Tenant Receipt For Rent
This is the most frequently used item of the system. It allows the receipt of rent and any other collections from tenants.
Confirm that the correct tenant and property are displayed.
Receipt funds for Rent
Type the amount received in the Total Received box then TAB through to Rent field and enter the amount being received as rent.
When you tab through the rent field, the paid to date is automatically calculated. Normally, the amount will be an even rent amount and the paid to date will be advanced by the rent period (week, month etc).
Tab through and select type of payment click OK and process the receipt then print receipt if required.
Receipt extra funds for Rent
Type the actual amount received in the Total Received box then TAB through to Rent if extra funds are receipted a drop down box will appear with two options either Treat Extra Funds as a Rent Credit or MODIFY.
Always select a Rent Credit do not MODIFY unless a tenant is vacating or is a monthly rent cycle and they have occupied during the month.
Treat Extra Funds as Rent Credit- this option will then adjust the tenant's paid to date by however many days paid and create a rent credit. This rent credit will appear on the tenant details screen. The funds still go to the Lessor. Once the tenant pays the balance of rent due the paid to dates will automatically be updated.
Modify should only be used when a tenant is vacating or if the tenant is a monthly rent cycle however have occupied the property through the month and you need to adjust the paid 2 dates to the end of the month.
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