The Receipts tab is used to record payments received from a tenant. The primary reasons to record such transactions are the receipt of a rent payment or a security deposit. After selecting a tenant and if necessary property address the total value of monies received from the tenant should be entered into the RECEIPT TOTAL field. To the right of this exists the payment type drop down. This defaults to 'Tenant Payment', but three options exist:
- Tenant Payment - the funds were received from the tenant in relation to recurring charges, e.g. rent, management fees, service charges, etc., or / and one-off fees or expenses.
- Benefit Payment - the funds were received from a benefit agency in relation to recurring charges, e.g. rent, management fees, service charges, etc., or / and one-off fees or expenses.
- Security Deposit - the funds were received solely in relation to the security deposit associated with the tenancy.
In the case of Tenant or Benefit Payments the funds specified in the Receipt Total box will be automatically allocated to the recurring charge types based on the current charge schedule of the associated tenancy. The user can however redistribute these funds as necessary, or allocate to any outstanding fees or expenses.
Fees or expenses which have yet to be settled by the tenant will be listed in the bottom right of the screen. The funds detailed in the Receipt Total box can be used to pay the fees / expenses, either partially or in full. To settle in full click on the 'Pay in Full' button; to partially settle, enter the appropriate value alongside each fee and then click on the 'Sum Values' button.
Before submission the following transaction details must be completed:
- Bank Account (select from the drop down list)
- Date (will default to current date)
The following optional fields may also be recorded:
- Reference - This field can be used to record a lodgement slip number should a cash payment have been received from the tenant
- Description - Any meaningful text can be entered in this box
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