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Tracking Deposited and Undeposited Payments

Track payments as deposited or undeposited to maintain accurate records and distinguish verified deposits from pending ones.

Hrant Minasyan avatar
Written by Hrant Minasyan
Updated over 2 months ago

Managing Deposited and Undeposited Payments in Rentopian

Rentopian allows you to track payments by marking them as either deposited or undeposited. This feature helps businesses maintain accurate financial records by distinguishing between payments that have already been deposited into a bank account versus those that are still pending verification.

Additionally, you can set default deposit statuses for specific payment methods, ensuring consistency and reducing manual adjustments.

Note: Payment methods such as ACH transfers and checks often require manual verification before being marked as deposited, whereas credit card payments are typically deposited automatically.

Setting Default Deposit Status for Payment Methods

  1. Navigate to Settings > Financial and Payments.

  2. Click on Payment Methods.

  3. Locate the payment method you want to configure.

  4. Edit the payment method and choose whether it should default to deposited or undeposited.

  5. Save the changes.

For example, you may want to set ACH and check payments to default as undeposited so you can verify them later before marking them as deposited.

Viewing and Updating Payment Deposit Status

  1. Go to Accounting > Payments.

  2. Review the payment list. The Deposited column will indicate whether each payment has been marked as deposited.

  3. To update a payment’s status:
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    • Click on the edit icon of the payment and mark it as Deposited.

    • Click Update to save changes.

Marking Multiple Payments as Deposited

  1. Go to Accounting > Payments.

  2. Use the filters to select specific payment methods (e.g., check or ACH payments).

  3. Select all payments that have been verified as deposited.

  4. Click on Actions and choose Mark as Deposited.

This bulk action is useful when multiple payments are included in a single bank deposit.

Summary

By properly marking payments as deposited or undeposited, you ensure accurate financial tracking in Rentopian. Setting default statuses for different payment methods can help streamline this process and reduce manual work.

If you have any questions about this feature, feel free to reach out to our support team.

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