Worthic can create a dedicated expense account for each managed property, giving you a running ledger of money held by—or owed to—your property manager.
Set it up from the property’s Manage property section by choosing Expense account. On the web, you can also manage it under Settings → Reporting lines; on mobile, open the property and choose Manage property → Expense account. An owner or editor can enter the managing agent’s name and, if needed, a dated opening balance.
Use the account to record:
- Funds transferred to the property manager
- Repairs, utilities, levies, commissions and other property costs
- Refunds, adjustments and additional owner contributions
When a rental receipt records a transfer to the expense account, Worthic can create the corresponding credit in that account automatically. You can also add transactions manually or upload the property manager’s expense-account statement for review and import.
Open View expense account from the property page to see the full transaction ledger and running balance in the Accounts workbench. This helps you reconcile the manager’s statement, identify missing or unexpected charges, and see whether the account is in credit or requires funding.
For a formal reconciliation, generate an Expense Account Statement from the property’s report centre or from More → Reports on mobile. It is available as PDF or CSV and includes the account activity and running balances for the selected period.