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You can setup your Vendor information on the Vendor Setup sheet, which will automatically feed over to the Vendor dropdown list.

Categorizing your expenses by Vendor will help you track how much you’ve paid to each vendor for each year for 1099s. Once you select, the Schedule E category, the final selection is the Vendor that was paid for the service. Schedule E is an IRS tax form that you is used to file Rental Income, and it is pre-built with Expense Categories.Ĭategorizing your Schedule E expenses will automatically fill in the Schedule E form to help you during tax season. Once you select the Expense Type, you can also select the Schedule E Category. The dropdown menu is pre-built with a list of typical Expense Categories, but you can change and customize these Expense Categories on the Category Setup sheet. Next, you can select the Expense Type or Category from the dropdown menu which will be used to organize/ and categorize your Expenses into separate Expense Categories.

Once you input the date, you can input a brief description or memo of the expense that was paid…For example, our first operating expense was for purchasing a for rent signage to advertise the property. It’s important to input the date information, so you can calculate the expenses paid in any given year. The first column on the operating expense tracker is the date the expense was paid. Your operating expenses will be on-going expenses and costs spent to run, manage and maintain your rental property such as property taxes, property insurance, utilities, maintenance and small repairs. The Operating Expense Tracker is used to track your operating expenses for your property.