How do I reconcile rent reminders transactions in bank account with rental property manager?

Question

I automatically download transactions from a bank account associated with my rental property. After tagging all of those transactions, they do seem to appear in rental property manager (although it's a bit hard to tell because right now the date range is broken).

When I enter the info as required, it seems to setup rent reminders. I'm just wondering what the work flow is supposed to be to reconcile those reminders with transactions that are automatically downloaded and whether I need to manually enter transactions?

If I do have to enter manual transactions, I suppose my follow up question would be why I would do that? Like what is the actual benefit to doing this inside of rental property manager if the same transactions, categories are represented in other accounts, autocategorized, etc?

NotACPA · Accepted Answer

You need to record those rents rec'd in the Rental Prop Mgr itself and associate them with the correct tenant/property.
IF the tenant pays by OTHER than check (probably electronically) you can direct that payment  to your bank account where it will be Matched when you download from  the bank.IF they payment is by check,  I'd record it as a transfer to an intermediate account (I call mine "Undeposited Checks") and then when you actually deposit the checks, you record the ENTIRE deposit (not individual checks) as a transfer to your bank account.  This,  also, should match with your downloads.

UKR · Accepted Answer

You have posted a similar question about recording Security Deposits here:
https://community.quicken.com/discussion/7883911/how-do-you-record-a-security-deposit-and-reconcile-it-with-deposits-to-a-checking-account#latestI hope my answer helps you with that issue.As to recording downloaded transactions from your Checking account and making them show up properly as Rent received and/or Security Deposit received, I recommend you always use the transactions in the Rent Center dialogs to record the necessary transactions in Quicken BEFORE you download any rent-related transactions from the bank.
Switch your Checking account to NOT automatically accept downloaded transactions. Instead, manually review all downloaded transactions and, before you click accept, make the necessary changes to match each downloaded transaction to its proper counterpart in the register.Quicken H&B and the Rental feature were designed long ago, when there was no process to download transactions from the bank. For best results I still recommend you manually record everything inside Quicken before you download, match and accept bank transactions. That's IMHO, the only way to ensure that everything is recorded properly.