Understanding Bank Related Transactions (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
Bank-related transactions can either be all the income that flows from the tenant and property ledgers, all the expenses from the property ledger, or adding a transaction directly to the bank ledger.
Bank Related Transactions
In addition to the flow of transactions from the tenant and property ledgers to the corresponding bank ledger, there are a few occasions where you will manually post a transaction to a bank ledger.
For example: tracking business income and expenses not related to a property like banking and professional fees as well as making credit card payments. More information can be found here:
In addition, there are tools in the software that if used will automatically post transactions or reports directly to a bank ledger or bank ledger note section. More information on those can be found here:
- Paying Yourself Property Management Fees
- Undeposited Funds & Bank Deposits
- Bank Account Reconciliation
Lastly, there are additional tools located in the Account section for data-entry support:
These tools are considered advanced and we've created specific Knowledge Base instructions to help you with these processes. More information can be found here: