Automatic Bank Synchronization (Legacy)
This help article contains instructions for the Legacy Version of Rentec Direct. More information about the latest version of Rentec Direct can be found here: The Remodel | Rentec Direct’s Newest Software Update
Rentec Direct property management software offers a bank synchronization tool which allows pulling bank account information directly from a financial institution to populate within the Rentec Direct software. Once imported, the information can be assigned to tenants, vendors, owners, properties, and categories as needed.
Getting Started with Bank Sync
- Let’s navigate to the Accounts page where we will find a listing of bank accounts that have been set up.
- From the Accounts page, click on the menu icon to bring up the menu.
- Click on the Sync w/ Bank option and we’ll be on our way.
This will bring you to the Bank Synchronization page. Here you can easily link to one of the thousands of banking institutions we support. Throw a mouse click on the Link Account button and let the magic begin.
If you haven’t specified a bank account number already, the system will ask you for it now. Once you have specified a bank account number you will see the “Select your bank” interface. Here you can search for your bank or select from one of the banks listed.
NOTE: While we support the vast majority of banks in the US, some smaller banks do not participate. If your bank is not supported and/or you are having trouble connecting or logging in, you may be able to manually sync with your bank using these instructions: Manual Bank Synchronization.
From here insert your credentials. Securely connecting to your account couldn’t be easier!
Alright! You are connected to your account!
At this point, the Rentec Direct system works to securely initialize your account. The most recent 30 days worth of transactions will be available to you in less than five minutes!
We know that it’s exciting so we’ve provided a Refresh button right there on the initialization page. Feel free to click it as often as you feel like it.
Access Historical Transaction Data
After the initial 30 days worth of transactions are available, Rentec Direct continues to work to get historical transaction information. The amount of historical transaction information available varies from bank to bank but you can typically expect the last 2 years worth of transaction information to become available.
Here we are. Your account has been fully initialized and you’ve reached the moment we’ve all been waiting for…The ability to specify a date range, click the Synchronize button, and bask in the sweet feeling of success.
Actually, that’s all you really need to do to Synchronize your transactions using Rentec Direct’s easy to use interface. Basking in success is optional.
After clicking the Synchronize button you will be able to match the transactions from your bank to the ones you’ve entered into Rentec Direct.
Don’t worry, if you haven’t entered any transactions into Rentec Direct, you can easily specify new entries from the transaction matching page.
Already Use Rentec to Sync your Bank Account?
As an experienced Bank Synchronization user you might be wondering, “I already sync my bank account with Rentec, what happens now?” Any transaction information you’ve already synced will stay already synced. For any new transactions you will get to re-link to your Bank Account using the Bank Synchronization feature as described above.
We updated this system because banks have been systematically discontinuing the previous method used to sync and while it might have been working yesterday there was no guarantee it will still be working tomorrow. So before that happens to your accounts, we added this new bank sync method to make sure you have an uninterrupted and reliable bank sync service moving forward.