Overview
Creating an Expense is the one-step process for recording property expenses. You would only create expenses if you've already paid your vendors. Otherwise, create a bill first, and then when you pay it, create a bill payment.
The Steps
Create an Expense
To create an expense, click on the + Create New button in the upper left corner.
Then choose Expense, found under Other Transactions.
On the New Expense window, complete the required fields as follows:
Select Payee: Select the Tenant, Owner, or Vendor you are paying. You can also create new tenants, owners, or vendors if they aren't on your lists.
Reference: Use the default unique reference number, or enter your own.
One Time Expense: Make sure this is selected unless you actually do want to create a recurring expense for the same amount.
Expense Date: Select the payment date of the expense.
Pay From Account: Choose the bank account paying the expense.
Payment Method: Choose the payment method.
Check - Enter a check number if you already have your own checks sent outside of DoorLoop. Otherwise, select "Add to Print Queue" if you plan on printing the check out in DoorLoop. Read: Print a Check for more information.
ePay - Choose this to send a payment electronically if you have already signed up for Checkbook.io.
All other payment method choices require payment outside of DoorLoop.
Property: Choose the property incurring the expense.
Unit: (Optional) Select a unit on the property incurring the expense.
Category: Select the appropriate expense account for accounting and reporting purposes.
Description: Add an optional memo for the expense.
Amount: Enter the amount of the expense.
Add multiple expense lines by clicking on the + Add Line Item. You can remove line items by clicking on the trash can icon on the right side of each line item. The Property field will be filled in automatically for each new line item based on the initial property input.
Add any additional information in the Add memo section, or relevant files by using the Click here link.
Click Save when complete. (Or choose Save & New if you'd like to create more expenses.)
Next Step: If you choose ePay as the payment method, send the electronic payment to your recipient. To do so, follow the instructions here: Send a Payment to a Tenant, Vendor, or Owner
Things to Consider
An expense will accomplish the same accounting end result as a bill and bill payment, but all in one step, rather than the two-steps to create a bill and pay the bill.
The expense Memo field appears on printed checks and vouchers.
The Description you enter for each line item on the expense will appear on the check voucher.
If the expenses reoccur on a regular schedule for the same amount, you can also create recurring expenses.
You can create an expense to record Operating Expenditures.