How To Add Expenses In UnitConnect

Adding Expenses in UnitConnect: Step-by-Step Tutorial


Hello, this is Nathan with UnitConnect Property Management Software. In this tutorial, we are going to be covering how to add expenses to different properties as well as past those expenses to related tenants. So here I’m in the main dashboard in a demo account, and I’m going to start by going to the properties tab here in the top menu.

Once I’m in the properties page, I’m going to select the property in which I want to add expenses to and following, I’m going to go to my left hand side under actions and click property expenses. So here we’re on the property expenses page and we can see that we have several Tab’s property details, units, expenses, ledger and budget.

So I’m going to scroll down a little bit further so we can see everything on this page. And so we can see here at the top we have our expense filter so we can start by selecting our time period. So, for example, the last 30 days, our current year, last year. So in this example, I’m going to use the current year and we can select our operating account for the bank account and either all expenses or operating only expenses by toggling this back and forth.

And I’m going to select search. And so here we can see all of the expenses that we’ve added. We can see the date, the corresponding check number, the payee and the amount. And so I’m going to scroll down to the bottom. And so we can see the most recent transaction is on the 30th cheque, number 128 for a total of two hundred dollars.

And so if we wanted to add a new expense, then in order to go about that, we would use our add expense section of the page and we would start by adding a payee. So this is the vendors that we currently have associated with this property. If you don’t see a vendor or you want to add a new one, you can do that here at the bottom by either creating new vendor or creating a new account for a vendor.

And it’s also possible to link to an existing vendor that’s associated with another property. So in this example, I’m just going to select first class management. And so we’ll see that automatically. The number for the check is the next number in chronological order. So we can see the most recent transaction is check number one twenty eight.

And so we can see that check number 129 was generated. We can add a memo, we can the date automatically populates for today and we’re going to add our management fees. So a total of five hundred dollars and we are going to select management fees. But it’s also possible to select from other different categories. You know, so obviously we have many different options here, so I’m going to leave it at management fees.

Additionally, we can select whether this is an operating expense or whether we want to split this payment. So, for example, if we wanted to split it, then that would allow us to add another item. So, for example, let’s say that we wanted also to add, let’s say just as an example, an insurance fee. So we have five hundred dollars for management fees and an insurance, let’s say, is just one hundred dollars.

And so we’ve added those and now we can see that the total is reflected. Six hundred dollars. We have the option to pass these expenses to our tenants by toggling this right here. So would you like to pass the expense through to tenants, yes or no?

Yes. So if we want to pass that expense, then we can assign the amount as a percentage to the units that are associated with this property. So let’s say that in this example, we want to do 50 percent to the top two tenants.

Then that would split our cost of six hundred dollars in half, three hundred each. And so we can see that they’ve been assigned that amount. Additionally, we could change it and say we’re going to do forty percent to the first one, forty percent to the second one, and then 10 percent and 10 percent.

In that instance, we can see that the amounts are proportionally assigned based on the percentages that we specified. And then additionally, we can indicate which billing cycle to add this to. So currently we’re in the month of November and so we can either add it to this month’s billing cycle or the following months or any other month in the future.

So I’m going to leave it for November. Additionally, we can add expense documents. So, for example, let’s say, you know, you wanted to add an insurance document, you simply would click on the plus icon, select that document from your machine.

And so in this example, I’ll just add that as an example and we can see that that populates right here. Additionally, we would also need to add the income category for this example. I’m going to just add it as miscellaneous and click add.

All right. So now if I scroll to the bottom, we can see that our most recent transaction was added in the total of six hundred dollars. Check 129. If I select it now, I’ll be able to view all of the details related to this particular expense and we can see that right now I don’t have the ability to edit anything.

If you wanted to come back and make changes, then we can scroll to the bottom and select update mode, which is a toggling option. So we can see there’s two options here. So update mode now makes it so that I can make any additional changes if necessary. And then after making those changes, I can click update. And so now those changes are being saved. All right. That concludes how to add expenses within UnitConnect. Thank you for watching. And we’ll see you in the next video.