Feature Release: Introducing Custom Categories for Organizing your Financial Transactions

Discover how Clearing's custom categories feature empowers property managers to categorize transactions accurately, streamline financial management, and optimize bookkeeping. Create tailored categories for revenue and expenses, adapt to evolving business needs, and simplify your transaction workflow. Enhance your property transaction management with Clearing's user-friendly solution.

August 17, 2023


Feature Release: Introducing Custom Categories for Organizing your Financial Transactions

Managing different types of transactions and accurately categorizing them can be a complex task for property managers in the Short-Term Rental industry. With revenue and expense categories being the primary groups for transaction classification, there are numerous sub-categories within each type, such as rent for revenue, or utilities for expenses. This variety of transaction types makes categorizing property transactions accurately and efficiently extremely difficult and time consuming; but, this classification task is of upmost importance, so it is important to get it right!

One way to improve accuracy and efficiency when you categorize property transactions is to use a software that allows you to create custom categories that fit your unique bookkeeping needs.

While simple classification of transactions can get you a part of the way to completion of your books, the diverse nature of transactions requires the ability for you to build a fully custom book of business, with sub-categories that meet your business’ needs.

To solve this problem, Clearing now offers a solution that enables users to create custom categories, essentially giving you complete control over how you manage your books, and how you classify your transactions. This new feature empowers property managers to accurately categorize transactions as they desire, track finances effectively, and streamline the completion of accurate and efficient bookkeeping. Further, granular bookkeeping rules can be created to leverage these categories and allocate transactions automatically.

Users can enjoy Clearing's user-friendly interface to create custom categories tailored for various profit and expense categories. Combine this with our collaboration tools, property owners or beneficiary owners can now stay updated on their property’s finances, in real time, and make wise business decisions based on factual information reviewed at any given moment.

Sign up for a live demo to see Clearing's custom categorization tools in action.

Discover how Clearing can revolutionize your rental property’s financial management and put your team’s bookkeeping on autopilot!

For more information about how to get started with custom categories, refer to our comprehensive knowledge articles for step-by-step tutorials 😃

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

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