Overview
While DoorLoop includes a handy Management Fee wizard that you can run every month to automatically calculate your management fees based on previously set rules, there might be instances where you might not want to use this and would rather create management fees manually. While most management fees are created as a Bill and a Bill Payment, you can also create them as an Expense.
The Steps
To record your management fees as an expense, click the + Create New button at the top left corner and then click Expense under the Other Transactions section.
On the New Expense window, fill in the relevant fields:
Select Payee: Select your Vender account for your PM company
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 option allows you to print the checks from DoorLoop to send to the vendor or vendors. Toggle off Print Later if you don’t want to print the checks from DoorLoop. This allows you to enter an optional check number for the check you actually send.
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. (Pro and Premium plans only)
Property: Choose the property incurring the expense.
Category: For this, you'll want to select Expense > Management Fees
Description: Add an optional description 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 to finish.
If you choose the ePay payment method, you’ll need to go to the next step in the process to finalize and send 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 will need to have Checkbook.io active to be able to send an outgoing payment to pay the bill electronically through DoorLoop. Learn more about Checkbook.io.
To send your expense payment electronically, 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 see 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 the 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. (Note that you cannot send a payment to yourself if you are using the same email as your current user login email.)
(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.
Next Steps