Journal Funds V/O to Lessor
It can sometimes be necessary to transfer funds between the Variable Outgoing account and the Lessor account.
Some reasons for this maybe:
|•||The lessor is required to pay a portion of variable outgoings for vacant properties.|
|•||There are insufficient funds in the V/O account to pay urgent expenses.|
|•||The lessor must be reimbursed for some expenses.|
Journal funds from V/O to Lessor example
This Lessor has a balance of $740.00 & the V/O account balance is $2,204.55.
Journal Details select Debit from the V/O account.
Journal amount here is $250 and will be taken from the V/O and will increase the Lessor account.
Select the appropriate BOMA code.
Select the appropriate Trust Account Ledger (usually Lessor Funds).
Click on the Post button.
Journals cannot be reversed. If an error has been made, then enter another identical journal with the same amount in negative.
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