Record an expense
Put a cost incurred on an owner behalf against a unit, reducing their payout.
Start: Expenses Result: a cost on the owner’s statement that reduces their payout.
Steps
- Go to Expenses.
- Add the expense with its Date, Description, Category and Amount ®.
- Attribute it to the unit it belongs to. This is what puts it on the right owner’s books.
- Record the vendor and invoice date if you have them.
- Save.
Whose cost is it?
Deciding who bears a cost is a judgement call and it is yours. Putting a tenant-liable repair through as an owner expense quietly moves money from the owner to the tenant, and neither of them will spot it.
If the tenant is liable, it belongs on their account as a charge or an ad-hoc invoice instead - see add a charge to a lease.
Related
- Expenses and disbursementsWhat reduces an owner's payout — costs incurred on their behalf, your fee, and the payment you make to them.
- OwnersAn owner holds one or more units and receives what they earn, less costs. The owner view is a roll-up of the units beneath it.
- UnitsThe unit is where the money is anchored — one owner, one set of books, its own invoices and statements.