Overview

Creating an Expense is the one-step process for recording property expenses.


The Steps

Step 1

Click on the + Create New button in the upper left and choose Expense, found under Other Transactions.

Step 2

Complete the relevant fields as follows:

  • Select Payee: select the Tenant, Owner, or Vendor you are paying.

  • Expense: 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.)

  • Category: select the appropriate expense account for accounting and reporting purposes.

  • Property: choose the property incurring the expense.

  • Memo: add an optional memo for the expense.

  • Amount: enter the amount of the expense.

Step 3

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.

Add any additional information in the Add note section, or relevant files by using the Click here link.

Step 4

Click Save when complete. Or choose Save & New if you'd like to create more expenses.

FAQ

How is an expense different from a bill?

  • An expense will accomplish the same accounting end result, but all in one step, rather than the two-step create bill and pay bill process.


Where does an expense "Memo" show?

  • The expense Memo field appears on printed checks and vouchers.


Where do expense "Notes" show?

  • On Transactions List Reports, there will be a Notes column showing your expense notes.


Can I create recurring expenses?

Did this answer your question?