Have you opened up a new bank account or are switching to a use a different bank account? This article will show you how to create a new Bank Account in the Chart of Accounts settings.
Please note this will only create the Chart of Account for the Bank Account, this will not enable electronic payments. To enable electronic payments for a Bank Account please follow the steps below and reach out to support@rentvine.com afterward. If you are also swapping Bank Accounts, you will need to reach out to our support team and they can further assist you once you complete all these steps.
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Click your initials in the top right corner to access the Settings screen.
- Click Chart of Accounts > and click the green + New Account button
- Name (required) - The new Bank Account Chart of Account name
- Number (required) - New Chart of Account number
- Account Type (required) - Select Bank
- Once Bank is selected as the Account type, additional options will appear.
On the Chart of Accounts creation screen, enter details for the new Bank Account.
- Once Bank is selected as the Account type, additional options will appear.
NACHA Enabled: You will see this option to enable NACHA
For instructions on enabling NACHA, review this article:
Setting Up NACHA (Starting on Step 5)
- In the Bank Account Details section you will need to input:
- Bank Account Type - You can select either a Checking or Savings Account
- Next Deposit Number - This will be the next check deposit number for this Bank Account, normally this is set to 1
- Routing Number (required) - This is the Routing Number of the Bank Account. Please ensure these numbers match
- Account Number (required) - This is the Account Number of the Bank Account. Please ensure these numbers match
- The Use for Escrow Tracking toggle is meant if this is for a Security Deposit Bank Accounts. These funds will not show on the operating balance on a portfolio
- The Enable Checking toggle is a requirement if you are sending any type of funds from this Bank Account.
- Once the Enable Checking toggle is turned on, additional fields will appear.
- You can select the Check Template from here that will populate when you print checks from this Bank Account specifically
- Next Check Number will be the next check number printed from Rentvine when making check payments.
- Check Address (required): Enter your Property Management Company Information
- Bank Address (required): Enter the Bank information for this account specifically
- Once the Enable Checking toggle is turned on, additional fields will appear.
- Once this is all submitted, this will create the Chart of Account for the Bank Account and you can all the information
All this information can be edited at any time by selecting the Banking tab > clicking the Bank Account > and click Edit
- After you have completed these steps and verified all information is correct, please contact support@rentvine.com in order to enable electronic payments for this account. If you are also swapping Bank Accounts, you will need to reach out to our support team and they can further assist you once you complete all these steps. This will allow our team to finalize and set up the Bank Account on our end for you to use.