Financial Reports

Financial Reports Overview | Rentec Direct

Rentec Direct property management software includes a variety of financial reports to help you manage property, tenant, and owner finances. Use these reports to track financial activity, monitor upcoming online payments, find balance discrepancies when reconciling, keep your accounts accurate and balanced, and prepare for tax reporting (1099s).

This article shows you how to access Financial Reports, customize your results, and find the reports you need. You can also hover over individual report names in your account for more information about what each report includes.

Access Financial Reports

In your Rentec Direct account:

1. Click Reports
2. Browse the available reports under Accounting, Online Payments, or Tax Reports
3. Click the report you want to run and select your report criteria

Tip: Save time by adding frequently used reports to your Favorites. Click the star next to a report to add it to the Favorites section at the top of the Reports page. You can then access your favorite reports quickly whenever you need them.

Customize Your Reports

Report filters help you narrow down the information you need. Depending on the report, you can customize the results using the following options:

• Report Period: Select a predefined reporting period or enter a custom date range.
• Bank Account: Select the bank account you want to include. The Category Ledger also allows you to choose All Accounts.
• Owner (PM accounts): Select an owner to view financial activity associated with that owner.
• Property: Choose an individual unit, subunit, main unit, or all properties.
• Display Transaction Details: Choose whether to include property and transaction memos or additional details for split transactions.

Tips for Working with Reports

• View report descriptions: Hover over a report name to see helpful details about the information it provides.
• Sort report results: Click a column heading to change the sort order.
• Open related records: Many reports include clickable fields, such as a category, dollar amount, or property address. Click these fields to open the related transaction, ledger, or profile. After reviewing or making changes, use your browser's back button to return to your report.

Want to add your company branding? You can add your company logo to reports to give them a more professional appearance.

Accounting Reports

Rentec Direct offers more than 20 Accounting reports to help you manage your property finances, review account balances, and keep your financial records accurate and ready for reconciliation.

Use the report description in your account to find the information you need. Here are some commonly used reports and a few helpful details to get you started.

Commonly Used Accounting Reports

• Account Balances
• Account Ledger A and B
• Balance Sheet
• Balance Discrepancies Report
• Income/Expense Statement (also called a Profit and Loss Statement or P&L)
• Operating Statement A and B
• Product Billing Summary
• Trial Balance A and B
• Vendor Ledger

Helpful Accounting Tips

Check whether your accounts are balanced with the Balance Sheet.

Compare Total Assets with Total Liabilities & Equity to see whether the amounts match. You can also review the Retained Earnings under Equity see accumulated profits or losses.

Find potential accounting discrepancies.

The Balance Discrepancies Report identifies transactions that have missing information and may affect the accuracy of your Balance Sheet. Use this report to locate and review those transactions.

Make sure deposits are recorded.

Transactions in Undeposited or Unrecorded Funds must be deposited so they are included in applicable financial reports, such as the Balance Sheet and Income/Expense Statement.

Additional Accounting Reports

Other available Accounting reports include:

• Check Register
• CAM Receipts
• Category Ledger
• Category Summary
• Expense Statement
• Income Statement
• Multi-Tenant Ledger
• Receipts Register
• Summary by Account
• Summary by Property

Tip: Hover over any report name in your account to see more information about the report and details it provides.

Online Payment Reports

Use these reports to review payments received, payments sent to owners and vendors, upcoming transactions, and estimated deposit dates.

Available Online Payment Reports include:

• ACH Settlement
• Cash Settlement
• CC Settlement
• Completed Online Payments
• Outgoing ACH
• Upcoming Payments
• Owner Payment Wizard (PM Accounts)

Monitor Upcoming Payments

The Upcoming Payments report helps you keep track of scheduled ACH transactions, including scheduled tenant payments.

By default, Rentec Direct sends email notifications about upcoming scheduled payments. If you prefer not to receive these notifications, you can change the setting in Payment Processing Settings.

For more information about payments made to property owners, see the Owner Payment Wizard.

Tax Reports

Available Tax Reports

• 1099 Tax Assistant: Provides vendor payment information to help you review and prepare for 1099 reporting. You can view payments made during the selected timeframe and choose to limit the results to vendors with combined annual minimum payments of:
  • $600
  • $2,000
  • All payments
• Depreciation Schedule: Shows all depreciable improvements for the selected reporting period.
• Schedule-E Assistant: Provides an income and expense statement using the categories and transactions that populate your federal Schedule E.

Pro Tip: Keep your financial records up to date throughout the year. Reconciling your accounts monthly with Rentec Direct's built in reconciling tools can help you catch discrepancies and make year-end accounting easier. Learn more about Reconciling in Rentec Direct.