Finance

Create, modify and delete a loan/mortgage

To add a loan, you have two options: Go to the “Finances” section, then click on “Loans/Mortgages” and finally on the “Import a Loan” button to import a payment schedule; Go to the “Finances” section and create a new recurring expense of type “Loan” from the “Finances” section or import a payment schedule. Create a loan with a recurring “Loan” expense If you choose to create a recurring expense of type “Loan”, you have the option of using the automatic payment schedule calculation. To do this, you will need to provide the following information: The start and end date, The Read more →

Recurring expense management

Create a recurring expense You have the option to create a recurring payment from the “Finances” section by selecting “Add an Expense”. Choose the type of payment, the frequency of recurrence, as well as the start and end dates, then click on “Save”. The creation of a recurring expense has several advantages, including: Automated management: It allows for the automation of tracking regular expenses, such as monthly or annual bills, thus avoiding the need to manually enter this information each time. Time saving: By setting up a recurring expense, you save time by not having to enter the same payment Read more →

Amortization

Certain expenses are deductible from taxes. Amortization refers to the loss of value of an asset over a given period. Each year, it is possible to deduct the amount of this loss in value. To record amortization, follow these steps in the Finances section: Click on “Add an expense”. Choose the type “Amortization”. Select the duration of amortization. Save the information by clicking on “Save”. Rentila uses the straight-line amortization method. This method evenly distributes the cost over the amortization period. The calculation formula is: Annual amortization = Amount of the expense / Duration of amortization. Examples of Useful LifeHere Read more →

Add an expense

To add an expense, follow these simple steps: Go to the “Finances” section and click on “New Transaction”, “Add Expense”. For each expense, you can enter the following information: The property, The type, The date, The payer, The amount. In addition to this information, you can also enter: The tenancy contract, The recurrence (one-time or a recurring expense), The VAT amount, The recoverable amount (for recoverable expenses), The description, The associated documents. Expenses are summarized into a few main types: Property management fees, Recoverable tenancy charges, Deductible charges, Credits, Tenant balance refunds, Security deposit refunds, Other expenses. Security Deposit Type Read more →

Add an income

To add income, follow these simple steps: Go to the “Finances” section and click on “New Transaction”, “Add Income”. For each income, you can enter the following information: The property, The type, The date, The payer, The amount, The VAT amount, In addition to this information, you can also enter: The tenancy contract, A description, The associated documents. Incomes are summarized into a few main types: Taxable income Security deposits Refunds and Credits (non-taxable) Other income (non-taxable) Rent type income In practice, you almost never need to manually add a rent type income, as they are automatically generated on the Read more →