You can link your bank to DigitalTenant with Plaid to bring in your bank transactions for bookkeeping. Then you tag each transaction with a category and a property, so your reports are accurate.
Plaid only reads your transactions. It is not where rent is deposited. Online rent payments go to your payout bank account, which you set up separately under Accounting, then the Bank Accounts card. You can use the same real bank for both.
Before you start
- Permissions: team members need the Finance transactions permissions. The account owner can turn these on under Settings then User Roles.
- Have your online banking login ready. You type it into Plaid's window, not into DigitalTenant.
1. Add a bank account
- Go to Accounting, then the Finance Dashboard card. Open the Transactions tab, then the Accounts sub-tab.
- Click Add New Account.
- Enter an Account Title and a Description, then click Next.
- Under Connect Your Bank Account with Plaid, click Connect.
- In Plaid's window, pick your bank and log in.
When it works, you see Account Connected Successfully!
2. Check the Accounts list
The list shows each account's title, description, account name, bank balance and bank name. The Bank Name column shows Connected, or a Connect Account button if the link was not finished. Click an account's title to open it once it is connected.
An account's page has an Overview tab (status, balances, bank details and Last Synced) and a Transactions tab with just that account's transactions.
3. Find your transactions
On the Transactions tab, open All Bank Transactions.
- A card for each linked bank shows the bank name, when it was last updated and the balance. Click a card to see only that bank.
- To pull in new transactions, open the card's ⋯ menu and click Refresh.
- Filter by Select Property, Select Bank Account, From Date and To Date, or click Reset. Use Sort By (Date or Amount) and Order, or the search box.
4. Categorize each transaction
- In the row's Category box, pick the most specific option. For example, Income, then Rental Income, then Monthly Rent. It saves right away.
- In the Property box, pick the property, or a unit under it. It saves right away.
The main category groups are:
- Income: Rental Income, Late Fees, Pet Fees.
- Expenses: Advertising, Auto/Travel, Maintenance, Insurance, Legal/Professional, Management, Repairs, Taxes, Utilities.
- Financial: Mortgage, PMI, Security Deposits, Money Transfer.
Each group has its own sub-items.
5. Add, import, edit or export transactions
- Add New Transaction: fill in the Property, Select Category, Transaction Details (up to 100 words), Transaction Amount and Date. Choose a Unit if the property has units. Click Add.
- ⋯ then Import: pick the Property (and Unit), upload one .csv file under Upload Media, and click Submit. Click Download sample CSV to get the right format. You will see how many rows were imported and skipped.
- ⋯ then Export: downloads a CSV of the transactions you have filtered.
- Use the row's Action menu to Edit or Delete a transaction. Tick several rows to delete them together.
Good to know
- Account shows Connect Account? The bank link was not finished. Click Connect Account and complete Plaid's steps.
- The window closed and nothing changed? Check the Accounts list and try Connect Account again.
- Account shows Connect Again? Contact our support team and we will help you reconnect it.
- Transactions look out of date? Use Refresh on the bank card. If refreshing keeps failing, try again later.
- Cannot pick a category? Only the last level can be picked. Open the group and choose a sub-item.
- Import error? Make sure you upload a single .csv file.
- Deleting a bank account also deletes all of its transactions. This cannot be undone.
- Upgrade message when exporting? Your plan has reached a limit. Check Settings then Subscription.
- Categorize each month's transactions so your Income & Expense (P&L) and Bank Account Report are accurate.
Need help?
Email us at support@digitaltenant.com, or use the Help button in the bottom-right corner of your dashboard.