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Record Expenses

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Recording expenses ensures financial transparency, simplifies tax reporting and enables short-term vacation rental managers to track profitability accurately, manage budgets effectively, and build trust with property owners through clear financial reporting.

You can record expenses on the PM Expense Grid and on individual Bookings via the Expenses tab. Let's review how to do so in both locations.

Expense Grid

Take a look at PM > Expenses. This is where you'll record items you paid for on behalf of the owner. Owner Statements take expenses into account and subtract (or add) money from the statement. It is assumed that "Expenses" are paid from the PM's general operations bank account, not from escrow. When the statements are calculated, money is moved from escrow back to (or away from) the owner and PM to reimburse those expenses.

On the Expense grid (PM > Expenses > Expenses), you can add individual expenses by clicking on the + Record Expense button.

On the Expense grid, you can add individual expenses by clicking on the + Record Expense button.

Enter the expense details and associate the expense to one of the following, Booking, Property, or Owner. At the bottom, you can determine if this expense was paid from your escrow (won't be reimbursed on PM statement) or the defaulted operations account (will be reimbursed on PM statement). Enter the expense details and associate the expense to one of the following, Booking, Property, or Owner. At the bottom, you can determine if this expense was paid from your escrow (won't be reimbursed on PM statement) or the defaulted operations account (will be reimbursed on PM statement). 

Alternatively, you can edit an expense by clicking on the individual expense to view it and then click on the Change Expense button.

Alternatively, you can edit an expense by clicking on the individual expense to view it and then click on the Change Expense button.

Individual Bookings

Expenses can also be added or edited for individual bookings Booking Expenses tab by clicking on the + Record Expense button to add an expense.

Expenses can also be added or edited for individual bookings Booking Expenses tab by clicking on the + Record Expense button to add an expense.Enter the expense details and associate the expense to one of the following, Booking, Property, or Owner. At the bottom, you can determine if this expense was paid from your escrow (won't be reimbursed on PM statement) or the defaulted operations account (will be reimbursed on PM statement). Enter the expense details and associate the expense to one of the following, Booking, Property, or Owner. At the bottom, you can determine if this expense was paid from your escrow (won't be reimbursed on PM statement) or the defaulted operations account (will be reimbursed on PM statement). 

Or you can click directly on the expense to view it and then click on the Change Expense button to edit it. And just like editing expenses, from the PM Expenses grid shown above, you can edit or delete that specific expense.

Or by clicking directly on the expense to view it and then clicking on the Change Expense button to edit it.