Inputting Repair Expenses into the Expense Tracker Tutorial
Learn how to input Repair Expenses into the Expense Tracker.
Input the Basic Expense Information
To input repair expenses, you will start by inputting basic expense information such as the date and description, how the payment was made, who it was made by, and who it was paid to.
For this example, we are going to input a Tiling Expense that will be paid to our tiling contractor.
This tiling expense was for a 50% down payment to get the Tiling work started, and was paid for out of our House Flipping Checking Account to our contractor, Affordable Rehab and Remodeling.
Now that we have input the basic expense information, we need to select an expense category for the expense.
Selecting an Expense Category
The Expense category column has a drop down menu, with a list of all 24 repair expense categories.
We are going to select Tiling from the drop down menu, which will designate this expense item as a Tiling Expense.
Once we input the bill amount, you will notice that the Tiling Expense has been categorized to the Tiling Expense category in the Scope of Work breakdown.
Expense by Scope Report
This expense information is then used by the Expense by Scope report which automatically populates and sorts the expenses by each scope category, so you can review your detailed expense information for Each Scope of Work.