Overview
Tracking expenses is essential for generating an accurate Profit & Loss statement. Every business cost you record flows into your P&L report, giving you a clear picture of your net profitability.
How to Add an Expense
- Log in to your ClarityNOW portal
- Click Portal Dashboard
- Navigate to Financials in the left sidebar
- Click New
- Complete the expense form (see field details below)
- Click Submit
Expense Form Fields
| Field | Required | Description |
|---|---|---|
| Date | Yes | The date the expense was incurred |
| Description | Yes | A brief description of the expense (e.g., "Office rent - March") |
| Amount | Yes | The dollar amount of the expense |
| Account | Yes | The financial account this expense is associated with |
| Lead Source | No | If this expense is tied to a specific lead source (e.g., "Zillow Ads"), select it here. This enables lead-source ROI analysis |
| Recurring | No | Toggle on if this expense repeats monthly (e.g., rent, software subscriptions). Recurring expenses auto-populate in future months |
| Category | Yes | The P&L category for this expense (see categories below) |
Expense Categories
Expenses are organized into categories that map to your P&L report:
| Category | What to Include |
|---|---|
| Compensation | Team member salaries, bonuses, VA payments |
| Lead Generation | Marketing, advertising, lead source subscriptions, direct mail |
| Occupancy | Office rent, utilities, maintenance |
| Education & Coaching | Training courses, coaching programs, certifications, conference fees |
| Supplies/Office Expenses | Office supplies, printing, postage, signage |
| Communication & Technology | Phone plans, internet, CRM subscriptions, software tools |
| Automobile | Vehicle payments, gas, mileage, maintenance |
| Equipment/Furnishings | Office furniture, computers, cameras, equipment |
| Insurance | Business insurance, E&O insurance policies |
Adding Revenue
To record revenue instead of an expense:
- Follow the same steps above
- Change the dropdown from Expense to Revenue
- Enter the date, description, and amount
- Select the appropriate account
Revenue Categories
| Category | What to Include |
|---|---|
| Listing Income | Income from listing-side deals |
| Buyer Income | Income from buyer-side deals |
| Transaction Fee | Per-transaction fees collected from agents |
| Vendor Income | Revenue from vendor relationships |
| Profit Share | Brokerage profit sharing distributions |
| Bonus | Performance bonuses received |
| Returns | Refunds or returned amounts |
| Other | Any miscellaneous income |
Filtering and Sorting
You can organize your financial entries by selecting the Filter option to sort by:
- Category — Group expenses by P&L category
- Year — View a specific year's entries
- Search — Find specific entries by keyword
Tips
- Log expenses as they occur — Don't wait until month-end; real-time entry keeps your P&L current
- Use Lead Source tagging — Tagging marketing expenses to their lead source lets you calculate true ROI per source
- Set up recurring expenses — For monthly costs like rent and subscriptions, mark them as recurring to save time
- Connect QuickBooks — The QuickBooks integration can automatically sync expenses and revenue
Related Articles
- Profit & Loss Report — View your complete P&L statement
- Creating a Recurring Expense — Set up auto-repeating expenses
- Managing P&L Categories — Change or reassign expense categories