Automatic Bank Synchronization
Rentec Direct property management software offers a bank synchronization tool that pulls bank account information directly from a financial institution to populate Rentec Direct. Once imported, you can assign the information to tenants, vendors, owners, properties, and categories as needed.
Note: Automatic Bank Synchronization is available with Rentec Pro and PM subscriptions and isn't included with Rentec Starter. If you'd like to have access to this feature, you can upgrade your subscription at any time. See How to Change Your Rentec Direct Subscription for step-by-step instructions.
Getting Started with Bank Sync
To get started, you will need to link your bank account to your Rentec Direct account.
In your Rentec Direct account:
- Click on Banking
- Right-click on a bank and choose Sync w/bank
- Click on Link Account, which will bring you to a brief intro to Plaid, the service that allows you to link your Bank safely
- Click on Continue, which will bring you to Select your institution. Start entering the name of your bank in the filter to easily select your Bank from one of the thousands of banking institutions we support
- The next screen will authenticate the bank you selected
- Click on Continue
- The next screen you will see will link you to your bank, where you will enter your username and password to log into your account.
Note: While we support the vast majority of banks in the US, some smaller banks do not participate. If your bank is not supported and/or you are having trouble connecting or logging in, you may be able to manually sync with your bank.
Instructions on manually syncing to your bank can be found here: Manual Bank Synchronization
Account Initialization
Now that you are connected to your account, at this point, the Rentec Direct system works to securely initialize your account. The most recent 30 days of transactions will be available to you in less than five minutes.
Access Historical Transaction Data
After the initial 30 days of transactions are available, Rentec Direct continues working to retrieve historical transaction information. The amount of historical transaction information available varies by bank, but you can typically expect the last 2 years of transaction information to become available.
Synchronizing Transactions
After your account is fully initialized, you can specify a date range by clicking the Synchronize button.
After clicking the Synchronize button, you will be able to match the transactions from your bank to the ones you’ve entered into Rentec Direct.
Don’t worry, if you haven’t entered any transactions into Rentec Direct, you can easily specify new entries from the transaction matching page.
