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How to add property incomes and monthly statements

Learn the process of adding property incomes and expenses from your monthly statement to ensure accuracy.

Updated over a week ago

You can add property income either from within Property Tank or by allocating it directly from Bank Feeds.

This article will show you how to:

  • Add income from Property Tank

  • Match the income with a bank transaction once the payment is received

Step 1: Navigate to Property Tank

To get started:

  1. Go to Property Tank

  2. Select the relevant property

  3. Click the See Details button

  4. Head to the Income tab

  5. Click the Add button

Step 2: Enter Net Payment Details

In the pop-up window, start by entering the net payment details – this is the amount that will land in your bank account, after any fees.

  • Net Payment: The actual amount you’ll receive

  • Date: Use the statement date or the expected payment date

  • Category: Start typing to search and select (e.g. Rental Income)

  • Description: Add a clear label (e.g. May Rental Income)

Step 3: Add Any Fees

TaxTank adds back fees to ensure your gross rental income and expenses are calculated correctly. You'll find these fees listed on your property manager’s statement (unless you're self-managing).

For each fee:

  • Category: Start typing to select the correct one (e.g. Management Fees)

  • Amount: Enter the fee amount

  • Click Add Fee to enter each one.

Step 4: Attach Statement and Confirm

Once all fees are added:

  • Double-check the gross income is correct

  • Attach a copy of your management statement for your records

  • Hit Save to finish

Your income entry will now be ready to match when the payment shows up in your bank feeds.

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