Payment Account Transaction Report

The single source of truth for all the activity in the payment account including payments, refunds, deposits, & withdrawals.

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Written by Charlie
Updated this week

Your Payment Account's Transaction Report is your single source of truth for all the transactions that have taken place within your account. This includes tenant payments, refunds, deposits, and withdrawals.

Table of Contents

Run a Transaction Report

The transaction report is specific to the individual payment account, the payment account is directly tied to a single checking account. Any RentRedi account can have multiple payment accounts. To run your report:

  1. From your RentRedi Dashboard click on the $ for Rent

  2. Click Payment Accounts

  3. The list below is a guide for the properties and their payment accounts

  4. Click Open Dashboard on the desired payment account

  5. Choose the Reports tab at the top of the screen

  6. Click Transaction Report

  7. Enter the desired deposit date range and click Search

Transaction Types and Descriptions

When viewing your transaction report for your payment account, it's important to keep in mind that this report shows transactions in and out of your Payment Account with our payment processor, ProPay. Withdraw Funds are transactions leaving your payment account, typically to be deposited into your connected checking account. The running balance is the total amount of funds present in the payment account after each individual transaction. Add Funds transactions indicate money coming into the payment account from the receiving bank account.

Transaction Codes

Transaction Type

Description

+ACH Payment

Tenant Payment

An ACH payment from a tenant that is being deposited into the ProPay payment account

+CC

Tenant Payment

A credit or debit card payment from a tenant that is being deposited into the ProPay payment account

-CK

Withdraw Funds

Funds being withdrawn from your ProPay payment account and deposited into the connected deposit account

+CK

Add Funds

Funds being withdrawn from your deposit account and deposited into your ProPay payment account

*Typically a result of a filed or contested payment

ACH Payment Return

Add Funds

Funds being withdrawn from your ProPay payment account

*Typically a result of a filed or contested payment

Funds will be recouped by ProPay by deducting the balance from future un-deposited payments OR by withdrawing from the deposit account

+ACH Payment - Rejected

Failed Tenant Payment

An ACH payment that cleared and was deposited into your deposit account but later failed or was contested

+ACH Rejected

Failed Add Funds

This happens when there is a failed attempt by ProPay to recoup a negative payment account balance caused by a failed or contested transaction by withdrawing the balance from your deposit account

*Typically a result to insufficient funds in the deposit account to cover the balance

Funds will be recouped by ProPay by deducting the balance from future un-deposited payments. If the payment account is not brought into good standing, ProPay may cut off processing.

+CK Return

Failed Add Funds

If ProPay attempts to clawback funds due to a filed payment and there is not enough funds in the connected deposit account, it will fail and reduce the balance of your ProPay payment account

+CK Return Fee

Failed Transaction Fee

Failed ACH transitions incur a $1.50 fee

+ACH Payment - Rejected Fee

Failed Transaction Fee

Failed ACH transitions incur a $1.50 fee - Will be added to the tenant's charge

Example:

Failed and Disputed Payments

Each payment, deposit, and withdrawal will have a unique Transaction ID. That transaction ID will follow the item through each modification or action on the transaction. You can easily view the history of a payment by looking at the actions that took place with the same transaction ID.

In this example, the tenant pays $1,905.00 plus a $1.00 convenience fee on 4/3 (Transaction #104). The payment was deposited on 5/4 (Transaction #106). This ACH transaction then comes back as insufficient funds and fails on 4/5 (Transaction #104). Failed payments incur a $1.50 charge (Transaction #104). Then the payment and fees are withdrawn from the deposit account to rebalance the payment account for $1,907.50 on 4/6 (Transaction #107).

More information on ACH Clawbacks here.

* ProPay will deduct the negative balance in the payment account from undeposited funds before withdrawing from the deposit account. 

Reconciling Payments and Deposits

The payment processor, ProPay, when possible will batch transactions into a single deposit. So if there are three rent payments within the day, these three payments may be batched into a single deposit. To locate the deposit a specific transaction was batched in, simply look at Column B of your export or Fund Date on your Transaction Report. You can then search the Deposit Report for that date to see all the transactions batched within that deposit.

Many bookkeepers and accountants will also use the bank statement to locate the date and amount of each deposit and then view the Deposit Report for those dates. Keep in mind, there may be a +/- 1 business day discrepancy on dates, so you may have to look at the Deposit Report for the day before the date you see in your bank statement.

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