Most lease balances should look correct as long as charges and payments are entered correctly. Much of this is automatic with very little input from the User. However, they can be instances where a lease balance does not look correct and this could be due to several factors which can be easy to rectify.

If you see an unusually high balance due on a lease, it usually means that either a payment was not received or a payment was not recorded. You can check this viewing the Transactions tab on a lease.

From here, you can see a complete list of transactions made since the beginning of the lease. Here you can see if there are any open charges that don't have any corresponding payments associated with them. For a refresher on how to enter payments, read this article: Receiving a Payment on a Lease.

If you see an unusually high credit balance on a lease, this probably means that there might be missing charges that were not posted to the account, such as missing rent payments or security deposit charges. You can check this viewing the Transactions tab on a lease.

On the Transactions tab, you can see a complete list of transactions made since the beginning of the lease. Here you can see if there are any missing charges. You can check this by clicking on any of hte latest payments and toggling off the "Automatically Apply Payments" option to see if there are any outstanding transactions.

You would fix this by adding any missing charges and also checking the Rent tab to see if the rent schedule is still active or expired.

Issues with Security Deposits usually stem from incorrectly categorizing a security deposit charge. Security Deposits, or any deposits in general are liability accounts. This means that when you post a charge for them, they need to be to a liability account. If you charge to a revenue account instead, any payments applied to it will show up as revenue and will not be held as a deposit.

To fix missing security deposits, find the original security deposit charge and change the category to a liability account. If it is a liability account already, it could also mean that the payment received for it wasn't applied to the security deposit charge and was instead applied to another charge. You can check this by clicking on the payment and then checking if it was allocated towards the security deposit charge.

You can read up on how to reallocate payments by reading this article: Reallocate Lease Payments to Different Charges.

Sometimes runaway late fees can also cause havoc on lease balances. If the late fees settings are not set up properly, late fees can continuously keep charging even if the tenant paid their past due rent charges. Not only that, payments could be applying to other fees instead of rent charges, causing those charges to remain unpaid and late fees being applied to them.

To fix this, you'll need to go through each payment and reallocate the payment to the correct charges. You may also need to delete late fees that have charged when they shouldn't have to reduce the balance. You can use this same article to brush up on reallocating payments: Reallocate Lease Payments to Different Charges.