Overview
A charge is a lease transaction recording that a tenant owes you money. Charges are associated with revenue accounts, allowing the associated lease payments to record revenue to the correct account in your chart of accounts for reporting purposes. For example, paid rent charges show rent revenue on the profit and loss report.
Note that you can set up recurring rent and other recurring charges on a lease. Then you don't have to manually create these charges when they occur. These instructions show you how to post one-time charges.
The Steps
The first step to posting a charge on a lease is to click Leasing on the main menu, and then click Active Leases
Find the lease you want to post a charge for, and click on it. You can either sort the list by the various columns and filters or use the Search Leases search bar.
Click on the Transactions tab and then the Post Charge button.
Enter the relevant information for:
Account: choose the revenue account for the charge.
Description: enter an optional explanation for the charge. What you enter here is what the tenant will see on their lease ledger in the tenant portal. If you leave it blank, the tenant will just see the word “Charge.”
Amount: enter the amount for the charge.
Due Date: change the due date for the charge if needed.
Add Line Item: use this link to add additional charge items if needed. You could also create separate charges for each line item.
Add memo: add an optional note for your reference when reviewing the charge later. What you enter here you will be shown in the “Memo” column in relevant reports.
Add any relevant files (optional) by dragging the file into the window or using the Click Here link to upload. You also have the ability to Share files with the tenants if you click the box. This is a good way to share files like receipts or documents.
Click Save to finish.
Good work! You can review charges on the Transactions tab of your leases.
Tip: Charges to lease are normally just Liability and Revenue accounts by default. If you want to charge Expenses to the tenant, you'll need to enable that in the Chart of Accounts. For steps on how to do this, read the article, Why am I missing account categories when trying to post a charge to a lease? |