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Accounting

Accounting

RentFig includes a full double-entry accounting system built for UK landlords. Import bank transactions, track income and expenses, reconcile rent, and generate HMRC-ready reports — all without a separate accounting package.

Getting Started

  1. Set up your bank accounts — Go to Accounting and add each of your bank accounts. Enter the account name and opening balance so your records start from the right point.
  2. Import transactions — Upload a CSV export from your bank to bring transactions into RentFig. Use Bank Rules to automatically categorise recurring items (e.g. mortgage payments, utility bills) so future imports need less manual work.
  3. Categorise and reconcile — Review imported transactions and assign each one to a category from your Chart of Accounts. Mark transactions as reconciled once you've matched them to your bank statement.
  4. Track bills and invoices — Record supplier bills under Accounting → Bills and rent invoices under Accounting → Invoices. RentFig tracks what's paid and what's outstanding.
  5. Record loans and mortgages — Add your mortgages under Accounting → Loans. RentFig splits each repayment into interest and capital automatically, keeping your P&L and Balance Sheet accurate.
  6. Run financial reports — Open Accounting → Profit & Loss, Balance Sheet, or Trial Balance to view your financials. Switch between cash and accrual basis, filter by property or portfolio, and export to PDF or Excel.
  7. File with HMRC via MTD — When you're ready to submit, go to Accounting → MTD to connect your HMRC credentials and file your Making Tax Digital return directly from RentFig.

Common Questions

Does RentFig replace my separate accounting software?

For most landlords, yes. RentFig's built-in accounting covers bank transactions, bills, invoices, loans, journals, and all the reports you need for self-assessment — and every report exports as PDF, CSV or Excel (or a one-click Year-End Pack) for your accountant.

How do I import my bank transactions?

Export a CSV from your bank's online portal and upload it under Accounting → Transactions. RentFig will detect duplicates and apply any bank rules you've set up.

Can RentFig handle VAT?

Yes. Go to Accounting → VAT to prepare your 9-box VAT return. You can also submit via MTD if your business is VAT-registered.

What is the Chart of Accounts?

The Chart of Accounts is the list of income, expense, asset, and liability categories used to classify every transaction. RentFig provides a pre-built set aligned with NRLA guidance, and you can add custom categories if needed.

Can I lock periods to prevent changes?

Yes. In Accounting Settings you can lock completed months or years so historical figures cannot be altered accidentally.

Still need help?

Try our AI help bot — it can answer most questions instantly.

If it’s still not resolved, email us at support@rentfig.co.uk