Understanding Rent Payment Transactions in Stessa
When using Stessa for managing rent payments, users often encounter specific terms and behaviors on the Transactions page. This article provides a comprehensive explanation of how Stessa processes and categorizes rent payments, and clarifies frequently asked questions regarding transaction entries.
Overview of Rent Payment Transaction Flow
Stessa processes rent payments through its payment processor and updates the Transactions page with corresponding entries for tracking and categorization. When a tenant makes a payment, two key entries are created:
'Rent Payment | [TENANT NAME]' Entry: This system-generated entry reflects a rent payment submitted by a tenant. It is recorded in the tenant's ledger for tracking purposes and is categorized as “Rent.” This entry intentionally does not display an account in the Account column because it does not involve a direct bank transaction.
'Stessa Payout' Entry: This entry represents the actual movement of funds from Stessa’s payment processor into your Stessa Cash Management account (or an external account if connected). It is categorized as a “Transfer” and will show the receiving account in the Account column.
Display of the Account Field in Transactions
Many users notice that some rent-related transaction entries have a blank field in the Account column. Here's why:
Entries labeled as 'Rent Payment | [TENANT NAME]' intentionally do not display an account in the Account column. These are ledger entries assigned to the tenant account and are not actual bank movements.
The corresponding bank movement is displayed as a 'Stessa Payout' entry, which includes the account details.
Updates in Rent Transaction Classification
Stessa’s updated payment processing system has introduced changes to how rent-related transactions are categorized:
'Stessa Payout' Entries: Represent deposits into your cash management account and are always classified as Transfers.
'Rent Payment | [TENANT NAME]' Entries: Assigned to tenant ledgers and categorized as Rent. These entries may not appear directly under the Operations account.
This intentional design ensures accurate tracking on both tenant and landlord-ledger levels.
Source and Destination of Rent Payment Payouts
Funds from rent payments are processed by the rent payment processor and deposited into your Stessa Cash Management account. If connected, funds can also be directed to an external bank account.