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:
Go to Property Tank
Select the relevant property
Click the See Details button
Head to the Income tab
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.