When reconciling income and expenses via our bank feeds feature you can now split a single transaction into multiple categories and across multiple properties when reconciling from the bank feeds.
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What You Need To know
Landlord Studio allows you to connect your bank account and import transactions automatically, which makes reconciling your accounts easier and faster. In this guide, we will walk you through reconciling as multi-line transactions.
This feature is currently only available in the USA, UK, and Canada.
We have partnered with Plaid and will be rolling this feature out to the rest of the world as they expand into new countries.
Read our Bank Feeds Security Fact Sheet here.
When choosing your subscription plan it's important to note that Bank Feeds is only available on our PRO plan.
How to Split Income on Mobile
Step 1: Open the app and navigate to bank feeds.
Step 2: Select the transaction you want to split and click on Split.
Toggle Split Evenly to divide the total evenly across multiple splits.
How to Split an Expense on Mobile
Step 1: Open the app and navigate to bank feeds.
Step 2: Select the transaction you want to split and click on Split.
Toggle Split Evenly ON to divide the total evenly across multiple splits.
How to Split a Transaction into both Income & Expense on Mobile
The latest update to the iOS & Android app allows Landlords to split a single bank transaction into both income and expenses on mobile.
This means that Landlords using AirBnB or property managers/letting agents can now reconcile an income transaction as rent payments and management fees or commission at the same time.
Step 1: Open the app and navigate to bank feeds.
Step 2: Select the transaction you want to split and click on Split.
Step 3: Select either Payment or Expense for each split transaction.
Step 4: Toggle Split Evenly ON if you wish to divide the Total Amount evenly across transactions of the same type.
*Select Add split and repeat Step 3 and Step 4 as many times as required.
Step 5: Continue to split your transactions until the remaining amount is $0.00.
Note that this feature is currently available on mobile apps only. We're working on updating the web portal to provide the same functionality.
Unreconcile a Split Transaction
If you erroneously reconciled a transaction, you can unreconcile it easily by navigating to the “Reconciled” page.
The income that has been split will have the split transaction symbol. Click on the three dots for the transaction you want to unreconcile and hit “Unreconcile”. It will ask you to confirm.
Hit “Continue” and this will unreconcile the transaction and remove all of the entered incomes that were created when you reconciled.