When you begin using Elevate, some of your properties may have rent income which is held in the client account from before the start or conversion date.
In order to pay this out, and indeed to ensure that the client account has an accurate balance and in order to provide a full breakdown of the client account balance, you will need to add details of rent income held on account on your conversion date.
- Go to the property in question, and click Financial > List Credits.
- On the credits page, click Add Credit.
- Choose the (default) credit type Balance Adjustment - Rent or Other Income.
- Enter the date that the income was actually received into the account, or if that is not readily available you can simply specify the date before your start date.
- Enter a description which accurately describes the nature of the income and where it came from.
- Click Save to add the credit to the opening balance.