Add Bank Account Ledgers

Rentec Direct helps keep your finances organized and in sync by automatically linking transactions across tenant, property, and bank ledgers.

Every account starts with an Undeposited Funds ledger already set up for you. From there, you can add ledgers for checking accounts, savings accounts, and credit cards as needed.

Once a bank account is added and linked to properties:

• Expense transactions entered on a Tenant Ledger automatically reflect on the linked Property and Bank Ledger
• Transactions entered on a Property Ledger automatically reflect on the linked Bank Ledger

This automation helps ensure your records match our real bank activity and makes monthly reconciliation easier.

Add Bank Account Ledgers 

Rentec Direct software allows you to track undeposited funds, checking accounts, savings accounts, and credit cards. The Undeposited Funds ledger is included by default, and additional ledgers can be added at any time.

Tip: Hover over the? icons as you enter information for helpful details.

In your Rentec Direct account:

1. Click Banking
2. Click +Add Account

3. Under Account Information, enter an Account Name

   (for example: Operating Account or  Security Deposits)

4. Select the Account Type

   System Note: If this bank will be used for online payments, choose Business Checking

5. Enter a Reference number

   * Use an accountant-provided number, or

   * Check the box to let the software auto-number the account

6. (Optional but recommended) Link an Unrecorded Funds account

   * This is strongly recommended if the account will be used for online transactions or physical payments, such as checks or money orders, for easier reconciliation

7. Enter the Opening Balance

   (typically the account balance as of the date you begin tracking transactions)

Enter Account Numbers (If Applicable)

Enter the following details if you plan to use the account for online financial transactions, deposits, or check printing:

• Routing Number and Account Number (required for online payments, deposits, or check printing)
• Deposit Routing Number, if different from the main routing number
• Fraction Number (this field can usually be left blank)

Software Tip: Account and Fraction numbers are limited to 35 characters.

Save and Add More Accounts

1. Click Add Account
2. Repeat these steps for additional accounts you want to track

Online Payment Processing

After adding the bank account, you'll see an option to apply to use the account as a merchant account, which allows online financial transactions directly through that bank account

Learn more about  Online payments

Check Printing Settings

Check printing settings are available:

• When Printing Checks, or
• From the Edit Bank Account screen

System Advice

Although only a few fields are required, completing all known fields improves record-keeping, supports bank sync tools, and enables printing of deposit slips.

After adding a bank account, be sure to update linked properties so transactions flow correctly.