Keep your rental expenses organized with RentRedi's Accounting feature.
Connect a bank account to automatically import debit transactions, then review and categorize them to keep your accounting records up to date. 🎉
Watch the Video🎥
Step 1: Connect Your Bank Account
Connect a new bank account or choose from your existing RentRedi payment account to start importing transactions into Accounting.
From your RentRedi dashboard, click ❯❯ (Expand Sidebar) in the top-left corner.
Go to Accounting ➜ Bank Accounts.
Click + Add Account.
Choose how to connect your bank:
Connect New Bank Account: Use Stripe's secure flow to link a new bank account.
Enable Existing Payment Account: Use a payment account you've previously added to receive rent.
Select a Sync Start Date within the last 180 days. Transactions will be imported starting from this date.
Click Start Sync.
Once the sync is complete, a confirmation message will show how many transactions were imported from your bank. ✅
Step 2: Review and Categorize Imported Expenses
After syncing your bank account, review your imported transactions and update their details to keep your accounting records accurate.
Go to Accounting ➜ Expenses.
Under Needs Review, you'll find transactions imported from your bank.
Click a transaction to review or update its details:
Set a Book Account: Select the appropriate account to categorize the transaction.
Link to a Property & Unit: Assign the transaction to the relevant property and unit.
Exclude Transaction: Exclude transactions you don't want included in your accounting records.
Once you've categorized a transaction, it will appear under the Categorized tab alongside your other categorized expenses.
Important: Importing Transactions Older Than 180 Days
Bank transactions can only be imported from the last 180 days. If you need to add older expenses, you can use the following options to keep your historical records organized.
Bulk Receipt Upload: Upload multiple receipts at once to add supporting documentation for past expenses. This is useful for keeping receipts organized alongside your accounting records.
Upload Statements: Upload your bank or credit card statements to retain records of older transactions. This can help you maintain documentation for past expenses.
Benefits of Automated Expense Tracking
Save time: Import eligible bank transactions instead of entering each expense manually.
Stay organized: Review transactions and assign expenses to the appropriate accounts, properties, and units.
Simplify tax preparation: Keep your expense categories and records organized to make it easier to prepare for tax season.
Improve financial visibility: Maintain more complete expense records to support your accounting reports and portfolio analysis.
Key Takeaway
Connect your bank account ➜ Import transactions ➜ Review and categorize expenses ➜ Keep your accounting records organized. 🎉
Good to know: If you enable an existing RentRedi payment account in Accounting, Send Money transactions made through that account will automatically appear in your Expense Dashboard for review and categorization.
Need Help? 💬
Contact us! RentRedi Chat Support is available 24/7. You can reach us through the chat bubble in the bottom right corner of the RentRedi dashboard.