This article will show you how to create a New Posting Setting within Rentvine.
- To create a New Posting Setting, you will need to go to the Settings
- In the Settings menu, click Postings
- This will bring you to the Postings screen and show all Postings Settings you have created on your account
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Click the green button labeled ‘ + New Posting Setting'
- Enter the Posting Settings information:
- Name (required) - This is the name of the Posting Setting
- Operating Trust Bank Account (required) - This will be where all charges that are not marked as Held Liability will be allocated; An example would be Rent Income
- Escrow Trust Bank Account (required) - This is where all charges marked as a Held Liability & Tracked as Security Deposit should be allocated; An example would be a Security Deposit
- Lease Refund Bank Account (required) - Which bank account a tenant is refunded during the move-out flow
To check if a Chart of account is marked as Held Liability, go to the chart of account settings and if the Held Liability toggle is green, this means it is a Held Liability
- Click Save to finish creating this Posting Setting
Changing a Posting Setting on a portfolio will not automatically transfer funds from the previously linked Bank Accounts to the new Bank Accounts associated with the updated Posting Setting. You will need to complete a bank transfer to transfer these funds, How to do a Bank Transfer