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
Adding your credit card to DoorLoop
To add a credit card to DoorLoop, click Accounting on the main menu and then click Chart of Accounts.
On the Chart of Accounts screen, click the green + New Account button in the upper-right corner.
Under Account Info, set the Type of account 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 three dots at the end and then click Edit.
You can alternatively also click on Accounting, and then click on Banking. Look for the line with your credit card on it. Click the three dots at the end and then click Edit.
Go to 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.
Creating an expense with the credit card
On the Top Left-hand corner, click the + Create New button. Then under Other Transactions, click on Expenses.
Complete the relevant fields as follows:
Select Payee: select the 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 Credit Card > Liability account that you created in your Chart of Accounts that will be paying the expense (see here for steps)
Payment Method: choose Credit Card as the payment method.
Category: select the appropriate expense account for accounting and reporting purposes (most likely a Expense account).
Property: choose the property incurring the expense.
Memo: 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.
Add any additional information
Click Save when complete. Or choose Save & New if you'd like to create more expenses.
If you have expenses on other properties that you also use the same credit card to pay off, just repeat the above steps again for each property.