Via the integration with RentRedi, the system automatically imports a payment transaction for rent and security deposits as soon as the invoice is processed in RentRedi, whether it is electronically paid or manually marked as paid.

The payment transaction increases the 'Rent' (which recognizes the revenue) or 'Security Deposits Held' account. It is received in either the RentRedi Electronic Payments account or the RentRedi Manual Payments account, which are synthetic clearing accounts.

When the deposit corresponding to a RentRedi paid invoice hits your linked bank account feed in REI Hub, they should be booked using the 'RentRedi Deposit' transaction type. This books a transfer transaction from the RentRedi Payments account to your bank account, which shows the bank account as the final destination of funds without duplicating the revenue already accounted for through the integration.

However, sometimes the deposits corresponding to paid invoices in RentRedi are booked as Revenues instead of RentRedi Deposits (transfers). This is especially the case for deposits corresponding to manually marked as paid invoices in RentRedi, which results in incorrect and overstated revenue numbers.

The system does attempt to prevent you from booking duplicate revenues. We display a flag on the Revenue transaction type to help prevent double-booking rent, so if you see the notice below when booking a rent deposit, you should likely switch to the RentRedi Deposit option.

Many of your reports will show if revenue has been marked twice. Reports like the Net Income by Period, Operating Cash Flow by Period, and Net Operating Income by Period will all show revenue monthly.

If these numbers look higher than anticipated, you can click the blue number that will populate all the transactions totaling that amount.

The easiest way to see this is by navigating to the Transactions tab on the left-side menu, then selecting Revenues. Under the graph, change "All Revenues" to instead show what has been booked to "Rent."

Once filtered, you will see any transaction that was booked using the 'Revenue' transaction type in detail.

The transactions we get from RentRedi for the security deposit and rent values follow the same naming structure every time; the word Rent and whether it was electronically or manually collected:

These are the descriptions that should be on each transaction marked as revenue to the Rent account! If there are any other transactions from the bank account here, those need to be undone. You can click on "view" next to the transaction and click "undo."

The transactions that were undone from the Revenues page will now become unbooked transactions in your bank account's import feed.

Click Book next to the transaction, then select RentRedi Deposit as the transaction type.

If you marked the invoice as paid in RentRedi, DO NOT record the corresponding deposit as revenue. The revenue has already been recognized, and we don't want to inflate it, so use the RentRedi Deposit transaction type.

If you try to book a revenue over $100 from a RentRedi-connected account, the system will display the following flag to help ensure that you do not accidentally double-book your revenues.

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