Tracking Credit Card Purchases

The property management software allows you to track your credit card purchases for property expenses easily.

Create a Credit Card Vendor Payee and Bank Ledger

Before you can begin tracking credit card expenses and payments, you will want to add that credit card as a payee and a corresponding bank ledger. 

In your Rentec Direct account: 

  1. Click Settings
    1. Under People, click on Manage Vendors & Payees
    2. Click on Add New Vendor
    3. Add your credit card as a vendor and click the Add Vendor button 
  2. Click Banking
    1. Click on Add an Account
    2. Use the drop-down option and select Credit as the account type
    3. Enter other information as needed
    4. Click Add Account when finished

To Post a Credit Card Purchase

Once the above has been established, you can begin posting your credit card purchases. The process is similar to posting any other expense.   

  1. Click Properties (or Banking if you need to post an expense as a split transaction or post bulk transactions)

    More information on split transactions can be found here: Entering Split Transactions

    Details on entering transactions in batches can be found here: Batch Income and Expense Transaction Tool
  2. Right-click and choose Post Expense from the menu
  3. Select Credit Card from the Payment Type drop-down menu
  4. From the Bank drop-down option, select the credit card account used

    Note: If you are posting an expense from your new credit card Bank ledger, you will not find a bank drop-down menu because you will already be within that bank ledger.

    Tip: Remember when posting on a specific Bank ledger or using the Bulk Transaction Tool to choose the appropriate properties associated with the expense so that the transaction will display on those property ledgers and ledger reports. 
  5. For the Payee, assign the expense to the credit card vendor you created
  6. Enter the payment details such as amount, date, category, and memo
  7. Click Post Expense when finished

You will then be able to pull bank ledger and vendor reports that correspond with these credit card transactions. 

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