A real estate reporting line represents one property in Worthic. It is the organizing layer that connects the property to its transactions, accounts, documents, reports and permitted users. This lets you review one property on its own while still including it in combined workspace reporting.
Adding a real estate reporting line
Only a workspace owner can create, edit or delete reporting lines.
1. Open Settings.
2. Select Reporting lines, then Real Estate.
3. Choose Add Real Estate reporting line.
4. Enter the property name.
5. If your plan includes Real Estate management, choose either Management module or Cashflow only.
6. Complete the available property settings and select Create and next.
7. Choose the transactional accounts the property will use. You can link existing accounts or create a new one.
8. For a management-enabled property, continue to the mortgage step and link or create a mortgage account if applicable.
The number of reporting lines you can add depends on the workspace plan. Worthic prevents creation once the plan limit has been reached.
Cashflow only or Management module
Cashflow only is intended for separating and reporting a property’s income and expenditure without running its operational records in Worthic. The line remains available in the Dashboard, Accounts and Documents areas. Transactions can be assigned to it, documents are filed under it, and it can be included in cashflow reporting. Cashflow-only properties do not appear in the dedicated Real Estate workspace.
Management module adds the dedicated Real Estate workspace and creates a linked value-tracked property account. It supports portfolio and property performance, bookings or tenants, units, assets and depreciation, cost-base records, property transactions, managed expense and deposit accounts, linked liabilities and property-specific reports.
Where management is included in the plan, capability is selected separately for each property. This means one workspace can contain fully managed properties and cashflow-only properties. A managed property can later be changed to cashflow-only if operational management is no longer required but its cashflow reporting should continue.
Available settings
The settings shown depend on the workspace plan and the selected capability.
For a management-enabled reporting line, you can configure:
- Name: the property’s display name.
- Base currency: the currency used for property-level reporting.
- Property value: an optional opening value for the linked real estate value account.
- Real estate type: short-term rental or long-term rental. This changes operational terminology and workflows, such as bookings and guests versus leases and tenants.
- Jurisdiction: the country relevant to the property.
- Financial year end: the month used for annual property reporting and depreciation views.
- Guest or tenant management: enables occupancy records.
- Multi-unit: enables separate units and unit assignments. It is available when guest or tenant management is enabled.
- Asset tracking: maintains the property asset and depreciation register.
- Cost base tracking: maintains a tax-supporting capital cost register.
- Expense account: enables the managed property expense account.
- Guest and tenant deposit management: enables the guest or tenant deposit ledger.
- Ownership: allocates the linked property value account, expense account and deposit account among personal or business reporting lines for net worth reporting.
- Value auto-adjustment: optionally increases or decreases the recorded property value by a percentage or fixed amount on a monthly, quarterly or annual schedule from a chosen start date.
A cashflow-only line uses a simpler setup. It keeps the property name and workspace reporting currency, but does not expose the operational property type, registers, managed accounts or dedicated Real Estate workspace.
Managing an existing line
Go to Settings → Reporting lines → Real Estate → Edit Real Estate reporting lines, then expand the required property.
From here, an owner can:
- rename the property;
- change its capability, where the plan permits;
- update currency, type, jurisdiction, financial year end, active features and manage guest or tenant deposit accounts;
- review or change ownership of the linked property value account;
- link or unlink transactional accounts and liabilities;
- review accounts owned by the reporting line;
- grant or remove member access; and
- delete the reporting line.
Renaming a line also updates its Worthic document-library paths. Existing records remain associated with the property.
Account usage and ownership are different. A transactional account may be used by a reporting line to classify transactions, while ownership determines how an account contributes to net worth or balance-sheet reporting. Mortgage accounts are linked as liabilities, and Worthic prevents the same mortgage from being assigned as the mortgage of another real estate line.
When Real Estate is not enabled
If real estate reporting is not included in the workspace plan, Real Estate appears as not included in Reporting line settings, and a new real estate line cannot be created. Worthic displays an upgrade route instead.
If real estate reporting is enabled but management is not, properties can be created only as cashflow-only lines. They continue to work across Dashboard, Accounts and Documents, but the dedicated Real Estate workspace and management settings remain unavailable.
If management is enabled, each property can use either capability. The Real Estate navigation becomes usable when at least one accessible reporting line is set to Management module.
Reports and records
Management-enabled properties support monthly cashflow statements, annual profit and loss statements, occupancy reports, guest lists, assets and depreciation reports, expense and deposit account statements, and cost-base reports. Reports are generated for the selected property and period and are retained in the document library for later access.
Property documents follow the reporting-line filing structure, keeping records such as statements, invoices, receipts and reports associated with the correct property. Linked transactions and documents remain intact when optional managed features are disabled and become visible again if those features are re-enabled.
Deleting a reporting line
Deleting a reporting line archives it. Existing transactions are not deleted, but the line’s account access and account ownership are removed from the deletion date.
For a managed property with a linked value account, Worthic asks whether to:
- keep the value account as a standalone asset for net worth reporting; or
- delete the property and archive the linked value account.
If you only want to stop operational management, switch the property to Cashflow only instead of deleting it.