Category : Accounting

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Currently, Rentec’s program allows you the option to set management fees to automatically post as an expense to a property each month.  This expense does NOT incorporate the default expense account into the transaction as most customers do not actually cut a check out of their operating account for this expense, it simply is withheld ..

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If you need to make an owner contribution(deposit) to their property for additional expenses, here is the steps you can follow: If you haven’t already set up a category for owner contributions.  This is what you would want to do first 1. Set up a new category under Settings/Setup Categories 2. When “adding a new ..

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For instructions of how Tenant Deposits work within Rentec, follow this link. If you are using one bank account within  Rentec for all of your transactions – rent collections, tenant security deposits and property expenses – you will want to follow the steps below to ensure your ledgers reflect security deposit transactions correctly.  (If you ..

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Within Rentec, you are able to track multiple bank accounts.  Should you need to transfer funds between bank accounts in the program, first be sure both accounts are established accounts in the program.  To add new accounts,  click on the Accounts tab, click on “Add new Account” in the lower left. To transfer funds, follow ..

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As a management company, if you typically mark-up vendor charges when posting expenses to a property, you can handle your documentation in Rentec. For example, say you receive a $90 invoice for plumbing work from ABC Plumbing.  Your policy is to mark-up each invoice by $10.  To reflect this scenario in Rentec,  we recommend you ..

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At times you might find it necessary to “move” the cash flow from one property to pay for another’s expense when both properties are owned by the same owner entity.  To reflect the transferring of funds from one property ledger to another, follow the steps below: 1.  Create a custom “other” category for this transaction. ..

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