Bank Synchronization is a highly sought after feature for property management software and Rentec Direct incorporated into their software in 2013. So, like other accounting software such as Quickbooks or Quicken bank transactions can be downloaded into Rentec’s database. Many banks support “Direct Connect” which completely automates the process. Rentec’s sophisticated software does all the encryption of the data and connection to your bank of choice. For those banks that don’t support “Direct connect” there are still ways to sync your information, it’s fairly easy to import a QFX or OFX file and get your data that way.
To use the bank synchronization feature, simply edit your bank account, click on your bank from the list, and select enable the service. From there go to the Accounts tab, right-click on the account and click “Sync w/ Bank”. If you’re having trouble getting through the process click “need help” in the upper-right hand corner and search for “bank sync” and get step-by-step guidance.
If you’re more of a visual learner there’s a demonstration video of the bank account synchronization feature. This gives an overview of the feature and how easy and useful it truly is. This feature is available to all Rentec Pro and PM users. If you’re not currently using the bank synchronization feature I encourage you to give it a try it’s convenient and easy to use.
Is this feature provided free or is there a month fee like the QuickBooks integration
Can you sync multiple bank accounts
Yes, the system supports an unlimited number of bank accounts, and you can sync them all.
Dulcey, Would I be able to export my Quicken Rental 2017 accounts to Rentec and My Qfx account files from my bank to continue on with Rentec?
Hi Albert, to import information into the software, you would use the bank sync tool or upload a QFX file from your bank.
I’m not certain if Quicken has an import option but I do know that many of our clients customize the categories (chart of accounts) in the Rentec Direct software to match their Quickbooks categories and then download (export) the Rentec data and upload (import) it into Quickbooks using their import tools.
I’ve linked above the articles from our Rentec Direct Knowledge Base for those tools and will have one of our Product Advisors to reach out by email to see if you have any further questions.