Entering Split Transactions

A split transaction allows you to make one entry on a ledger for a total amount that will show on individual ledgers in separate amounts. 

For example, you might pay a vendor with one payment for the work done at multiple properties or receive a payment from a tenant for multiple income categories and the split transaction option makes this an easy task. 

Post a Split Transaction (Tenant Payment)

Posting a tenant payment as a split transaction allows those funds to be applied towards multiple income categories such as rent, late fees, security deposit, etc. 

In your Rentec Direct account:

  1. Click Tenants. 
  2. Right-click a Tenant from the Tenant List or from the Tenant Profile Card and choose Post Income
  3. On the Post Income page
    1. Fill in the payment details as you would a single transaction then, 
    2. Click on the Split Transaction button. This will add one additional line. If you need more, click the +Add Another Line button to add as many as needed to equal the number of individual items you wish to separate in this one total payment received. 
    3. Fill in those separate lines with the corresponding amount and memo, and edit the property as needed. 

      System NoteIt is not advised to use the 110 Charge category when posting tenant payments. 110 Charge category is reserved for a tenant charge and not for payments received. 
  4. Click the Post Income button when completed. 

The total amount will post on the bank ledger as one payment received and will show the individual items on the property, tenant, and owner ledgers and reports.

TipYou can also click the add attachment link to upload a file directly to the payment transaction, such as a scanned copy of the check or money order. 

Instructions to create additional income and expense categories can be found here: Setting Up Categories (Chart of Accounts)

Post a Split Transaction (Expense)

To split an expense transaction you will be using the Batch Income and Expense Transaction Tool. Information for entering batch transactions can be found here: Batch Income and Expense Transaction Tool

Deleting a Split Transaction

While in the Batch Income & Expense Transaction tool, use the red trash icon on the right to delete any unused lines. Additionally, before you are able to delete a split transaction, you first will need to edit and delete the added split line(s) before the entire transaction can be removed in Delete Mode.

Information on how to delete a transaction can be found here: Edit, Correct, or Delete Transactions

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.