Q: What is included in RentRedi’s new Accounting Suite?
A: The feature set includes AI-powered receipt capture, mileage tracking, an expense hub accessible through the new navigation item and global search, Profit & Loss statements for each property and the full portfolio, and Schedule E summaries for tax preparation.
Q: Does the AI automatically categorize my expenses?
A: The AI extracts key details from each receipt image and automatically categorizes it by Schedule E expense type. Landlords can pick the related property and change how the expense is categorized.
Q: Do I need separate accounting software?
A: Most landlords won’t. Expense tracking, P&L documentation, and Schedule E summaries are all built into RentRedi and aligned with rent collection data already in the app.
Q: Where do I find the new Expense Tracking features?
A: The new Expense Tracking section appears in the app’s main navigation, through the “create new” button, and can also be found using global search.
Q: How does this connect with rent collection?
A: Income recorded in your rent collection and deposit dashboards flows into the same financial views used for P&L and year-end summaries.
Q: Is the Schedule E summary the same as filing taxes?
A: No. The Schedule E summary organizes information needed for tax preparation, but landlords still file their tax return separately.
Q: Are these features included in my current subscription?
A: Yes. The new accounting features are included for all landlords on RentRedi.
Q: Can I edit entries after uploading a receipt?
A: Yes. Landlords can review and update entries in the Expense Tracking hub, including categories, amounts, and property assignments.
Q: Can I export my data?
A: Yes. Landlords can export accounting data from RentRedi to provide expense details, P&L statements, and Schedule E summaries to their accountant.
Q: How does the Bank Feed integration support tax preparation?
A: Connecting a bank account automatically creates expense transactions for every withdrawal. This keeps the expense records current throughout the year, making tax preparation more straightforward and organized.
Q: Can I upload multiple receipts at once?
A: Yes. Landlords can upload multiple receipts or folders, and RentRedi’s AI will extract and categorize each expense.
Q: What is receipt itemization used for?
A: It allows landlords to accurately split expenses across properties or categories so records reflect real usage.
Q: Why track mileage in real time?
A: Real-time mileage tracking helps landlords maintain complete records and feel prepared when organizing tax documentation.
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