Accounting within Street

This article will take you through the key stages of receipting, reconciling, allocating and processing payments in your Street account. However before getting started, please ensure you have setup your Accounting Settings.

The main accounting workflow all takes place in the accounting section. Head to the Accounting tab on the left hand side panel.

The first step of the daily accounting workflow is to import your bank statement containing all incoming and outgoing transactions. Head to the Bank Accounts section and click 'Import Statement'.

You will need to map the fields on your bank statement correctly in Street so Street know what each column of data relates to. For more information, see our Importing a Bank Statement help article.

The second step of the new workflow is to receipt and reconcile your bank transactions. You will see this page after importing your bank statement however you can also access it from the Bank Accounts page via the Reconcile button.

This process allows you to receipt incoming transactions into Street, reconcile them against the bank transaction and allocate rent payments to rent charges all in one click. Additionally you can reconcile any existing transactions in Street, such as outgoing payments. For more information see our Receipt and Reconcile help article.

The third step of accounting is to allocate the money received onto the owner ledger to the owners, contractors and your agency. Head to the Allocate Funds page within the Accounting section and you will see a breakdown of any money received or available on the owner ledger that has yet to be allocated (such as rent income) followed by a breakdown of any float being held and any fees.

Once you've allocated the available money, you'll be able to pay the owner their share (assuming there are sufficient funds to do so). For more information see our Allocate Funds help article.

The fourth and final step is to process payment in Street which will create the payment files for your online banking. Head to the Payments to Make page where you will see tabs for paying owners, contractors, your agency, tenants, deposits and NRL tax.

Upon clicking Pay Owner, Contractor, Tenant etc this will deduct the monies from the ledgers and the overall Street Balance as well as create a payment file that you can upload to your bank to make physical payment. It's also worth noting at this point the statements are sent out to your Owners, Contractors, etc. Copies of these can be found within the respective ledger pages, under statements.

For more information see our Payments to Make help article.