Tenant Receipt

The Tenant Receipt function is used when a tenant makes a payment. The payment can be:

• for current outstanding charges - see Current Charges

• for charges you haven’t had a chance to post yet - see New Charges

• an advance payment for future charges - see New Charges

• an overpayment, or a payment for open credits - see Current Charges

or a combination of any of the above.

Normally, selecting the tenant making payment, verifying the amount, and posting is all that is necessary. Abnormal situations - payment of an amount different than owed; deposit into a bank account other than the default; advance payment or payment for an item not yet charged; currency received other than check - require more interaction to adjust the screen entries so they properly reflect the situation. See Filling in the Receipt Form.

If the payment is normal, posting will result in the charges being paid off, the tenant and owner ledgers being updated, and the payment credited to the bank account. If set up to take a management fee at the time of payment, management fees will be automatically deducted from the owner and credited to the management group ledger.

The payment amount defaults to the sum of the unpaid charges less any starting open credits. The Current Charges are listed in date sequence. The payment distribution is by payment priority (per the Accounts, Charge Table). The payment distribution can be altered to match the intended use of the receipt amount.

When the payment includes an amount not yet charged or is an advance payment for a scheduled charge, the New Charge function can be used by clicking on the New Charges folder. Overpayments are added to the open credits account so they can be applied to future charges.

After selecting the tenant, a summary of current charges owed, starting open credits, current charges paid, new charges paid, and final open credits is displayed and updated as you proceed with the details of how the money received is going to be distributed. Normally final open credits should be zero or blank prior to posting. A warning screen will display if you try to post with an amount in open credits. Proceed if you want to record an open credit amount.

Line Item

Clicking on the line item will display additional information, including the ledger which will be credited when the charge is paid and a Disputed checkbox. If you mark the charge disputed it will not be considered for payment. There is also an Edit button. Clicking it will bring up an Edit Charge screen which will allow you to edit the charge amount.

Print Receipt

A receipt can be printed prior to posting by clicking the Print button. A print dialog will display that gives you a choice of printers and how many copies to print. It will print two copies on a standard 8½ by 11 page. One copy is marked "Payer Copy" and the other is marked "File Copy".

You can choose to have both copies print on one page by going to Setup>Database Settings and marking the checkbox "One Receipt Per Page". You can also choose to not print the File Copy in Setup>Database Settings.

To reprint a receipt, go to AR, Tenant History. On the Receipts tab, highlight the receipt and click <Edit>. There is Print Receipt button there. The receipt printed will be identified as a reprint and will not show balance information.

After posting you must go to Deposit Receipts to post the receipt to the bank account as part of a deposit.

Filling in the Receipt Form

Date

Once you set the date it will stay until you change it or exit the receipts function. This facilitates entering receipts for a deposit slip received and deposited on a date prior to posting.

Receipt #

A unique, system generated number is created for every receipt. The number consists of a year code, month, day and a four character string generated to provide uniqueness. You can change this number if you wish.

Currency

Mark the currency checkbox if the payment is in cash or money order.

Selecting the Tenant

Unit or Tenant can be used to identify the payer. Selecting from one list will pull in the other information. These fields are all combination boxes and you can select from either the short or long description of the Record ID.

If the tenant selected is from a unit or ledger that is inactive, an information screen will display to let you know.

To select the same tenant after clicking the New button, click on the tenant label.

By clicking on the folder button you can view the profile and update information, add comments or a note. You can also add a new tenant by clicking the folder button with the tenant field blank.

Bank

Choose the bank where the receipt will be deposited. The default checking account will display when you choose the tenant. If the receipt is a security deposit being put directly into the escrow bank account, choose that bank.

Payment

The payment amount defaults to the charges outstanding (less any open credits). Change it if the amount actually received is different. Post each check as a separate receipt. Post cash and check as separate receipts.

Apply Open Credits

If there are open credits there will be an X in the Apply Open Credits checkbox. Unmark the box if you do not want to use any existing open credits.

Distribute

Marking this checkbox will distribute the payment among the charges; unmark the checkbox to clear the amount applied to each outstanding charge. Distribution is based on priority first (assigned in Setup, Accounts, Charge Codes) and date second.

Prorate

Marking this checkbox will prorate the amount between the charges listed. This is helpful when there is a tax on rent that must be collected on the amount of rent paid. (If you wish to always prorate, go to <<Setup, Processing Defaults>>, tab 5 and type "/receiptprorate" in the Customized Programming Options box.

Discount

This field contains the early payment discount amount which will be applied. The system will calculate it based on all charges paid but it can be changed. Marking the checkbox in Setup, Environment Options, Dates will cause the tenant name followed by the text "Check #" to fill in the memo field when the tenant is selected.

Memo

The check number, other method of payment, or other pertinent information may be entered. The memo and the tenant name appears on tenant statements, ledger history, ledger audit details, the deposit slip and the deposit register report. Marking the checkbox Use Memo for Check Number on Receipts in <<Setup, Environment Options>>, Dates tab, will cause the text "Check #" to be copied into the memo field when a tenant is selected.

Memo Shortcuts:

•	Double clicking on the Memo label will either: 1) put the text "Check #" into the memo field if the tenant is not a "responsible tenant" 2) put the text "Tenant Name and Check #" into the memo field if the tenant is "responsible" to another tenant.
•	Double clicking in the Memo field will put the text "Check #" into the memo field.
•	Double clicking in the Comment field will put the Unit long description in the memo field.
•	Double clicking on the Comment label will insert the month of the earliest charge and the text "Check #".

•	Double clicking on the Payment label will put the month and year of the oldest charge in the memo field.

Comment

A freeform field for comments about the transaction which can be used to explain any abnormal circumstances about the receipt or what it paid off. This is for internal use only.

Double clicking in this field will put the unit address in the memo field.

Current Charges tab

After selecting the tenant making payment, all outstanding charges are listed in date sequence. The payment amount is distributed based on the payoff priority per Setup, Charge Codes. Disputed charges are skipped.

You can change the Apply to Charge amount by clicking the charge line and entering the amount to apply to that charge. Clearing the Distribute box will clear the amount applied to every outstanding charge.

Overpayment

When the tenant pays more than the outstanding charges and you do not know the specific charge code to use to apply the overpayment, you can let it post to open credits.

Available open credits can be applied to charges during a future receipt posting.

Note: If you know what the overpayment is for, you can either create the charge(s) to cover the overpayment, or post an advance payment. Overpayment of rent and recurring charges can be posted as an advance payment so that future automatic charges are satisfied by the advance payment.

Underpayment

If the tenant pays less than the full amount owed, you must enter the actual amount paid and verify that the amounts applied to each open charge is how you want it applied. If it isn’t, make the appropriate changes to distribute the amount received.

New Charges tab

When a tenant makes a payment for a charge that hasn’t yet been posted to his account (not a scheduled charge), you can enter the new charge during the receipt process. After selecting the tenant making payment, click on the New Charges tab to bring up the New Charges screen. Enter the charge and the amount. If the Management Group is being paid (rather than the owner) mark that checkbox.

An alternative (recommended method) is to click the Charge Tenant speedbutton, then enter and post the charge to add a charge to the Current Charges tab. You must use this method if the charge is more than the pay off.

Advance Payments

Advance payments (prepayments) of scheduled charges can be recorded by marking the Advance Payment Credits checkbox. Advance payment credits are reduced when the charge is posted. An example of an advance payment is paying rent before the charges are posted. When the rent is charged, it offsets the prepayment.

Posting an advance payment of rent immediately puts the money in the owner’s ledger as of the posting date and credits the Management Group with the management fee (if the management fee is taken on collected rent).

Open Credits

An alternative to an advance payment is to let the payment become open credits. Then when the charge is posted the open credits will be used. The difference between an advance payments and an open credit is the timing of making the payments available to the owner. An advance payment is available immediately. An open credit is delayed until the charge is posted.

Summary Fields

The summary fields are protected and indicate the status of the current transaction prior to posting.

Current Charges Owed - the sum of all current charges that are unpaid.

Starting Open Credits - the amount of unused credits.

Current Charges Paid - the sum of the amount applied to current charges

Discounts Given - any discount earned early payment of rent.

New Charges Paid - the sum of the amounts applied to new charges (seen on the New Charges tab).

Final Open Credits - indicates the amount of open credits remaining. If positive, there are remaining credits. If negative more open credits are being applied than are available. Stop and review what is being applied to charges. This number should always be 0 or positive.