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Managing financial records in property management can be challenging, especially when dealing with multiple data sources like bank accounts, credit cards, and booking data from your property management software. These financial records are essential for accurate reporting, but manual data entry and fragmented information can lead to errors, inefficiencies, and missed transactions. Without an organized system, keeping track of transactions, expenses, and bookings becomes cumbersome.

Clearing offers a comprehensive solution to this problem by automating the process of pulling in transaction data from bank account connections and syncing booking data from your property management software (PMS). This automation reduces the need for manual data entry, enhances financial visibility, and helps property managers stay on top of their trust accounting.

Clearing simplifies financial management by automatically syncing transaction data from bank accounts and credit cards using Plaid. This ensures up-to-date financial records while also allowing manual entries for transactions not captured, like cash payments. For booking data, Clearing integrates with your property management software (PMS) to automatically reflect bookings, cancellations, and adjustments. The system’s automated syncing reduces errors, improves financial visibility, and streamlines trust accounting, making financial management more efficient and transparent.

Clearing relies on bank account connections to import transaction data automatically. These connections are facilitated through a third-party service called Plaid, which securely links your financial institutions (such as bank accounts and credit cards) to Clearing.

Log in to Clearing and navigate to the “Accounts” section from the left-hand menu.

In the Accounts section click on “Bank Accounts” option to view all your connected accounts.

If you need to add a new bank account, click on “Link External Account,” and a window will appear for you to enter your bank information.

For credit card transaction data, select “Credit Cards” option to view connected credit cards.

To add a new card, click on “Link External Card” and enter the required details.

Regularly refresh your bank and credit card connections to ensure continuous data flow. If the connection becomes disrupted, log back into your connected accounts to re-establish the link.

After setting up your bank and credit card connections, you can manage your transaction data effectively within Clearing.

Navigate to the “Transactions” tab to view all imported transactions, including credit card transactions, bank transfers, and other financial activities. If you prefer to see the transactions from a specific bank account or credit card, you can use our filter capabilities to filter for the relevant data.

For transactions that do not automatically sync with Clearing (such as cash payments), manually enter them as journal entries. Click on the “New Transaction” button in Transactions section.

Once clicked on New Transaction button, a window will appear where you can enter the details of the new transaction to be added.

Click on the “Recurring Transaction” button to set up recurring transactions to automate frequent charges, such as maintenance fees.

You can also use the Import function for bulk data imports, especially when handling large amounts of transaction data from external sources. For this click on “Import Transactions” button.

Clearing also helps you manage booking data by syncing directly with your property management software (PMS). This allows you to automatically track revenue and expenses for each booking, ensuring comprehensive financial records.

Log into your Clearing account and go to the settings menu, click on “Integrations”.

Here you can easily connect your property management software by following the steps associated with it. Once connected, the software will indicate it as shown below.

Once connected with property management software (PMS), Clearing automatically updates your booking data, reflecting every transaction related to bookings in real time. This ensures that all revenue from bookings and related booking expenses are correctly captured.

Navigate to the “Bookings” tab to view all the bookings.

If any bookings are not captured through the PMS, like a direct booking processed manually, you can add them by clicking on the “plus” icon in the Bookings section so you don’t miss this financial information.

Here you can enter all the required details to create new booking.

Take full advantage of Clearing’s powerful data management capabilities today. Whether you’re dealing with transaction data from bank accounts and credit cards, or booking data from your property management software, Clearing can seamlessly automate and streamline your financial records.

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Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.