Expense

Use this form to record and view expenses for your properties. You can also record here any income that is associated with a unit or building that you did not receive from a tenant in the form or rent or other payment. For example, here you could record laundry income, a refund from an insurance check, owner input of cash or other miscellaneous income. You can record and view the expenses/income based on the individual unit that it relates to, or you can enter an expense/income that relates only to the building itself.

You can view all of the expenses and miscellaneous income for a unit, a building, or for all properties combined.

You can import expenses from Quicken, Microsoft Money (or any other software that can export to a QIF formatted file) to RentRight!

To choose the building or unit the expense/income will be related to	Press the down arrow beside the description box. An outline of your buildings and units will be displayed. Click on the unit or building desired, and its address will be displayed on the top of the EXPENSE FORM. You can now record or view your expenses and miscellaneous income for this unit or building.
To make an entry into the Data Grid	First enter the date of the expense into the grid. Next in the Amount column, enter the amount of the expense. In the Check # column you can enter the check number, cash or name of credit card. Next tab to the Category column. A down arrow will be displayed. Click the appropriate income or expense category. Click the next column and another down arrow will be displayed. After clicking the down arrow you can choose "Yes" or "No" based on whether this expense will be depreciated. In the Payee/Contractor column, type in whom the expense was paid to, or push the down arrow to choose from a list of previously recorded contractors from the CONTRACTOR FORM. Each time you add a new payee you will be prompted whether you would like this new name added to the payee list. In the "Description" column, you can describe the expense in further detail. WARNING: As you are recording expenses make sure they are associated with the correct unit. The unit you are working in will be displayed on the top of EXPENSE FORM.
For quick recording of expenses	Tab to each field, then press Enter on your keyboard to select the highlighted options. The options will default to the last fields used. For example when entering electric bills for each building, the payee list will default to the electric company, and you only need to press enter in that field.
To edit the payee list	The payee list includes all payees you have typed into the EXPENSE FORM. To add change or delete payee names, go to Menu Bar: Edit. Click and highlight "Payee". A Data Grid will appear with the list of payees. Edit the list the same way as all data grids. To close the payee list, return to Menu Bar: Edit and highlight "Payee". The list of contractors is included in the "Payee/Contractor" dropdown box, and is generated from the CONTRACTOR FORM and can only be changed there.
To determine which building an expense is already linked to	Select any section of the Expense Record by clicking on its row. The help section of the status bar will display the current unit or building's address.
To move an expense from one building to another	Select an expense by clicking the left-most column to highlight it. Drag the mouse until all the expenses that you wish to move are highlighted. Right mouse click on the highlighted area of the expense(s), and your cursor will turn into a sheaf of papers. At the same time the building outline list will drop down. Drag the highlighted expenses by holding down the right mouse button while moving the cursor to the appropriate building or unit. Release the mouse when the correct unit is highlighted. When done correctly, a message will appear asking if you are sure you want to move the expense(s). Answer "yes".

To edit the expense categories	Push the CATEGORIES button to bring up the "Chart of Accounts" list of categories. Come categories such as Rent and Late Fee, or those with expenses associated with them, can not be changed. To add a new category, click New icon. Now fill in the form with an account number (if desired), name of the category, and any description. You can also choose to create a category as a sub category of another category.
To sort expense dates chronologically	Close the EXPENSE FORM.
To match imported categories with RentRight categories, to prepare for importing data	First, match categories from the imported data to the RentRight categories. For example, the category "Repairs" from Quicken can be matched to the "Repairs" category in RentRight. Highlight the RentRight category in the box on the left, move to the Import category box, and type in the categories you want to match. Add a ^ sign before and after the name of the imported category. NOTE: The category number is stored with the expense, not the category description. If you change a category description, any previous expenses will have their descriptions changed as well.
To import expenses into the EXPENSE FORM	Press the Import Expenses icon. Choose the expense file (*.QIF) you have previously exported (see Quicken or other software manual for help on exporting). A window with the exported expenses will appear. Find and select the expense file you want to import. A data grid of exported expenses will appear. Select one or more of these expenses by clicking the left-most column. Right mouse click on the import data grid and the cursor will change to sheets of paper. Drag them by holding down the right mouse button to the appropriate building.
To print reports of your expenses	Choose REPORTS from the toolbar. Then select the Building Financial Folder