Rules for Keeping Out of Trouble     XXXX


The following rules are really suggestions based on experience and gleaned from solving users' problems and solution users have devised themselves.  The system does not put you in a straight jacket and situations will always arise where any rule has to be broken.  So these rules or suggestions are provided to assist you from making mistakes.

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use of receipts and payments
reversing entries
As a general rule it is better to reverse a bad transaction rather than deleting it.    XXXX   ????   >>>  See Transaction Reversals
reverse the complete transaction and reenter it. 

Backing up

Use the facilities in the system do have out of system recording letters etc

Full bond
Bond returned from bond centre 

Synchronise Rent day with pay day

Memos on transactions

Receipt allocation

Overdrawn landlords

Read messages

  • An invoice takes money from a landlord account and puts it in a supplier account immediately it is entered.  This stops inadvertently paying out a landlord the full balance and not being able to pay the supplier.
  • A debt incurred by the tenant can not be paid from a tenant account.  See Concept 1 in the Accounting Primer topic.  Therefore all property related debts for which the tenant is responsible must be paid from a landlord account and the landlord reimbursed by the tenant.
  • Reimbursement is achieved by charging the tenant with a Tenant Debt which is recorded in their account.  When that debt is paid by the tenant it is receipted into the system the same way as any other money and allocated to the receipt entry Debt field.
  • Enter invoices as soon as they have been received and approved.
  • In general do not enter invoices which are in dispute but enter a landlord Hold Amount on the landlord account if you wish to retain funds until the dispute is resolved.
    If you wish to pay the supplier only part of the invoice enter the full invoice value to take the money out of the landlord account and enter a supplier Hold Amount on the supplier
  • Only pay suppliers from this screen or in a Generate Payments run nowhere else.
  • Specifically do not pay suppliers using a manual landlord payment.
  • Do not set up a tenant as a supplier to reimburse them for expenses incurred on a property.  Reimburse them by making a payment from the landlord's account with the tenant as payee.  As with all rules there is the odd exception.  See Tenant Payments.

    Reconciliation rules

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