Expense Tracking

Record and categorize property and business expenses for accurate financial reporting

5 min read Property Manager Beginner
Manager Admin
Expense Tracking Interface
Expense Tracking: Record all property and business expenses in one place

Overview

Expense tracking in Boom PMS allows you to record all costs associated with your properties and business operations. Proper expense recording is essential for accurate owner statements, tax reporting, and profitability analysis.

Features include:

  • Property-specific and business expense categorization
  • Receipt attachment and storage
  • Vendor/contractor tracking
  • Automatic ledger posting
  • Expense approval workflows

Recording an Expense

Step 1: Click "Add Expense"

From the Expenses page, click the "Add Expense" button to open the expense form.

Step 2: Enter Expense Details

Fill in the required information:

  • Date - When the expense occurred
  • Amount - The expense amount
  • Category - Select the expense category
  • Property - Which property (if property-specific)
  • Vendor - Who the payment went to
  • Description - Details about the expense
Step 3: Attach Receipt

Upload a photo or scan of the receipt. This provides documentation for:

  • Tax purposes and audits
  • Owner statement backup
  • Warranty claims
Step 4: Save Expense

Click Save to record the expense. It will automatically post to the ledger and appear in relevant reports.

Expense List

Expense Categories

Category Type Examples
Cleaning Property Turnover cleans, deep cleaning, supplies
Maintenance Property Repairs, equipment replacement, landscaping
Utilities Property Electric, water, gas, internet
Supplies Property Linens, toiletries, kitchen items
Insurance Property/Business Property insurance, liability coverage
Software Business PMS fees, channel fees, tools
Marketing Business Advertising, photography, website

Pro Tips

Record Immediately
Record expenses as they occur. Delaying leads to forgotten expenses and inaccurate reports.
Link to Tasks
When recording maintenance expenses, link them to the related task. This creates a complete record of work performed and costs.
Choose Correct Property
Always select the correct property for property-specific expenses. This ensures accurate owner statements and profitability analysis.