Overview
Expenses created in DoorLoop are usually paid with your operating account and recorded automatically. If you pay an expense with a credit card instead, you'll need a couple of extra fields to record it properly.
This uses the same New Expense window as creating a standard expense — the only difference is the Pay From Account and Payment Method fields.
The Steps
To create an expense that you paid with a credit card account, click Create New at the top of the main menu. Then under the Transactions section, click Expenses.
On the New Expense window, set the two credit-card-specific fields:
Pay From Account — Choose the Liability > Credit Card account you created in your Chart of Accounts that will be paying the expense.
Payment Method — Choose Credit Card as the payment method.
Complete the remaining fields (Select Payee, Reference, One-Time Expense, Expense Date, Category, Property, Description, Amount) the same way as creating a standard expense.
Click Save when complete.
If you have expenses on other properties that you also pay with the same credit card, repeat these steps for each property.
How Does Paying an Expense From a Credit Card Account Appear on the Cash Flow Statement?
Expenses paid with a credit card account appear as a line item under Expenses on the Cash Flow Statement. However, because this was paid with a credit card, you need to reflect the fact that this is a payment made with someone else's money — money that hasn't come out of your Operating Account yet.
Because of this, you'll also see this payment under the Adjustments to Reconcile Net Income to Net Cash category with its own line item (the specific credit card account). This is a positive amount that balances out the negative amount from Expenses so it doesn't affect your actual cash flow.
Example
We created a $200 expense (security) on four different properties. This is reflected on the Cash Flow Statement report on the Security line item under Expenses, showing -$800.00. Normally this would be correct if you used a payment method that came straight out of your operating account.
You'll notice a corresponding positive $800.00 line item under Adjustments to Reconcile Net Income to Net Cash (in this case, the credit card account used), which balances out the negative amount from Expenses so it doesn't impact your actual cash flow.
To remove this item from your Adjustments to Reconcile Net Income to Net Cash, you'll need to record that you paid off the credit card with the corresponding bank account. See Record That a Credit Card Has Been Paid Off Using a Bank Account Transfer to record this payment.