Reporting
A T12 is a trailing twelve-month operating statement showing income and expenses for the last 12 complete months.
Updated Sep 12, 2026
Buyers, lenders, and owners ask for a T12 because it smooths one odd month without waiting for year-end. It should use the same accounts as your regular P&L.
A T12 is only as good as the coding behind it. If capital work sits in repairs, the T12 will overstate OpEx.
Unitz can produce trailing financials from the same ledger you use every month. See Financial Intelligence.
Budget vs actual (BVA) compares planned income and expenses to what actually posted, by account and period.
Net operating income is rental revenue minus operating expenses, before debt service and capital expenditures.
An owner statement is the period report of income, expenses, cash, and the net amount due to or from a property owner.
See this in the product: Financial Intelligence
Start with an account. Add your properties and finish setup at your own pace.