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.
Complete the required fields as follows:
Select Payee: Select the Tenant, Owner, or Vendor you are paying.
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.
(The Check payment method allows for entering an optional check number and the ability to print the check later.)
If you select the ePay option, you’ll be able to send a payment electronically if you already have your Checkbook.io account set up for sending payments.
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.)
If you choose the ePay payment method, you’ll need to go to the next step in the process to finalize the payment.
Pay the expense via ePay using Checkbook.io
This step in the process is only necessary if you choose ePay as the payment method for the expense. You need to have Checkbook.io active to send an outgoing payment to pay the expense electronically through DoorLoop. Learn more about Checkbook.io.
To send your expense payment electronically, the first step is to click Accounting on the main menu and then click Send Payments.
Once on the Send Payments screen, you should see an entry in there from the bill pay you created before. Look at the Actions column and you should a link labeled Add Info. (You'll see this if you've never sent the vendor an outgoing payment before). Click it.
Here you’ll need to enable send payments for this payee you are sending the payment to.
Scroll down to the Email Settings portion and enter the tenant's Billing Email. This is where the eCheck will be sent.
(optional) You can also enable Ask the payee for a PIN before accepting this payment. If you enable this, you’ll need to provide a PIN Code and a Hint that will give the payee an idea of what the PIN is.
Click Save.
Under the Actions column, you should now see a Send link. Click it.
On the Payment popup, check to make sure all the information looks correct, and then click Confirm to send the payment.
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.