Unallocated Funds - Tenancies

There may be occasions when payments are received from Tenants however at the time there may not be any outstanding transactions.  It can be easy to miss allocating these payments particularly if for rent that has yet to be charged for example.  

As you can see in the window below, payment has been received from the tenants which has been noted as initial funds to hold the property, subsequently a sales invoice has been charged. There is no balance outstanding however the invoice is listed as outstanding and would therefore appear on the Outstanding Transactions Report and the Rent Arrears report. This is because the received funds have not been allocated to the outstanding transaction. 

You are able to review this payments on accounts by using the Unallocated Funds Tenancies report.

To see a list at any time of tenancies with unallocated funds, hover over Finance from the top menu and select ‘Unallocated Funds Tenancies’.

The following screen will open:

1. You can click on the Tenants name to open the tenancy record
2. You click on the other part of the row and the ‘Receive Payment’ page will open.

By clicking on the row and therefore opening the "Receive Payment" window you are able to allocated the funds to any outstanding transactions. If you are using the window to allocate the funds currently unallocated as opposed to receive further payments, you do not need to complete the upper part of the window apart from the date:

So in this example the tenants have their deposit demand outstanding as well as a rent charge. 

1. The payment date will populate with current date.  This date will be used on the statements as the date that the outstanding transaction was paid and therefore you may need to amend it accordingly.  (This date will also be logged against the invoice in the Review Invoices/Credit Note report.)
2. Select the outstanding transactions you would like to mark as received, this will allocate the funds. 
3. Pay attention to the unallocated funds amount and ensure it equals the correct amount (for example if you believe you are marking as received the exact amount outstanding, the unallocated balance should now be zero).
4. Click the 'Save' icon to save the allocation and then close the window. 

The transactions originally listed as Outstanding will now be listed as Paid.