How to Automate Rental Property Data Entry for Your Australian Portfolio. On Free, start with the manual import allowance described here and review the extracted information before saving.
How to Organise Your First Rental Property Records
Add your first property and its Australian state, then upload a rental statement using your Free manual PDF allowance. Compare the extracted dates and figures against the original, correct anything that needs attention and save. Ongoing inbox automation requires the paid Email Lite add-on on Free or Starter, or a Pro or Business plan.
Check income and expense categories as you review each statement. Keep the original document and supporting invoices. If you are unsure how a cost should be treated for tax purposes, ask your accountant rather than relying solely on an automatic classification.
Setting Up Your Compliance Hub
Use the checklist and bond evidence tools to organise relevant records for your property. Confirm due dates and requirements separately, and retain evidence of completed work and bond lodgement. An entry in the app is not certification by an authority or tradesperson.
Reviewing the Cash Flow Dashboard
Compare the income and expenses recorded in the dashboard with agent statements and costs you pay directly. Investigate missing, duplicated or mismatched entries before relying on a report. Our rental-property records guide provides further context; consult the ATO and your accountant for tax requirements.
A useful first task is one property and one reviewed statement. You can get started with PropAlly today, then return when the next statement arrives to keep your records current.
Beyond the Free Plan: Scaling Your Property Portfolio with Confidence
Use the Free Plan to try the record-keeping workflow for one property. If you need more properties or higher document allowances, compare the paid plans with your actual requirements.
Additional properties bring more records to organise. Check each plan's property cap and processing allowances before upgrading; no plan removes the need to review the underlying information.
Growing Your Portfolio to Two or More Properties
The PropAlly Starter Plan supports up to four properties in one account. You can organise income, expenses and supporting evidence across those properties. Review the current plan details before upgrading.
Unlocking High-Volume Automation
Pro includes 500 email documents per month and Business includes 2,000. Additional document credits are available; check current pricing for the options and allowances. Review extracted information and resolve anything that needs attention.
The Business Plan supports up to 20 properties. Its tools include:
- Bundled email-document processing, subject to its monthly allowance.
- Tax-summary tools to help prepare records for review.
- Compliance checklists for organising tasks and evidence.
- Income, expense and document records across the supported properties.
Whichever plan you choose, retain source documents and review recorded information. PropAlly does not guarantee a tax deduction, compliance outcome or investment return.
Keep Your Records Current
Start with a small, repeatable routine: add a statement, review it, correct any differences and save. Keep your agent involved where appropriate and ask for missing documents when needed.
Calculations and checklists depend on the information recorded and the requirements that apply to your situation. They support organisation and review; they do not replace advice from your accountant, agent, lawyer or qualified tradesperson.
Start with one property free, then review your first statement against the original before relying on the saved records.