Integrated Accounting

Rent Magic 2.1 and greater allows the ability to integrate property management transactions into the accounting subsystem. For example, whenever you charge rents, your income would be credited, and your Rent Receivables would be debited. As well, you will have the ability to integrate your bank deposits into your transactions, so that you can group many transactions together in one deposit.

The following is a table of which accounts would get credited and debited on various transactions:

Transaction Type	Credited	Debited
Rent Charge	Rental Income	Rents Receivable
Rent Paid	Rents Receivable	Bank
Credit	Rents Receivable	Rent Credit
Misc. Charge	Other Income	Other Receivable
Paid	Other Receivable	Bank
NSF Service Charge	Other Income	Other Receivable
NSF Cheque	Bank	Rent Receivable
Bonus Credit	Rent Receivable	Tenant Credit
Transfer From LMR	LMR	Rent Receivable
Transfer to LMR	Rent Receivable	LMR

Starting with Rent Magic 2.01.01, you have the option to disable integrated accounting. See Accounting Settings for more information.

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