Frequently Asked Questions

In simple words, trust accounting allows property managers to manage rent and booking payouts by homeowner (or any grouping) to better organize their finances and increase transparency with homeowners. Trust accounting avoids mingling funds from different owners in the same balance. A great trust accounting system will always help you to easily organize and track your finances as you scale your business.

Yes, the implementation fee covers an hour long session to walk you through the onboarding and train you on the platform. We also have a dedicated support team to answer any questions post onboarding.

Yes, please visit our demo page.

Clearing is a complete expense and revenue management software tailored for property managers & real estate investors to close their books & reconcile their accounts faster. Clearing helps to track cashflow from multiple sources (Stripe, Airbnb, bank accounts, credit cards, and more) in one place. It’s an easy way for operators to set up their trust accounting to collect funds and pay homeowners.

Yes, you can link as many Stripe account as you need.

No, you can use Clearing even if you don't have a Property Management Software.

Clearing is integrated with Hospitable, Guesty, Hostfully, OwnerRez, Hostaway and Uplisting. We are working on new integrations with more Property Management Software. Let us know the PMS you use, and we can let you know when it’s ready to use.

You can retrieve and create classes, chart of accounts, customers and vendors directly from Clearing. Each transaction can be mapped to QBO elements to create deposits, expenses and journal entries with the right class, account and more.This is a great way to assign a class to each listing and automatically track your cashflow by listing.

Yes, for now only QuickBooks Online is integrated. We plan to integrate other accounting software soon.

It’s a simple one step integration to connect a QuickBooks Online account. You can retrieve and create classes, chart of accounts, customers and vendors directly from Clearing. Each transaction can be mapped to QBO elements to create deposits, expenses and journal entries with the right class, account and more.This is a great way to assign a class to each listing and automatically track your cashflow by listing.

Once a Stripe account is connected, we retrieve and display all the relevant information under each payout: bookings revenue, refunds, adjustments, fees, etc.

Yes, it takes less than one minute to open and close a zero-balance account.

Yes, with your authorization, any third party can pull funds from a zero-balance account. The funds will actually come from the main balance. This is a great way for utility companies and vendors to debit your account on autopay.

You can open up to 200 zero-balance accounts.

Zero-balance accounts are bank accounts that don’t hold funds. They roll up to a single balance. They each have a unique account number and act as a pass through.As a result, deposits into a zero-balance account flow directly to their main balance. Payments from a zero-balance account will use funds from their main balance, automatically.Zero-balance accounts allow you to organize your flow of funds without the hassle of maintaining a balance in multiple accounts. Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

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

Yes, each zero-balance account has a unique account number.

Zero-balance accounts are bank accounts that don’t hold funds. They roll up to a single balance. They each have a unique account number and act as a pass through.As a result, deposits into a zero-balance account flow directly to their main balance. Payments from a zero-balance will use funds from their main balance, automatically.Zero-balance accounts allow you to organize your flow of funds without the hassle of maintaining a balance in multiple accounts. Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Yes, you can pay vendors via ACH directly from Clearing and you can provide virtual bank accounts numbers to third party vendors for automated payments.

Yes, any domestic US bank account can be paid from Clearing via ACH.

Yes

Clearing supports ACH transfers.

Same-day ACH is coming soon. We will notify you once ready.

There is no limit on incoming funds to your main balance. There is a $10,000 limit per transaction for payments made from your balance to an external bank account.There is no daily or monthly limit.

An ACH is an electronic fund transfer made between banks and credit unions across what is called the Automated Clearing House network.

You would simply add a homeowner as a recipient and provide their bank account information: account and routing numbers. Then you can send funds to this recipient.

Yes. You can send funds via ACH (bank to bank transfer, in the US).

We don’t currently issue debit or credit cards.

Yes. With Plaid, you’re in control. You choose whom your data is shared with, for what purpose, and how long.

We collect the account number, routing number and then transactions from & to this account.

Plaid is a financial technology company that makes it easy to securely connect your bank to the apps you want to use.

We partner with Plaid to allow you to link external credit cards to Clearing (e.g., American Express, Chase, etc.)

There are 2 ways to link an external bank account:1. We partner with Plaid to allow you to link your bank account in Clearing. You will be able to manage transactions from this external bank account in Clearing.2. We send 2 micro-deposits to this external account. You then enter these 2 amounts in Clearing to verify that you own the account.

They will have access to your transactions with permission to edit categories and allocation by property. They won’t be able to create new virtual bank accounts or move funds.

Homeowners will have read-only view of their properties finances which includes transactions, reporting and view of their balance. Homeowners are limited to exporting data but can't perform any other actions.

Yes, Clearing generates owner statements that can be customized and shared with homeowners via email.

Yes, you can edit each owner statement to hide or add line items. You can include your property management logo as well.

You can invite your accountant and employees to categorize your transactions. They won’t be able to move funds.You can invite homeowners to visualize their property finances. They are read-only users and can’t move funds or access your accounts.

Yes. They will have access to your transactions but won’t be able to move funds.

Clearing makes security a top priority. Some of the practices we have implemented to ensure your account safety include:• Requiring HTTPS on all pages, and use HSTS to ensure browsers only ever connect to us over a secure connection.• Employing a third party to perform penetration testing each year to check for vulnerabilities.• Storing passwords hashed with the bcrypt algorithm. We never store or log your plaintext password.• Using time-based One Time Passwords for two-factor authentication. We never send authentication codes via insecure channels like SMS.• Encrypting our database and all uploaded images. • Never accessing and storing your card numbers.

Yes, each journal entry can be customized for a specific category and property.

Yes, you can split transactions into multiple transactions, each with different categories or property allocation.

Yes, you can create as many tags as you want.

You can automate your bookkeeping by creating rules by account, merchant, type of transaction, listing and more. We recommend scheduling a demo to show you how rules work.

Yes, transactions can be allocated by homeowner.

Yes, you can create and use your own categories and tags.C26

By connecting all your sources of information in the same platform, we are able to match data to automatically categorize transactions and allocate them by listing.

Yes. You can create rules to automate your categorization and allocation. Rules can be created by merchant, by bank account, by listing and even by type of transaction.

No, you can keep your existing bank account. Clearing partners with Evolve Bank & Trust to let you open virtual bank accounts.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. This balance can be attached to one or multiple zero-balance accounts that each have unique account numbers. You can provide each account number to any third party to send funds to you. Funds will flow directly into your main balance. Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Absolutely not. You can keep your existing bank account(s). We recommend using zero-balance accounts opened through Clearing to collect funds with a trust-accounting approach. Learn more in the Zero-Balance account section.

Yes, you can create sub-ledgers to set aside a portion of the funds from your main balance. You can always add & remove funds from a sub-ledger. Coming soon: rules to automatically populate sub-ledgers.

There are 2 ways to funds the main balance:1. You can send funds from your current bank account to your main balance account number via ACH. (bank to bank transfer)2. You can link your existing bank account in Clearing and initiate a transfer in Clearing from this account to your main balance.

You will have a main balance for each business (i.e. legal entity) that you manage in Clearing.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. You can receive funds into this balance or use it to make payments to external bank accounts.Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. This balance can be attached to one or multiple zero-balance accounts that each have unique account numbers. You can provide each account number to any third party to send funds to you. Funds will flow directly into your main balance.Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000.

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