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Setting Up Secondary Operating Accounts for Security Deposits

Secondary operating accounts help you direct payments for specific accounting items, such as security deposits, to a different bank account than the default operating account. Owners managing multiple properties can specify by property.

Written by Dylan Telson

Managing Operating Accounts

Operating accounts let you decide which bank account should be used for specific transaction types.

For example:

  • Main Operating Account: Rent

  • Additional Operating Account: Security Deposits

Once configured, payments tied to the selected item will deposit into the assigned bank account, while other transactions continue using the default operating account.

Add an Operating Account at the Company Level

  1. Click Companies in the left navigation menu.

  2. Select the company you want to update.

  3. Open the Company tab.

  4. In the Operating Accounts section, click Add.

  5. Select the item you want to assign to a separate operating account.

  6. Click Save.

  7. Expand the operating account you added.

  8. Click the pencil icon.

  9. Select the bank account that should be used for this item.

  10. Click Save.

Add a Property-Level Operating Account Override

By default, property operating accounts mirror the company-level settings. You can override those settings for a specific property when needed.

  1. Click Properties in the left navigation menu.

  2. Select the property or unit you want to update.

  3. Open the Property tab.

  4. In the Operating Accounts section, click the menu button.

  5. Select Add Operating Account.

  6. Choose the item or expense category for the override.

  7. Click Save.

  8. Click the pencil icon next to the account.

  9. Select the bank account that should be used for that property.

  10. Click Save.

Delete a Property-Level Operating Account Override

If you no longer need a property-level override, you can remove it from the property’s operating account settings.

  1. From the property’s Property tab, go to the Operating Accounts section.

  2. Click the menu button.

  3. Select Delete Operating Account.

  4. Choose the operating account you want to remove.

  5. Click OK to confirm.

Deleting the override removes the property-specific setting. The property will continue using the applicable company-level operating account settings.

Important Notes

  • Company-level operating accounts apply to all properties for that company unless a property-level override is added.

  • Property-level overrides only apply to the selected property.

  • The pencil icon may not be visible right away. Hover over the account field to display the pencil icon before editing.

  • Secondary operating accounts help ensure payments for specific items, such as security deposits, are deposited into the correct bank account.

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