Expenses and vendors

An expense records money you pay to a vendor. Each line goes to an expense account and either to an owner’s statement or to your property manager statement.

The Expenses menu has three tabs: Overview, Recurring and Vendors.

Add an expense

1. On Expenses, click Add expense.
2. Enter the date, a description, the vendor and the status. A paid expense needs the payment date and the bank or credit card account it was paid from.
3. Add one line per listing or reservation, with the expense account, the amount and the line description.
4. Check Bill to owner to put a line on the owner statement. Leave it unchecked to put it on your property manager statement.
5. Save.

The line description appears on the owner statement when the line is billed to the owner.

To copy an expense, a recurring expense or a deposit, open the menu next to it and select Duplicate.

Record an expense from the bank feed

On Bank Reconciliation, select the unmatched bank record and create an expense from it. VRTrust fills in the amount, date and bank account. Add the vendor, the listing or reservation, the expense account and Bill to owner, then save. The expense is matched right away.

Markups and taxes

• Tax on the expense: click the amount, then Select tax, and pick a tax rate or add one with Other Rate - Add tax rate.
• Markup: click the markup field of a line and enter the markup. The markup is always billed to the owner. Click Select tax there to tax it.

Example: a 100 dollar expense with a 10 dollar markup and 15 percent tax on both bills the owner 126.50 dollars. The vendor gets 100 dollars. The markup and the tax go to you, through the accounts of the tax rate.

Receipts and attachments

Open the expense, click Edit and add the file. Turn on Share with owner to let the owner open the file from the statement. Leave it off to keep it internal. Attachments show in the expense view and in the Quick view drawer.

Import expenses from CSV

1. On Expenses, click Import and upload your file.
2. Map each column to a VRTrust field: date, payment date, description, status, bank or card account, contact, bill ID, currency, listing or reservation, line description, expense account, bill to owner, amount, markup and markup tax.
3. Check the preview. It flags each row with a problem and names the field and column. Fix the file and upload it again until the preview is clean.
4. Run the import. The result lists what was created and what was skipped.

Rows that share the same reference become one expense with several lines. The import only creates expenses. It blocks a file that was already imported, unless you give a reason. Enter charges as negative and credits as positive amounts. For contacts and listings, use their reference IDs, see CSV imports.

Locked lines

A line on a published owner statement or before the books closed date is locked. The other lines of the same expense stay editable. The date locks when any line is on a published statement.

Matching an expense to a bank record locks only the amount, the date and the bank account. You can still change the expense account, description, bill to, listing or reservation and markup without breaking the match. The Locked due to label names the reason.

Change many expenses

Select expenses in the list to Update their payment status or bank account, Refresh journal entries or Remove them. Removing cannot be undone.

Vendors

On the Vendors tab, click Add Vendor and fill in:

• Vendor type: individual or business entity, with the entity classification for US vendors.
• Name, email, phone and address. The email identifies the vendor in CSV imports.
• Tax ID: TIN, EIN or SSN, used for 1099 reporting.

The menu next to a vendor holds Edit, Archive and Delete. A vendor with posted transactions cannot be deleted. Archive it to hide it, and filter by Archived to bring it back. Export downloads the vendor list as CSV. Select several vendors to change them together.