Entering Split Transactions

A split transaction allows you to make one entry on a ledger for a total amount that will show on individual ledgers in separate amounts. 

For example, you might pay a vendor with one payment for the work done at multiple properties or receive a payment from a tenant for multiple income categories and the split transaction option makes this an easy task. 


Post a Split Transaction (Expense)

In your Rentec Direct account:

  1. Click on the Accounts tab.
  2. Click the Red Dollar Sign [$]

    split transaction edit screen
  3. On the Enter Expense page
    1. Fill in the expense details as you would a single transaction then, 
    2. Click on the Add Line button as many times as equals the number of individual invoices, payments, transactions you wish to include in this one total payment. To delete any lines, just select the red X. 
    3. Fill in those separate lines with the property, category, memo, and corresponding amount. 

      Note: If this is not a property expense, rather only a bank account transaction, you can leave the property blank.
  4. Click the Post Expense button when completed. 

In this example, we are paying A1 Speedy Plumbing with check #12345 for two repairs, one to 123 Test Ln, and a 2nd to 124 Test St.  Each is categorized as 'repairs'; however, each was for a separate invoice. If your entering an invoice from a vendor, the Memo section is an excellent spot for the invoice or statement id.

When this transaction posts it will post as a single split transaction to account '1191 General Operating'; however, there will be individual transactions automatically posted to '123 Test Ln' and '124 Test St'.  The sum total of each of the individual transactions makes up the total of the entire transaction within your Account ledger.  If for instance, you edit either one of these transactions individually within the property ledger, it will influence the total in your Account ledger.

edit a split transaction


Post a Split Transaction (Tenant Payment)

A split transaction can also be used when posting a payment to a tenant's ledger, so that the payment can be applied towards, rent, late fees, security deposit, etc.

In your Rentec Direct account:

  1. Click on the Accounts tab.
  2. Click the Green Dollar Sign [$]. 
  3. On the Post Payment page
    1. Fill in the payment details as you would a single transaction then, 
    2. Click on the Add Line button as many times as equals the number of individual items you wish to separate in this one total payment received. To delete any lines, just select the red X. 
    3. Fill in those separate lines with the property, category, memo, and corresponding amount. 

      System Note: It is not advised to use the 110 Charge category when posting tenant payments. 110 Charge category is reserved for a tenant charge and not for payments received. 
  4. Click the Post Income button when completed. 

alternative split transactions

In this example, the total amount will post on the bank ledger as one payment received and will show the individual items on the property, tenant, and owner ledgers and reports.

You can also click the 'add attachment' link to upload a file directly to the payment transaction, such as a copy of the check or money order. Once all the appropriate fields have been configured, click the Post Income button to post the payment to the account ledger. 

Instructions to create additional income and expense categories can be found here: Setting Up Categories (Chart of Accounts)


Deleting a Split Transaction

Important NoteWhen deleting a split transaction, the red x next for each line must be clicked before the entire transaction can be removed.

Information on how to delete a transaction can be found here: Edit, Correct, or Delete Transactions

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