Propertyware Knowledge Base

Propertyware allows you to set up a Default Bank Account for each Portfolio. All tenant payments received for a specific Portfolio will be deposited into that Portfolio’s Default Bank Account. This Default Bank Account will be automatically selected when recording tenant payments on the Tenant Ledger or Quick Collect (located within the Money In Tab).

Similarly, Propertyware allows you to set up a Default Security Deposit Account (Default SECDEP Account) for each Portfolio. If you designate a bank account in the “Default SEC DEP Account” field on the Portfolio Summary Page, this account will be automatically selected when terminating a lease and performing the move-out calculation (i.e., refunding all or part of a security deposit). Security deposits will be refunded from this default account.

Setting a Default Bank Account and Default Security Deposit Account for a Portfolio:

1. Click the Properties tab.
2. Select a Portfolio from the Property Navigator Menu on the left side navigation. A portfolio icon will appear next to each of your Portfolios.
3. Click the Edit button at the top of the page.
4. Select both your Default Bank Account and Default SECDEP Account from the dropdown menus. To create a new bank account before setting these default settings, go to the Chart of Accounts within Setup>Customize Chart of Accounts. Note that: you must be a Propertyware Administrator to create new Bank Accounts.
5. Click Save.