Accounting Tab: Receivables Page Explained

THE RECEIVABLE PAGE - Brief Overview - the receivables page automatically generates and itemizes the amounts of money owed by tenants (and all others); a new receivable is generated each time a new payments becomes due. The page organizes the payments owed by tenant and street address, so you may view the total payments owed per tenant or per unit(residence). After recording a payment, Rentpost will record the rental revenue in your general ledger, generate a journal entry and post the payment to the Property Owner's balance. If you are a property manager, the recorded amount will become viewable in the owner statement (Profit/Loss statement), and the amount owed to you in Management Fees will be deducted from the revenue recorded. The amounts owed to You (property manager) and to the property owner will be totaled and remain pending in the "Property Management" page (under the "Accounting" tab). From the property management page you can generate and record payments to yourself (for the Mgmt Fee) and to the property owners (as distribution of the rental revenue). 

What if a rental payment is made online? Rentpost will automatically record the payment on your books and send you notification of the online payment; you can review all recorded receivables and online transactions on the "Receivable>Receipts" page. 

What can you do on this page? See further down the page for more details on how to perform these tasks

• Record the collection of rental payments from tenants who do not pay online (payments made online will automatically be recorded)
• Record payments of other charges you've assed to tenants
• Edit/Adjust the payments owed by the tenants, before recording the payment
• After the payment is recorded, a receipt of the payment will appear in the "Receivables>Receipts" page - Also, the history of the payment will appear in the tenant's profile (view the tenant profile by clicking on the tenant's name)

Overview Screenshot of Receivables Page: The screen shot below reviews the page and gives explanations of some of the key items on the page (zoom in on your browser if the picture is too small to read the text)

Explanations:

Finding the receivable you are looking for

• Search Bar - use the receivables search bar to locate a receivable by the payor's name or street address

• Print or Export your list of receivables - if you would like to view a hard copy of the info, view the screenshot below too see what the list of receivables owed looks like when the "print" or "export" icon is clicked (a file will download to your computer which will appear in the same format as the following screen shot).

Recording or Adjust Rent Receivable

• View or Adjust Amount Owed - after you've found the receivable you would like to record a payment for, double check the amount, and if something doesn't look right, click the "view details" icon to view or adjust itemized payments owed by the tenant - see the screen shot below

•  Adjust the Amount Owed - after you've clicked on the "view details" icon, a new box will open, displaying an itemized, detailed list of the payments owed to you by a particular tenant; you may adjust or delete these amounts; also, you may add an additional payments owed... view screen shot below to the "view details" box