Transfer Funds Between Properties

At times you might find it necessary to move the cash flow from one property to pay for an expense on another property in the portfolio. It is a two step process: 

Step One -- Transfer Funds Out of a Property Ledger

To reflect the transferring of funds from one property ledger to another, you first need to transfer funds out of a property ledger that has a positive cash flow. 

In your Rentec Direct account:
  1. Click Properties.
  2. Right-click on the Property that has the positive cash flow you wish to transfer and choose Post Expense from the menu.
  3. Post an expense transaction for the amount you wish to transfer, using the Owner Disbursement category.  
  4. If you will be moving actual funds from one bank account to another, select the appropriate account the funds are to be pulled from in the Bank drop-down menu. Otherwise, leave the bank as NONE if no physical funds will be moved out of an actual bank account. 
  5. In the Memo portion of the transaction, you can indicate which property is receiving the transfer.
  6. Click Post Expense when finished. 

Step Two -- Post Funds to a Property Ledger

Now that those funds have been removed from the positive cash flow property ledger, you will want to post that amount to the property ledger needing the funds to cover expenses. 

In your Rentec Direct account: 

  1. Click Properties.
  2. Right-click on the Property that has the negative cash flow and choose Post Income from the menu.
  3. Post an income transaction for the amount you removed from the first property using an Owner Contribution category.  

    Note: you may need to add an Owner Contribution income category before processing this task.

    Instructions on how to add an Owner category can be found here: Owner Contributions
  4. If you will be moving actual funds from one bank account to another, select the appropriate account where you are depositing physical fund into using the Bank drop-down menu. Otherwise, leave the bank as NONE if no physical funds will be moved into an actual bank account. 
  5. In the Memo portion of the transaction, you can indicate the property you pulled funds from in Step One
  6. Click Post Income when finished. 
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