RentTrack posts payments to Rent Manager as they transact.  We include the RentTrack Transaction ID in the reference number, as the RentTrack Batch ID in the Comment and reference number on the batch. You can see resident's transactions on the Transactions tab.

Payments will post throughout the day.  

Note: Do not create and close a batch the day payments are being posted (today). Be sure to check your email before creating and closing a deposit batch the next day. If we were unable to post a payment, we'll email you the information on the payment and you can add it manually before creating and closing the batch.

Manually Creating and Closing a Batch

  1. Go to Accounting → Deposits
  2. Select the Property you are working with
  3. Expand the comment field if necessary so you can see the full RentTrack batch number
  4. Select all payments with the same batch number. RentTrack creates one batch per day per deposit account type (rent, security deposit, application fee).  RentTrack will deposit all transactions on an "assumed good funds" model.  This means that you should deposit all the payments in a batch, even if you anticipate some may be returned later.  Each return will be deducted from your account separately, and should be entered as a separate reversal. You must post reversals manually, and you will receive emails with reversal details. 
  5. Choose the Bank Account to deposit to.If you have access to your online banking portal, verify that the total matches your bank deposit.
  6. "Deposit and Close"

Automated Batched Deposits

RentTrack has the ability to automatically create batches for the payments that will be deposited together. This feature must be enabled by your account manager after we have entered and verified the corresponding Bank IDs for your deposit accounts.

Once this is set up, we will create deposits each night, and add all related transactions to the appropriate deposit. 

To review and post the deposits:

  1. Go to Home → Transactions
  2. Select Type "Deposits"
  3. Specify a desired Date Range and click "Search"
  4. Double Click on the desired Deposit
  5. Verify the appropriate bank account (the correct one should be pre-selected).
  6. Verify the total matches your bank deposit.
  7. Adjust the Deposit Date if necessary.
  8. Click "Deposit and Close"

Returned or Canceled Payments

You will have to manually reverse any returned payments. You will also have to manually reverse any cancelled payments, because RentTrack posts in real time to Rent Manager. 

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