If you have been following along when we have announced our monthly Rentec Direct Product Updates, you know that making your software easy to use (and more efficient than ever) is a top priority as we move forward with any updates. If you read our most-recent product update, you will also know that our development team is currently in the throes of a big project: a software redesign. While a good chunk of our efforts is flowing into the design and usability updates these days, we are also continuing to apply updates to the software to make your life easier today.
Any new features we plug into the software today will also be available in the refresh coming later this year too.
That said, I wanted to share a couple of “under the radar” updates that have rolled out in the past few weeks that might make your life a lot easier. If you were on the request list for one of these features, you probably already know about it. But if you weren’t, here we two new features available in your Rentec Direct Software:
New Feature: Un-Reconcile Transactions
Reconcile Undo. You can now automatically undo a bank reconciliation with a single click. To use this feature, right-click on your bank account and go to Notes & History. You will now see an [undo] link next to recent bank reconciliations. Click this and the system will automatically revert all the transactions marked as Reconciled, back to unreconciled. The system will automatically update the Notes & History after reconciliation has been undone.
Why would anybody need to do this? Sometimes, we as humans, make mistakes and just need to start over. If a reconciliation was done by mistake, or if we had invalid data, you can now potentially save hours in un-marking those transactions with this quick undo option.
Sometimes state auditors will ask you to re-reconcile for a period of time. If you deal with hundreds or thousands, or tens of thousands, of transactions annually it can really be time-consuming to mark them as un-reconciled one at a time. This will save you hours of work.
Click here are for the step-by-step Knowledge Base instructions: Un-Reconcile Transactions
New Feature Option: Keep Convenience Fees Off The Property Ledger
There is a new option to keep convenience fees off the property ledger. By default, the “Apply Tenant Fees to Property” is set to Yes. When a tenant pays rent online by ACH or credit card, the transaction fee that the tenant pays will then post to the property and the bank account ledger. If you are not a property manager, or are a property manager and want your owners to have full visibility into what your tenants pay, just leave this setting alone. To change this option, login and go to Settings, then Online Payments.
However, if you are a property manager and you do not want ACH and CC convenience fees to display on the property ledger, you now have the option to automatically exclude those fees from the property ledger. Change this new setting to NO to keep those fees off the property ledger and they will then only post to the bank account.
Now don’t forget, as a property manager, you should not leave fees that you’ve earned in a trust account. You want to move those fees out on a regular basis.
Click here are for the Knowledge Base instructions on how to easily do this: Remove Convenience Fees From Trust Account
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