Overview
If you pay expenses with a credit card, you can add your credit cards as accounts. Then, you can track the money you spend on the properties you manage, such as repairs, utilities, insurance, etc. You can also create one-time or recurring expenses with your credit cards.
The Steps
To add a credit card account to DoorLoop to track expenses, click Accounting on the main menu and then click Chart of Accounts.
On the Chart of Accounts page, click the + New Account button in the upper-right corner.
On the New Account window under the Account Info section, set the Type to Liability -> Credit Card. Enter an Account Name for this new account and a Description (optional).
Click Save.
(Optional) If you want to set an Opening Balance to the credit card that isn’t $0, head back to the Chart of Accounts and look for the line with your credit card on it. Click the 3 dots at the end and then click Edit.
On the Edit Account window, click on the Opening Balance tab and select the Accounting Start Date for this account. When you do this, you’ll see a new entry for the Account Balance. Enter your account balance as of the starting date. Next, you'll need to add the properties that have balances associated with this card and then distribute the balance accordingly. (Learn why opening balances have to be associated with properties.)
Click Save when you’re done.
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