Accounting
The 10-Minute Monthly Money Check
Ten minutes a month keeps a rental portfolio’s books straight — and because your rent, expenses, tenancies and certificates already live in RentFig, the numbers are already there. Here’s the routine.
Last updated: July 2026
The routine
1. Reconcile the rent (≈3 min)
Import or review your bank payments and match them to invoices. Automation rules auto-assign recurring rent to the right tenancy — you just review and confirm. Anything unmatched is flagged so nothing goes missing.
2. Log the month's expenses (≈3 min)
Add costs against each property — repairs, insurance, fees, ground rent. The fastest way is to WhatsApp a photo of the receipt: RentFig reads the amount and files it against the matching bank transaction automatically.
Note: That's the same receipt-photo trick from week one — it doubles as your expense log.
3. Run the profit & loss (≈2 min)
Open Accounting → Profit & Loss and pick the period. You get income, expenses and the bottom line per property or across the portfolio, with every cost categorised to the HMRC property fields.
4. Glance at the reports (≈1 min)
A quick look at revenue (invoiced vs paid), occupancy, and compliance status surfaces anything drifting — an unpaid run of rent, a gap in a tenancy, a certificate slipping out of date.
5. Statements & the assistant (≈1 min)
Email any tenant a statement, or ask for it on WhatsApp. And if you'd rather just ask, AI Mode answers questions like 'what's my profit and loss this year?' straight from your own data.
Note: Come Self Assessment time, sync to QuickFile in a click so your accountant has clean books — RentFig keeps the figures HMRC-ready, but doesn't file your return for you.
Frequently asked questions
How do I track rental income and expenses?
RentFig records rent from your invoices and payments and lets you log expenses against each property. You can match bank payments to invoices (with automation rules for recurring rent) and snap receipt photos that file themselves — so income and expenses stay current without a spreadsheet.
Can I see a profit and loss per property?
Yes. Accounting → Profit & Loss runs for any period, for a single property or the whole portfolio, with every cost categorised to the HMRC property fields so the numbers are ready to use.
Can I generate a tenant statement?
Yes. A tenant statement — invoices, payments and any credit notes — can be produced in seconds and emailed to the tenant, or requested on WhatsApp so it lands in your chat as a PDF.
Does RentFig do my tax return?
No — RentFig keeps your figures HMRC-ready (categorised to the HMRC property fields) and syncs with QuickFile, so you or your accountant have clean numbers for Self Assessment. It doesn't file your tax return or submit to HMRC for you. See our MTD ITSA guide for how the tax rules are changing.
Does it sync with accounting software?
Yes. RentFig connects to QuickFile in a few clicks and syncs invoices and payments, so your accountant sees up-to-date books without manual re-entry.
Disclaimer:RentFig keeps HMRC-ready figures for your accountant or Self Assessment; it does not file your tax return or submit to HMRC. This is general information, not tax or legal advice — check current gov.uk guidance.