Tracking vehicle costs and EMI
Log running costs against a vehicle and track finance instalments so you know real profit per vehicle.
Updated
Rental income alone does not tell you whether a vehicle is worth keeping. Costs recorded against the vehicle are what turn revenue into profit in your reports.
Logging an expense
Record a cost against a vehicle with:
- Type and Vehicle
- Amount and Currency
- Incurred on — the date the cost happened
- Vendor / payee
- Receipt — attach the bill
- Remarks
Rentrovia confirms with Expense logged.
Use Incurred on for the real date of the cost, not the day you got round to entering it. Monthly comparisons are only meaningful if costs land in the month they happened.
Attach the receipt while you have it. It gives the next person checking the cost something concrete to verify.
Vehicles bought on finance
Switch on Vehicle has EMI on the vehicle to record its finance terms:
- Vehicle price, Down payment and Remaining amount
- Monthly EMI and Total months
- Interest % and Interest type — flat or reducing
- Due day — which day of the month the instalment falls
- EMI status
The vehicle's Purchase rate is recorded separately with its other pricing details.
Get Interest type right. Flat and reducing produce quite different totals over the same term, and copying the wrong one from your loan papers makes every projection wrong.
Recording an instalment
Each month, record the payment with EMI amount, Paid date, Late fee paid if there was one, optional Method and Reference, Proof / receipts, and any Remarks. Rentrovia confirms with EMI payment recorded.
The Due day drives instalment reminders when those alerts are enabled, so it is worth setting even if you pay by standing instruction.
Why this matters
A vehicle earning well on paper can still lose money once finance and servicing are counted. Only vehicles with their real costs recorded will show that. Vehicles with no costs logged will always look like your best performers, which is misleading rather than useful.