See Also Transferring Ownership of a Unit
How to PDF document #242 Tenant Moves to New Unit
Same Ledger (Owner or Property)
If a tenant moves to a new unit within the same ledger, it is a simple matter of changing the unit in the tenant profile. Click on the <<Move Tenant to New Unit>> button and select the new unit from the Find List.
Different Ledger (Owner or Property)
If the unit is owned by a different ledger, several things come into play: the security deposit, unpaid charges owed by the tenant, and rent already paid which may be due to the new ledger.
The first step is to set up a new tenant profile (tenant 2). Assign the new tenant profile to the unit being moved into.
Unpaid Charges
If any unpaid charges are due to the new ledger, in AR, Tenant History, void, edit or reverse the charges against tenant 1 and post those charges against tenant 2 using AR, Charge Tenant.
Payments
If charges were already paid by tenant 1 that resulted in income to ledger 1 that should go to ledger 2, do a journal transfer between the two ledgers.
Example: $400 rent credited to ledger 1 should have been credited to ledger 2. Assume that the $400 rent resulted in a $32 management fee. Enter the following line items in GL, Journal Transfer:
Ledger 2
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Rent
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400
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Ledger 1
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Rent
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-400
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Ledger 2
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MF Expense
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32
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Ledger 1
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MF Expense
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-32
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Security Deposit
Refund the security deposit to tenant 1 using AR, Tenant Moveout. Post a refund check payable to the management company. Go to AR, Security Deposit Receipt and receive and deposit the money as a new deposit to tenant 2.
As an alternative to writing a check, you can post two journal vouchers to transfer the security deposit from tenant 1 in unit 1 owned by ledger 1 to tenant 2 in unit 2 owned by ledger 2.
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Release deposit for tenant 1 in AR, Release Deposit. This puts the security deposit in open credits.
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Go to AR, Transfer Open Credits and move the open credits from tenant 1 to tenant 2.
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Go to AR, Tenant Receipt. Pull up tenant 2. On the New Charges tab, enter the security deposit. Use the open credits to pay off the charge. Be sure there is no money actually being received - only open credits being applied.
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Go to GL, Journal Voucher. Post two bank to bank transfers (or two journal vouchers) to move the money between the two ledger’s cash and escrow bank accounts. (If you keep your security deposit money in the same bank account as the owner’s money, or if the owner holds the security deposit, skip this step.)
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Bank to Bank Transfers:
From bank: Checking
To bank: Escrow
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Ledger 1: old
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negative amount -$
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Ledger 2: new
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positive amount $
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This transaction will not appear in bank account history and will not show on your bank reconciliation. It is strictly within the ledgers.
or Journal Vouchers:
1st journal voucher - ledger 1
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Escrow bank account
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debit
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-$
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Cash bank account
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debit
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$
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2nd journal voucher - ledger 2
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Escrow bank account
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debit
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$
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Cash bank account
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debit
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-$
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