Posting an Income, Charge, or Expense Transaction

Posting transactions in Rentec Direct software is very easy. The key factor is understanding where to post information to ensure it reaches all the correct ledgers for you.


This article reviews:


Posting Income

Physical payments received from tenants should be posted to the tenant ledger, which will automatically post to the linked property and bank account for accurate accounting.

The following steps walk through how to enter a payment received from a tenant:

In your Rentec Direct account: 

  1. Click on Tenants
  2. Right-click on the Tenant and select Post Income from the menu
  3. Enter the Transaction Details
  4. If a payment received is for more than one purpose, click on Split Transaction to indicate the amount to be applied to each category (e.g., rent/pet fee) as many times as needed.
  5. Click on Post Income 

Tips:

  • Payments received for multiple tenants, such as Section 8 or other forms of Rental Assistance, can be quickly entered as Batch Transactions
  • Although the software allows you to post a tenant payment from a property or bank ledger, to ensure accuracy, it is recommended to be entered into the tenant ledger.

Posting Charges

The Post Charge option applies to charges to a Tenant for one-time or recurring charges and should be posted directly to the Tenant's ledger.

Tip: If there are expenses to a property that should be charged to a tenant, use the steps in Posting Expenses to Property Ledgers below.

The following steps walk through posting charges to a tenant.

In your Rentec Direct account: 

  1. Click on Tenants
  2. Right-click on the Tenant and select Post Charge from the menu
  3. Enter the details of the transaction. Be sure to select the correct Product/Service
  4.  Recurring - Check this box if the charge is to be recurring, such as rent, utilities, or pet fees.
    1. Set the Frequency of how often the charge should post to the ledger
    2. Set the Begin Date for charges to begin posting in your software
    3. Setting an End Date is optional and not recommended for recurring transactions tied to a lease end date to ensure charges will continue posting until the Tenant is "Moved out" or the Recurring Transaction is deleted
  5. Click on Post and Edit to add additional charges, resulting in one invoice for all charges in that billing cycle
  6. Click on Post Charge when all charges have been added

Posting Expenses to Property Ledgers

Expenses to properties, such as maintenance and repairs, should be posted to the Property Ledger, which will automatically post to the linked bank account. Posting an expense to the property ledger provides options that are not available when posting to the bank account ledger:

  • Add the charge to a tenant ledger
  • Schedule the expense to be recurring
  • Enter depreciable expenses

Tip: When posting expenses that apply to multiple properties, such as a vendor payment for repairs to multiple properties, use the steps below in Posting Expenses to Bank Account Ledgers


The following steps walk through posting an expense to a property ledger.

In your Rentec Direct account: 

  1. Click on Properties 
  2. Right-click on the Property and select Post Expense from the menu
  3. Enter the details of the transaction. Be sure to indicate the correct Category.
  4. Use the Charge Tenant dropdown to select the tenant to automatically add the charge to the tenant ledger.
  5.  Recurring - If this is an expense that will be recurring, check the Recurring Box
    1. Set the Frequency of how often the expense should be posted to the ledger
    2. Set the Begin Date for the next and subsequent transactions
    3. Setting an End Date is optional
  6. Depreciate - If this expense is depreciable, check the Depreciate Box
    1. Using the dropdown, select how many Years the improvement is depreciable
    2. Enter the Begin Date
  7. Click on Post Expense

Learn more about Recurring Transactions

Posting Expenses to Bank Account Ledgers

Expenses that affect a bank account only or apply to multiple properties, such as paying a vendor for work to multiple properties, should be posted to the Bank Account Ledger as a Split Transaction to easily indicate the specific amount and memo per property.

Tip: If an expense posted to the bank account is to be charged to a tenant, once the transaction is entered, you can edit the transaction to add the tenant. Click here to learn more about Editing Transactions.


The following steps walk through posting an expense to a bank account ledger.

  1. Click on Banking
  2. Right-click on the Bank Account and select Post Expense from the menu
  3. Enter the details of the transaction. Be sure to select the correct Category.
  4. If applicable, use the Property dropdown to select a property that the expense should be added to
  5. Click on Post Expense
  6. Click on Split Transaction to add additional lines as needed
  7. Click on Post Expense

Frequently Asked Questions

Q) Can the Memo, Category, or check # be reflected in accounting reports?

A) Yes. If you would like to have transaction details displayed in accounting reports, just set the Reporting Preferences in the advanced Program Default Settings | Preferences.


Q) How many characters can be entered in the check and reference fields?

A) Each field can hold up to 45 characters


Q) What are linked ledgers?

A) A good example of linked ledgers is in each Property profile. You can select the default income and expense bank account so all transactions will post to the property ledger and automatically post to the Linked bank account ledger.


Q) Which ledgers are linked?

  • Income posted to a tenant ledger will also reflect on the property they are moved into and the linked bank account ledger
  • Income and expenses posted to a property will reflect on the property and the linked bank ledger
  • Income posted to a bank ledger will only reflect on the bank ledger

Q) What is an Info Card?

A) Each tenant, property, bank account, and owner (for PM accounts) has an Info Card with important details and clickable links to most screens and ledgers pertaining to that individual. The image below displays a Property Info Card to the right.


Pro Tip: Each tenant, property, bank account, and owner (for PM accounts) offers three ways to access the Post Charge, Post Income, or Post Expense link, making Rentec Direct easy to use with any device.

  • In each Profile Info Card - (illustrated below on the right)
  • Directly to the ledger - Click on the balance to enter the ledger  
  • In every menu - Either right-click on the subject line or click on the three dots to access the menu

Rentec Direct makes it easy to post income, charges, and expenses on any device. Click this link to see which option is right for you: Navigation Tips.

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