How to Post an Expense to a Property Ledger

Expenses related to properties, such as maintenance and repairs, can be posted to either the Property Ledger or the Bank Ledger. The appropriate ledger depends on the type of transaction.

Expenses posted to the Property Ledger will automatically be recorded on the Property Ledger and the linked Bank Ledger. Transactions entered will offer the following additional options:

• Charge the tenant
• Make the expense recurring
• Enter depreciable expenses

Expenses posted to the Bank Ledger are recorded in the Bank Ledger and in selected Property Ledgers. The following types of expenses should be posted to the Bank Ledger:

• Batch Transactions: For expenses that apply to multiple properties (e.g., a vendor payment for landscaping).
• Split Transactions: Transactions where different portions may apply to different categories and/or properties

Tip: Automatically enter expenses to the Bank Ledger by scanning a receipt. Click here to learn more about the AI receipt scanner.

The following steps walk through posting an expense to a property ledger.

In your Rentec Direct account: 

1. Click on Properties 
2. Right-click on the Property and select Post Expense from the menu
3. Enter the details of the transaction. Be sure to indicate the correct Category.
4. Charge Tenant: If the tenant is responsible for the expense, use the dropdown to select the tenant to automatically add the charge to the tenant ledger (example: repairs to property)
5. Attach Files: Click this link to Attach Files/, documents/photos (PM accounts will also offer the option to share with the property owner)
6.  Recurring - If this is an expense that will be recurring, check the Recurring Box
   1. Set the Frequency of how often the expense should be posted to the ledger
   2. Set the Begin Date for the subsequent transactions
   3. Setting an End Date is optional
7. Depreciate - If this expense is depreciable, check the Depreciate Box
   1. Using the dropdown, select how many Years the improvement is depreciable
   2. Enter the Begin Date
8. Click on Post Expense