Landlord Fee


Location... Landlords main screen > Transactions > Add (plus sign) > Fee

Use this screen to:-
  • create "fee only" transactions which debit or credit a landlord's account
  • to reimburse over-charged fees, or recover missed fees, on existing transactions regardless of the period the adjustment relates to
  • add a charge to the landlord's account which involves no third party such as a charge for retrieving archived statement details
  • assign the fee to a property if the property is to carry the expense

    Skip to the description of the screen elements

  • Fees entered with this screen simply moves money between the landlord account and the Management Fees and GST control accounts in the current period and thus does not upset the bank reconciliation, but may affect balances or reports where fees are involved.
  • This provides a simple way to adjust the fees charged on a landlords account, particularly when the adjustment relates to a previous period or has some complexity.  Perhaps you agreed a set figure with the landlord, which makes adjusting any existing transaction difficult.  
    In the current period use the [Adjust Fees] button to alter the fees charged on a receipt.  If the adjustment is for fees charged on an invoice edit the invoice line item.
  • Enter a negative value to return fees to a landlord.
  • Make adequate entries in the Text and Memo fields.
  • This could also be used to clear a balance in a defunct account by transferring money between the landlord account and the Management Fees and GST control accounts.

    The Admin menu > Generate Standing Charges program also creates a fee transaction in all applicable landlord accounts.

    Description of the Landlord Fee screen

    Refer to the Glossary for information about the screen fields not mentioned below.

    Allows the fee being entered to be assigned to a property or directly to the landlord.

    Fee and GST fields
    Enter either the fee including GST or excluding GST in the relative field and the system will automatically calculate the GST component.

    When fees charged on a receipt are to be amended they can not be changed in past periods once the receipt has been presented.  In my view that should never be done in any case because the change will ripple through the landlord's account and although the final effect will be correct any system reports, including the landlord statement etc ,will be different if  they are reprinted.

    Fees can be changed in the current period by using the [Adjust Fees] button even when the receipt has been presented.  It may affect reports etc where fees are involved but it does not affect any reconciliation because the overall transaction amount is unchanged.  Money is simple transferred between the landlord's account and the management fee and GST accounts.  It could, however, overdraw the landlord account.

    To adjust fees charged in past periods the best way is to enter a Fee transaction making adequate entries in the Text and Memo fields.  Where you are refunding fees enter a negative value which transfers money from the  Fees and GST control accounts into the landlord's account.