When you start to use the new system having already been in business for some time, and most likely having used another accounting system, it's very likely that one or more tenants may have credit balances due to overpayments made on their account prior to your new system start date.
You will need to reflect this credit or overpayment balance on the client account, associated with this tenant's ledger.
- Go to the tenant overview.
- Click Financial > List Credits.
- Click the Add Credit button.
- Enter details of the credit balance, including the date the original payment was made (or the date before your new start date, if you are unsure of the exact date), and classify this overpayment as a Balance Adjustment - Miscellaneous Credit.
- Click Save.
This credit is now available to allocate to rent or charges, or to refund if necessary. It will also be reflected in your opening balances.