Add Vendors and Payees

Your Rentec Direct property management software also serves as a vendor management system. Tracking expenses for accurate bookkeeping, reports, and easy 1099 processing. 

Adding Vendors and Payees

There are two ways to add Vendors and Payees to your Rentec Direct account:

1. Add Vendors prior to posting expenses with them as a payee
   • This is recommended -  Very few fields are required, but you will want to make sure information is complete and up-to-date in the software to use tools like paying via ach, emailing work orders, and processing 1099s (and other tax forms).
2. Add Vendors when posting an expense. 
   • When posting an expense, enter the vendor's name as the Payee and click the add link that displays. This will save only the name. After the transaction is posted, you will want to edit the vendor using the steps outlined in How to Set Up a Vendor to Receive ACH Payments

Add Vendors Prior to Posting Expenses With Them as a Payee

In your Rentec Direct account:

1. Click on Settings
2. Under Financial, click on Vendors & Payees
3. Click on +Add a Vendor 
4. Under Vendor Details enter
   1. Company - to be reflected on transactions and reports. (Contact is for internal use)
   2. Industry (This is useful for categorizing vendors: Plumber, Electrician, Contractor.)
   3. 1099 - Check this box for the vendor to show up on 1099 reports and electronic 1099 filing
   4. Tax ID - Enter the Tax ID# for recordkeeping and tax filing purposes. Using the dropdown, indicate if the ID is a SSN or EIN
   5. Rate - This is for informational purposes only ($80/hr, By Bid, Varies, etc)
   6. Category - Enter the default category that will automatically apply when expenses are posted to this vendor
   7. Notes - Internal
5. Under Contact Info
   1. Mailing Address - Begin typing the address and select the correct address from the options to ensure accuracy
   2. Work Phone

   3. Mobile Phone - This is required to Send SMS Text Messages to the vendor

      Tip: Set your software to require a 10-digit phone number in Advanced Program Defaults

   4. Email - Your software will verify email addresses to ensure built-in communication features that depend on an email address work flawlessly: Sending Email Messages to vendors 
6. Under Payment Info - If you will be paying your vendor using the Vendor ACH Payment option, be sure to enter:
   1. The vendor's Bank Routing #

   2. The vendor's Bank Account #

      Tip: Do you want to pay vendor services via ach for only .50 cents per transaction? Click this link to learn more Feature Spotlight | Free Online ach Rent Payments with Rentec Direct 

7. Click on Add Vendor

• Note:  Repeat this same process for as many vendors as you may have associated with your properties.

Tips: 

• When posting an expense payable to a vendor, select their name from the dropdown, as typing in the vendor's name could result in a duplicate vendor. 
• Did you know you can print copies of your communication logs (email, text, and notes & history)? Click on this link to learn more Feature Enhancement | Print Copies of Rental Communication Logs (Email, Text, and Notes & History)

Deleting a Vendor

If a vendor needs to be deleted, Rentec Direct software will automatically move the transactions to a different vendor of your choice.

In your Rentec Direct account:

1. Click on Settings
2. Under Financial, click on Vendors & Payees
3. Right-click on the vendor and select Delete Vendor
4. A Warning will display advising
   1. Transactions that have been posted to the Vendor
   2. If there are recurring transactions associated with the Vendor
5. Use the dropdown to Choose a New Vendor that associated transactions will be moved to
6. Click on Delete Vendor