Posting an Income, Charge, or Expense Transaction

Quickly post income, expense, and charge transactions. Rentec Direct property management software automatically will reflect posted financial transactions on linked ledgers.

When entering transactions, information such as date, payment type, and bank ledger associated with the property, tenant, and rental income category will default and can be modified as needed.   

Pro Tip: Set advanced Program Default Settings | Preferences to customize transaction details to be displayed in accounting reports such as memo, category, check # etc.

Posting Transactions

There are multiple ways to post income, charges, and expenses directly  to the property, tenant, and bank ledgers.

1. In every menu - Either right-click on the subject or click on the three dots to access the menu
2. In the Profile Card - Click on the tenant, property or bank to display the profile card to the right
3. Directly to the ledger - Click on the balance to enter the ledger

Post Income

Income received can be posted directly to the tenant, property, or bank ledger and will automatically reflect on the linked ledgers. 

Note: All check and reference fields can hold up to 45 characters

In your Rentec Direct account: 

1. Click on Tenants, Properties, or Banking
2. Access the menu - (pictured above) 
   1. Right-click on the tenant, property, or bank account or
   2. Click on the three dots to the right
      
      Pro Tip - As indicated above in 2 and 3 transactions can also be posted to the profile card or directly on the ledger
3. Click on Post Income
   1. Income received from a tenant, would be posted to the tenant, resulting in the transaction showing on the Tenant, Property, and Bank ledgers.
   2. Income received as an owner contribution would be posted to the property, resulting in the transaction showing on the Property and Bank ledgers
4. Enter the transaction details
5. Income posted to Tenants and Banks will have the option to split the transaction between different income categories. This can be helpful when tenants pay rent and deposit combined or receive payments from Section 8 housing to be split among multiple properties.
   
   Learn more about Entering Split Transactions
6. Click on Post Income 

System Note: Although the system allows you to post a tenant payment from a property ledger, it will display this warning:

Post Expense

Expenses can be posted directly to the property or bank account. Expenses posted to a property will automatically reflect on the property and bank account linked to the property. When posting an expense for a property, the best place to post that transaction to ensure accounting accuracy is via  Properties. 

In your Rentec Direct account: 

1. Click on Properties 
2. Click on Post Expense from the menu (using one of the options above to access the menu)
3. Enter the details of the transaction
4. If the expense being posted to a property is to be charged to a tenant, use the Charge Tenant dropdown to select the tenant and have the expense added to the tenant ledger.
5.  Recurring
   1. 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. If no end date is entered, the expense will continue posting until the recurring transaction is deleted
6. Depreciate
   1. If this expense is depreciable, check the Depreciate Box
      1. Using the dropdown, select the Frequency
      2. Enter the Begin and End dates
7. Click on Post Expense

Learn more about Recurring Transactions

Post Charge

The Post Charge option applies to charges only to a Tenant and should be posted directly to the Tenant's ledger.

Note: See Post Expense above for information on expenses to properties that are to be charged to a tenant.

In your Rentec Direct account: 

1. Click on Tenants
2. Click on Post Charge from the menu (using one of the options above to access the menu)
3. Enter the details of the transaction
   
   System Note: If you would like to include additional charges on the invoice, click the "post and edit" option
4. Recurring
   1. If this is a one-time charge, leave the Recurring Box unchecked
   2. If this is an expense that will be recurring, such as rent, utilities, or pet fees, check the Recurring Box 
      1. Set the Frequency of how often the charge should be posted to the ledger
      2. Set the Begin Date for the next and subsequent transactions
      3. Setting an End Date is optional. If no end date is entered, the expense will continue posting until the Recurring Transaction is deleted or the Tenant is "Moved out". An end date is not recommended for recurring transactions tied to a lease date.
5. Click on Post Charge