Posting an Income, Charge, or Expense Transaction

Posting transactions in the Rentec Direct software is very easy. The key factor is knowing where to post so the information flows to all the correct ledgers for you.

This article reviews the different options. Click on a link to jump to that section:

• Posting Income from a Tenant
• Posting Charges to a Tenant
• Posting Expenses to Property Ledgers
• Posting Expenses to Bank Ledgers
• Batch Income and Expense Transactions
• Frequently Asked Questions

Posting Income Received from a Tenant

Income received from tenants or on their behalf should be posted to the tenant ledger.

Tip: Payments received for multiple tenants, such as Section 8 or other forms of Rental Assistance, can be quickly entered as Batch Transactions

In your Rentec Direct account: 

1. Click Tenants
2. Right-click on the Tenant and select Post Income
3. Enter the Transaction Details
4. Click Split Transaction to break down the payment to multiple properties or categories as needed.
5. Attach files as needed, then Post Income 

Posting Charges to a Tenant

The Post Charge option applies to one-time or recurring charges to a Tenant 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.

In your Rentec Direct account: 

1. Click Tenants
2. Right-click on the Tenant and select Post Charge
3. Enter the Transaction Details
4. Use the Attach Files link to attach documents or photos as needed (PM accounts will also offer the option to share with the property owner)
5. Recurring - If this is a recurring expense, check the box, select the frequency, and set the date range.
6. Click
   1. Click on Post Charge or
   2. Post and Edit to add additional charges, resulting in one invoice for all charges in that billing cycle

Posting Expenses

Expenses may be related to a specific property, shared by various properties, or a company expense, such as management fees.

Tip: Post expenses that apply to multiple properties, such as a vendor payment for repairs to multiple properties, quickly using the Batch Income and Expense Transaction Tool

System Note: Posting an expense to the property ledger provides options that are not available when posting to the bank account ledger, such as:

• Charging a tenant
• Scheduling a recurring expense
• Entering depreciable expenses

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

In your Rentec Direct account: 

1. Click Properties 
2. Right-click on the Property and select Post Expense
3. Enter the Transaction Details
4. Use the Charge Tenant dropdown to select the tenant responsible for the expense, automatically adding the charge to the tenant's ledger (for example, repairs for damages caused by the tenant)
5. Use the Attach Files link to attach documents or photos as needed (PM accounts will also offer the option to share with the property owner)
6. Recurring - If this is a recurring expense, check the box, select the frequency, and set the date range.
7. 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
8. Click on Post Expense

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 on 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, after the transaction is entered, you can edit it 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 Banking
2. Right-click on the Bank Account and select Post Expense
3. Enter the Transaction Details
4. If applicable, use the Property dropdown to select a property  
5. Click on Split Transaction to add additional lines as needed, then
6. Post Expense

| Learn more about posting Batch Income and Expenses

Frequently Asked Questions

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

A) Yes. To display transaction details in accounting reports, 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 be reflected in the property they are moved into and the linked bank account ledger.
• Income and expenses posted to a property will be reflected in both 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 essential 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.