How To Record Expenses

Many property managers use PaTMa to keep track of their investment properties as a way of amplifying and gearing their returns by analysing expenses and income. PaTMa has the ability to record all mortgages and property values and display instant visual data of the information recorded. However, to make the most of this feature, you have to account for the expenses.

Getting Started

  • In the header, navigate to Manager.

You will be directed to a page listing your current properties.

Note: With the free version of PaTMa, you can only manage one property at a time. To add more than one property to your account. Upgrade to a Premium Account.

  • Click the Property Label you wish to account a payment for.

A page displaying the property's information will be presented along with details of the Property's Address, a Finance Summary, relevant rent payments and Tenancies etc.

  • On the property display page, click the navigation tab Expenses and then click Add Expense.

You will be redirected to a page displaying a form that you will need to fill in with the expense details.

Filling In The Form

Invoice Date

Enter the date by which the invoice was issued for payment.

  • Click on the field to enable the Calendar and select the relevant Date.

Date Paid

In this field, enter the date the expense was paid.

  • Click on the field to enable the Calendar and select the relevant Date.

Payment Method

Specify the payment method used (eg. Cash/Card).

Amount

Insert the amount paid in total.

Supplier

In this field, use the dropdown menu to select the Supplier for the expense.

Note: If this is the first time accounting for an expense, you will have to fill in a popup form with the supplier's name and details. In this case: - Click Add. - Enter the supplier's Name, Phone, Email, Hours and Notes etc. - Click Add to save the supplier.

Description

Add a brief description of the cause of the expense and any other essential details that aren't covered in the fields provided.

Tax Category

In the dropdown menu, select the most relevant tax allocation to the expense paid (eg. Legal & Professional Fees).

Document

Optionally, upload a scanned copy of the original invoice/receipt.

  • Once completed, select Save.
  • Alternatively, if you wish to continue on to create another expense, select Save + Enter Another