In this module, we will be discussing bill categories. Savvyrenting has a built in bill management system that can track your expenses including repairs and costs.
You can tailor this section to fit your accounting needs for tax time and to see the performance of your properties.
Start with the building you wish to add bills for, in your left side navigation bar.
Now, under costs, select “Manage Categories”
If you have categories in place they will be listed here, if its your first time adding them, it will be blank as shown.
Click “New Category” to begin the process.
NAME - is what you wish to call the cost. You can call this whatever you want the cost to be named, for example. Hydro Bill or Gas Bill.
You may also use this area for all general repairs and name it REPAIRS.
The account number section is for general records so you can choose to use this or not.
Categories are unique to the building so you can use the same name for each of your buildings. For example you can have “Hydro” for each of your buildings.
Use the building field to select which building this COST Category should be set up under.
Now, click save. It will bring you back to the cost category screen. You can add additional cost categories now.