{"id":455,"date":"2009-12-31T08:08:40","date_gmt":"2009-12-31T16:08:40","guid":{"rendered":"http:\/\/www.rentecdirect.com\/blog\/?p=455"},"modified":"2016-12-27T15:52:34","modified_gmt":"2016-12-27T23:52:34","slug":"separate-expense-account-capability-added","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/separate-expense-account-capability-added\/","title":{"rendered":"Separate Expense Account Capability Added"},"content":{"rendered":"<p>A new option has been added to the edit property screen.\u00a0 You can now specify separate income and expense accounts.\u00a0 Prior there was a single default account which defaulted for both income and expenses.\u00a0 With the addition of <a title=\"bank deposits\" href=\"http:\/\/www.rentecdirect.com\/blog\/2009\/11\/manage-undeposited-funds-and-make-bank-deposits\/\">bank deposits and undeposited funds tracking<\/a> it made sense to separate these since most expenses come directly from a checking account, whereas undeposited funds are handled differently.<\/p>\n<p>By default, your Income account and Expense accounts are the same as you have already defined, or set to None if you have not previously set them.\u00a0 To update the defaults, click the <em>Properties <\/em>tab, then right-click on your property, and select <em>Edit Property<\/em>.\u00a0 From the drop-downs here you can specify your default income and expense accounts individually for each property.<\/p>\n<p><a href=\"http:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2009\/12\/edit_prop.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-456\" title=\"edit_prop\" src=\"\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2009\/12\/edit_prop.gif\" alt=\"edit_prop\" width=\"600\" height=\"148\" \/><\/a><\/p>\n<p>In addition, any workorders expensed to a property will automatically also post to the default expense account for that property.<\/p>\n<p>From the Rentec Team, we wish everyone a very happy new year!!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new option has been added to the edit property screen.\u00a0 You can now specify separate income and expense accounts.\u00a0 Prior there was a single default account which defaulted for both income and expenses.\u00a0 With the addition of bank deposits and undeposited funds tracking it made sense to separate these since most expenses come directly [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,107],"tags":[109,160,159,161,162,144,94],"class_list":["post-455","post","type-post","status-publish","format-standard","hentry","category-product-update","category-rentec-pro","tag-bank-accounts","tag-default-account","tag-expense-account","tag-happy-new-year","tag-income-account","tag-undeposited-funds","tag-workorders","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- 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