I’ve linked a bank account and a property manager portal to one property. Both show rental income which is double counting as I can see in the cashflow. In the property manager portal it shows gross rent and the bank imports net rent (after property management fees and any other costs). Do I need to manually delete rent entries from the bank account each month and only track the rent from the property manager portal?
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@alexander.h.ramos Yes, you’ve got it right. When you have a PM connection set up, it will typically feed data to your Transactions page at a more granular level than the linked bank account. I’m assuming you’re getting the “property management fees and any other costs” line items from your PM as well? If so, you can safely delete the net deposit transactions from the bank end of things. You’re also welcome to simply categorize the bank deposits as “Transfers” if you want to leave them in the system for reference but ignore them for all reporting purposes.
Hope that helps and feel free to reply with any follow-up questions!
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I’ve the same issue, and i manually delete the bank entry. It’ll be great if Stessa can automatically figure out that those two entries are the same. Or a simpler way may be to allow us to auto-categorize transaction of type "ACH depost from " as “Transfers” so that we don’t have to do it manually.
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I deleted one of the duplicate entries and when the screen refreshed it had deleted both of the duplicate entries. Now it wont allow me to add them back?
I tried the suggested methods and finally gave up. Turned off import from property management. Too messy for me.
From my limited knowledge of accounting, the PM imported transactions did not make sense for ‘cash in and cash out.’ So much duplication and wasted effort. And accidental deletion of transactions.
I have resorted to the linked bank account only, and split the net deposit plussing-up the cash in and creating the management fee cash-out. Otherwise it has been too difficult to manage.