{"id":74,"date":"2024-09-23T21:57:38","date_gmt":"2024-09-23T21:57:38","guid":{"rendered":"https:\/\/www.landlordmax.com\/knowledgeBase\/?post_type=ht_kb&#038;p=74"},"modified":"2024-10-25T17:10:11","modified_gmt":"2024-10-25T17:10:11","slug":"partial-payments","status":"publish","type":"ht_kb","link":"https:\/\/www.landlordmax.com\/knowledgeBase\/article\/partial-payments\/","title":{"rendered":"Partial Payments"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">What is a Partial Payment?<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"LandlordMax - Partial Payments Tutorials\" width=\"1200\" height=\"900\" src=\"https:\/\/www.youtube.com\/embed\/1DU3DypQuwA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><strong>Partial Payments are for when you want to apply a partial payment to a transaction.<\/strong>\u00a0A classic example of a\u00a0Partial Payment\u00a0is when a\u00a0Tenant\u00a0only pays a portion of their rent, say $200 of a $1000 rent. In this case the $200 is considered a\u00a0Partial Payment. You can apply as many\u00a0Partial Payments\u00a0to a transaction as you want.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Apply a Partial Payment<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"519\" src=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59.png\" alt=\"\" class=\"wp-image-497\" srcset=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59.png 650w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59-300x240.png 300w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59-50x40.png 50w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59-60x48.png 60w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-59-100x80.png 100w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/figure>\n\n\n\n<p>Partial Payments\u00a0can be applied in both the main\u00a0<strong>Accounting Entries<\/strong>\u00a0and\u00a0<strong>Suggested Accounting Entries<\/strong>\u00a0sections of the software. The process is almost identical in both but for the purposes of this section we will mainly focus on the main Accounting Entries table.<\/p>\n\n\n\n<p>To apply a\u00a0Partial Payment\u00a0select the\u00a0Accounting Entry and then either click on the Partial Payment in the right menu as shown in the above screenshot on the right side. Alternatively you can right click on the entry and use the Partial Payment option in the popup menu as shown on the left side of the screenshot.<\/p>\n\n\n\n<p><strong>** IMPORTANT:<\/strong>\u00a0<em>You can only apply a\u00a0Partial Payment\u00a0to an\u00a0Accounting Entry\u00a0that is not yet paid. That is to say an\u00a0Accounting Entry\u00a0where the\u00a0Date Paid\u00a0and\u00a0Amount Paid\u00a0are empty.<\/em> <em>This does not apply to Suggested Accounting Entries.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"784\" src=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62.png\" alt=\"\" class=\"wp-image-501\" srcset=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62.png 650w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62-249x300.png 249w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62-41x50.png 41w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62-50x60.png 50w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-62-83x100.png 83w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/figure>\n\n\n\n<p>Since this is a\u00a0Partial Payment\u00a0the software only shows you the fields that should be applicable to the\u00a0Partial Payment in a popup dialog rather than going to the form view. So for example the\u00a0Tenant\u00a0field is not displayed because it should be the same for the\u00a0Partial Payment. If you need to edit the\u00a0Tenant\u00a0or other such fields then it&#8217;s really not a\u00a0Partial Payment\u00a0any more and you would be better off editing the\u00a0Accounting Entry, or creating a new one, rather than applying a\u00a0Partial Payment.<\/p>\n\n\n\n<p><strong>** NOTE:<\/strong>\u00a0<em>You don&#8217;t need to worry about editing the\u00a0Amount Due\u00a0as the software will automatically make all the appropriate calculations and adjust the\u00a0Amount Due\u00a0value when you click on the\u00a0Save\u00a0button. It&#8217;s more to let you know what the total amount due is.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"652\" height=\"88\" src=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63.png\" alt=\"\" class=\"wp-image-504\" srcset=\"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63.png 652w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63-300x40.png 300w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63-50x7.png 50w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63-60x8.png 60w, https:\/\/www.landlordmax.com\/knowledgeBase\/wp-content\/uploads\/2024\/09\/image-63-100x13.png 100w\" sizes=\"auto, (max-width: 652px) 100vw, 652px\" \/><\/figure>\n\n\n\n<p>After you click on the\u00a0Save\u00a0button you will find that the\u00a0Accounting Entry\u00a0has been split into two\u00a0Accounting Entries. One for the Partial Payment made and for the remainder of due. In <\/p>\n\n\n\n<p>Using the example above in the screenshots the initial rent due was for $750. The tenant paid $300 and so $450 still remains outstanding. If you look at the columns the Amount Due column totals up to $750, the Amount Paid column totals up to $300 paid, and the Balance column totals up to $450, exactly what is remaining due and outstanding.<\/p>\n\n\n\n<p>When it comes to\u00a0Suggested Accounting Entries\u00a0it&#8217;s a little different in that instead of two\u00a0Accounting Entries\u00a0the software will instead edit the existing\u00a0Suggested Accounting Entry\u00a0and create a new\u00a0Accounting Entry. In other words if you applied the $300 payment to a\u00a0Suggested Accounting Entry\u00a0you would then have the same\u00a0Accounting Entry\u00a0for the $300 and the remaining outstanding $450 would remain in the Suggested Accounting Entry. For more details on this we&#8217;ll refer you to the section <a href=\"https:\/\/www.landlordmax.com\/knowledgeBase\/article\/creating-a-new-scheduled-accounting-entry\/#partial-payment\">on Partial Payments in the Scheduled Accounting Entries section of the user manual<\/a>.<\/p>\n\n\n\n<p><strong>** TIP:<\/strong>\u00a0<em>You can apply as many\u00a0Partial Payments\u00a0as you like, there are no limits. So for example if a\u00a0Tenant\u00a0has a rent due for $1000 they can pay in $100 installments and you can just click on the Partial Payment button each time to apply the $100 partial rent payment.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a Partial Payment? Partial Payments are for when you want to apply a partial payment to a transaction.\u00a0A classic example of a\u00a0Partial Payment\u00a0is when a\u00a0Tenant\u00a0only pays a portion of their rent, say $200 of a $1000 rent. In this case the $200 is considered a\u00a0Partial Payment. You can&#8230;<\/p>\n","protected":false},"author":1,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[18],"ht-kb-tag":[23,27,50,48,49,30],"class_list":["post-74","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-accounting","ht_kb_tag-accounting","ht_kb_tag-accounting-entries","ht_kb_tag-late-rent","ht_kb_tag-partial-payment","ht_kb_tag-payment","ht_kb_tag-rent"],"_links":{"self":[{"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb\/74","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/comments?post=74"}],"version-history":[{"count":8,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb\/74\/revisions"}],"predecessor-version":[{"id":679,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb\/74\/revisions\/679"}],"wp:attachment":[{"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/media?parent=74"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb-category?post=74"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/www.landlordmax.com\/knowledgeBase\/wp-json\/wp\/v2\/ht-kb-tag?post=74"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}