Overview
What are unapplied lease payments? Unapplied lease payments refer to payments made by a tenant (the person or entity leasing an asset) to the property manager that has not been applied to any lease charge. In the context of leases, unapplied payments typically occur when the property manager receives payments from the tenant in advance or if there is an overpayment. These will appear as a credit on the lease transactions until a charge is posted and the payment is applied to that charge.
How can you view all your Unapplied Lease Payments? Follow the steps below.
The Steps
To view unapplied lease payments, click Reports on the main menu and then click the Cash Flow Statement under the Business Overview section.
If you have any Unapplied Lease Payments, they will appear as a line item under Operating Activities in the Net Income section.
Click the dollar amount under the Totals column for Unapplied Lease Payments and this will take you to a Transaction Details Report that lists all your current Unapplied Lease Payments.
Clicking on any of the payments on this list will show you the details of that payment.
That's it. Once a corresponding charge is posted, the Unapplied Lease Payment will be allocated to that charge.
Tip: To remove and fix unapplied lease payments (unapplied rent payments), allocate the payment to an open charge, post a charge to the lease where those unapplied lease payments will be applied if there aren't any, or refund the extra payment to the tenant.