The tenancy is up and running, and rent is being applied. The next task is typically to record a rent payment from the tenant.
You can record a rent receipt via different paths, depending on which view you are in. You may be viewing the tenancy, the tenant, or even the property, but in each case there will be a key action on the right-hand menu labelled Record Receipt. You can also record a receipt from a tenant via Accounting > Tenant Receipts in the main menu at any time.
- Go to the tenant overview screen (or property, or tenancy overview).
- Click Record Receipt from the key actions on the right-hand side.
- Choose which type of payment, or in this case leave the default "Tenant to Agency".
- Select which bank account the money is being lodged to, or leave the default Client Account.
- Specify the amount of money being received.
- This will automatically be allocated to rent, oldest first, although this can be changed if required.
- Click Save.
When the receipt has been recorded the receipt form will be redisplayed to allow further receipts if required, as this is a common workflow when agents are recording payments in bulk. A link is also displayed at the top of the form to print off a receipt for the money received, if required.
A management fee is generally applied when a payment is received from the tenant, depending on your account configuration. By default your account will have been set up to apply a fee equating to 10% of the amount of rent collected. This can be customised via the module configuration area.
At this stage the appropriate management fee (10% of the rent collected in this case) will be applied to this property, and therefore to the landlord. In the next step we will look at the landlord's financial statement and make a payment of monies due to him.