Expense Tracking
Understand the purpose of expense tracking and how consistent records help you measure the true performance of a property.
Expense tracking is the process of recording the money spent to operate each property. It is different from simply looking at booking revenue.
- Track expenses such as:
- Salaries and staff payments.
- Housekeeping.
- Repairs.
- Maintenance.
- Utilities.
- Internet.
- Consumables.
- Supplies.
- Marketing.
- Platform fees.
- Homeyhuts fees where applicable.
- Taxes and other operating charges.
- For every expense, associate it with the correct property and category. This allows you to answer questions such as:
- How much does this property cost to operate each month?
- Which expense category is increasing?
- Which property has the highest operating cost?
- What is the net result after expenses?
Example:
If a property generates ₹2,00,000 in booking revenue but costs ₹1,20,000 to operate, its performance is very different from a property generating the same revenue with ₹60,000 in operating costs.
Tip: Separate one-time capital improvements from recurring operating expenses where possible so your performance reports remain meaningful.
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