A payout bank account is where rent your tenants pay online is deposited. It is set up through Stripe. Any invoice set to Online payment needs a connected payout account on its property.
This is different from linking a bank with Plaid under Accounting, then the Finance Dashboard card, then the Transactions tab. Plaid only reads your bank transactions for bookkeeping. It does not receive rent.
Before you start
- Permissions: team members need the Accounting bank account permissions. The account owner can turn these on under Settings then User Roles.
- Plan limit: your plan allows a set number of payout accounts. If you reach it, you will see a message with a button to your subscription page.
- Have ready: your bank details and the identity or business details Stripe asks for.
1. Start a new account
Use either of these:
- Accounting, then the Bank Accounts card, then Add New Account.
- A property's page, then the Connect Account tab, then Add a new account.
The form has two steps: Property Info and Account Info.
2. Property Info
- Enter an Account Title you will recognize, for example "Operating Account".
- Choose one or more Properties. Rent for every property you pick is deposited into this account.
- Click Next.
3. Account Info (Stripe)
Stripe's form opens inside the page. Fill in what Stripe asks for, such as your bank account, identity and business details, and finish. When you leave Stripe's form, you see Account added and return to Bank Accounts.
4. Check the status
Go to Accounting, then the Bank Accounts card, and look at the Status column:
- Connected (green): you are ready. Online invoices on those properties will work.
- Connect again: Stripe still needs something from you. Click it, finish the Stripe form in the Connect to Bank window, then check again. Stripe can take some time to approve an account.
You can filter the list by Property and Status. Use View to open an account or Delete to remove it.
Manage the properties on an account
Click View on an account to see the properties linked to it.
- Click Add New Property, search for the properties you want, then click the Add button (it shows how many properties you picked).
- To remove a property, use the remove option on its card and confirm with Remove. Payments for that property's existing invoices are paused until you connect it to another bank account.
Link an existing account to a property
- Open the property's page and go to the Connect Account tab.
- Click Link an existing account.
- Pick an account. Each one shows Connected or Not connected.
- Click Add Property.
Good to know
- Always check the Status column after setup. Account added appears whenever you close Stripe's form, even if setup is not finished.
- Starting from a property's Connect Account tab? Make sure that property is ticked under Properties before you click Next.
- Set up your payout account before you create invoices. If you click Connect a bank account from the invoice form, you leave the page and lose what you typed.
- Invoice form says "This account isn't fully connected yet"? Click Connect again on the Bank Accounts list and finish Stripe's form.
- Invoice form says "Connected account not found"? The property is not linked to any payout account. Add it from the account page or the property's Connect Account tab.
- Tenant sees "Payment Unavailable"? The property's payout account is not connected. Finish the setup above.
- Reached your plan limit? Upgrade under Settings then Subscription, or add the property to an account you already have.
- Stripe's form does not load? Refresh the page and try again.
Need help?
Email us at support@digitaltenant.com, or use the Help button in the bottom-right corner of your dashboard.