Property Starting Balance

Enter your Property Ledger Starting Balance when adding new properties to Rentec Direct property management software. 

Whether your property has a balance owing or a credit that you wish to reflect on the property ledger, you will post a manual transaction to reflect that debit or credit on the ledger. 

Tip:  It is recommended that you first create a new category for the Starting Balance. If you do not wish to categorize these transactions and are not using true accounting, you can use the system's uncategorized option. Learn more about Setting Up Categories | Chart of Accounts

Pro Tips: 

• Rentec Direct provides Full Assets, Liabilities, and Equity Accounting
• Save time, Schedule and Send Automated Reports to Owners, Managers, and/or Yourself. Create a list of Favorites from your most used reports.

Posting a Property Starting Balance

Quickly add a property starting balance. 

In your Rentec Direct account: 

1. Click on Properties 
2. Right-click on the property and   
   1. click on Post Expense to post a negative balance or 
   2. click on Post Income to post a positive balance
3. Enter the Date you began using Rentec Direct to manage the property
4. Use the dropdown to select Income or Expense Type Other
5. Keep the Bank Account and Tenant fields as NONE so that this starting balance does not affect those other ledgers. 
   
   System Note: When properties are imported or added to Rentec Direct account, the bank account beginning balance is a combined total, so including the bank could duplicate the $ value
6. Use the dropdown to select the Category created or Uncategorized
7. Click on Post Income or Post Expense to save