Functions > Setup > Chart of Accounts
Expense groups are a way of grouping together similar expense transactions. An example of an expense group would be Repairs.
The
taxable option allows you to specify if the transactions in this group get charged tax on your year end tax return. This can affect some year end reports.
You can choose to ignore some transaction types from
cash flow analysis such as transferring money from one bank account to another. This can affect some reports.
You can choose to exclude some transactions from
profit and loss reporting such as cash withdrawals. This can affect some reports.
You can choose to exclude from transactions from
disbursement calculations. This means these transactions will not be deducted from the amount being paid to the owner.
If mortgages are enabled from the options screen, you can specify that this expense group is used to pay back either the
interest or principal portion of the mortgage. (Note - if you are using the full accounting mode, then the principal option will be removed from the expense screen, and will instead be made available on the Liability group)
Optionally an
extra fee can be charges to the property owner for transactions in this transaction group. As an example, you might charge the owner 5% of all repairs done, so for the repairs expense group you could turn on the
Charge an extra fee to the owner for these transactions and then enter either a percentage or fixed fee amount. Each time a transaction of this type is created, you have the option of creating the fee or not, so you can choose to exclude the fee for individual transactions. There is also the ability to over-ride this setting on a per-owner basis on the
Owner details screen. See also
Extra Fees.A transaction tax rate can be set for each expense group. This is used for GST or VAT type taxes. Tax amounts are then automatically calculated during transaction entry.
The option to
close a group simply hides the group when adding new transactions. Existing transactions using the group will still exist. This can be useful if you stop needing a particular group, but dont want to delete it.