Overview

If you completed the management fee creation process for the month and later realize you entered incorrect rent payments or left out some rent payments, don't worry, you can fix it!

If all you need to do is add management fees for additional rent payments, you can just create an expense for the additional management fee. If you use the accrual instead of cash accounting method and the rent charge was recorded correctly, you don't have to do anything because management fees calculate based on the rent charge, not the payment.

However, if you realize you used incorrect payment amounts to create the management fees, you will need to delete the management fee bills and start over. The steps below walk you through this process.

The Steps

I forgot to enter all the lease transactions before I created management fees. How do I fix this?

Step 1

If you created management fees with incomplete data, you will need to delete the bills and redo the management fee process.

Make sure all lease transactions are accurate before redoing your management fees!

Step 2

There are multiple ways to find and delete bills and bill payments, but we recommend going to Reports and choosing the Transactions List report in the Accounting section.

Here you can filter the transactions by date, the type of transaction, and vendor to help you narrow down your transaction list to find the bills you need to delete. Since your property management company is the vendor, filtering by the correct time period and yourself as the vendor will likely suffice.

Step 3

If you also paid the bills, you will need to find and delete the Bill Payments before deleting the Bills.

Delete these by clicking on each line item in the report and choosing Delete in the lower left corner of the screen.

Step 4

After you’ve deleted the bill payments and bills, you will need to redo the Create and Pay Management Fee Bills process.

However, on Step 2, you will need to make sure the correct date range is selected, and change the Billed Properties dropdown to Include Already Billed.

This way you can see the properties which previously had management fees created for them, and you can select the properties you need to recreate management fees for before continuing the process.


Did this answer your question?