Manual Bank Synchronization
While we support the vast majority of banks in the US for bank synchronization, some smaller banks do not participate. If your bank is not supported and/or you are having trouble connecting or logging in, or if your bank is not returning any data, you may be able to manually sync with your bank using these instructions.
Note: Although there are a few additional steps, the results are identical to the automatic bank synchronization.
How to Manually Synchronize Bank Statement Data
- Click Banking on the main menu.
- In an alternate browser window or tab (CTRL-T opens a new tab in most browsers), login to your bank's website and find where they allow you to download a QFX or OFX file (either will work). Sometimes they may call this a Quicken file.
If you cannot find this within their online services, either contact your bank and ask how to download a QFX file or search their help files to determine how. Once you locate the area to download a QFX file, download it to your computer.
Tip: In your browser search bar search for download instructions. For example search for 'How do I download a QFX file at XYZ bank'.
- Return to your Rentec Direct window or tab. Right-click on your bank account and choose the Sync w/ Bank option from the menu.
Tip: You can also find the Sync option inside and at the top of every bank ledger.
- Click the Choose File button and select the QFX file you downloaded from your bank in step 2 above.
- Then click the Upload Data button.
- Transaction date
- Transaction description
- Transaction amount
- Transaction memo (not always available)
- Match a transaction
- Enter a new transaction
- Delete transaction
To Match a Transaction from a Bank Sync Data
Rentec Direct software system will review all non-reconciled transactions within your ledger for a possible match with the imported bank file. If there is more than one match in the system, the most probable matches are displayed first followed by the lease probable. To match this downloaded entry to an existing ledger item, simply select the ledger item and click the Match button.
To Create a New Transaction from the Bank Sync Data
If the Rentec Direct software is unable to match the downloaded transaction to an existing ledger entry you will only have the option to create a new transaction. You can also use this option if none of the entries the system matched are correct.
In your Rentec Direct account:
- Click the New Entry line to bring up the form.
- Enter in the Payee and Category, and optionally the Property, Tenant, and Memo.
- Click the Submit button to save the transaction.
Tip: If you prefer to manually enter a transaction outside of this system and then match it, without leaving this screen right-click on the Properties, Tenants, Banking, etc. from the main menu and choose Open link in new tab.
From there you can enter a transaction normally, being sure the amount is identical to the downloaded transaction and the date is near the downloaded transaction date. After you save your new transaction, go back to the original Banking tab open.
Click the Refresh button in your browser (typically at the top and looks like a circle made with two arrows) and the system will re-match all applicable transactions giving you the Match option.
To Delete a Transaction from the Bank Sync Import Data
You are able to remove a downloaded transaction without adding or matching it to a ledger entry.
In your Rentec Direct account:
- Click the small grey X icon to the right of the amount.
- You will receive confirmation that reads:
CAUTION: Deleting a transaction may cause your bank account to not reconcile and upon acceptance, this downloaded transaction will be permanently removed.
- Click Agree to delete the transaction (or click Cancel to leave this page without changes).
Testing Manual Sync
If you prefer to test this operation without affecting live transactions in your operating account(s), that is easy to do. Just set up a new test bank account in the system and perform the above steps on the test account.