entering rent


Debbi | email Mar 20 2017, 07:50 PM
Please help me I have officially entered all of 2016's receipts (such as monies spent) NOW how do i enter the rent collected from each tenant ( I really think I know the answer but am just worn out).....
Your help will be greatly appreciateddddddddddd!!!!!
Stephane Grenier | email Mar 21 2017, 03:37 PM
Hi Debbi,

I personally responded to your support request therefore to avoid duplication I'll refer you to the support ticket since it contained information specific to you.

Regards,
Stephan Grenier
Founder
LandlordMax Software Inc.
http://www.LandlordMax.com
http://www.FollowSteph.com
Judith Chaffin | email May 31 2017, 12:58 PM
I was looking for the same info; your response to Debbi doesn't show. What was it?
Judi
Stephane Grenier | email Jun 1 2017, 02:13 PM
Hi Judith,

I'll ask you the same thing I asked Debbi, which is can you please expand on what you mean by entering all your receipts? I ask because do you mean the receipts from your payments you've made? If so then these should be entered in the accounting section of the software. The receipts section of the software should be viewed as the receipts you give your tenants when they pay their rents, in other words more as legal documents then accounting data. All transactions, expenses and revenues should be entered as accounting entries.

You may be interested in the following short animated videos which walk you through the process or creating recurring payments, rents, late fees, etc.. Please note that although the videos are for the previous versions the process is still the same:

http://www.landlordmax.com/releaseNotesV311/scheduledEntriesFromLease/ScheduledEntriesFromLease.html
http://www.landlordmax.com/releaseNotesV311/lateSuggestedAccountingEntries/lateSuggestedAccountingEntries.html
http://www.landlordmax.com/releaseNotesV605/AdvanceNotice2/AdvanceNotice2.htm

Receipts are basically the printed document for the transaction (accounting entry) for rents paid. I just want to make sure you're entering the correct data in the correct location.

Regards,
Stephan Grenier
Founder
LandlordMax Software Inc.
http://www.LandlordMax.com
http://www.FollowSteph.com
Tenaya | email Sep 15 2017, 06:41 PM
I was having this issue and I read your response and watched the videos. I understand how to enter payments as accounting entries. I do not understand how to make the invoices function in relation to this. I need to send out invoices monthly so that tenants are aware of what they owe. How do I make sure payments made as accounting entries are reflected in the invoices so that it only shows what they currently owe? There must be a way to do this without manually updating each individual invoice each month. It seems like it would defeat the purpose of the program if there is not a way for it to calculate new amounts owed after payments are processed each month. Help, please.

Thank you.
Tenaya
Stephane Grenier | email Sep 16 2017, 06:30 PM
Hi Tenaya,

I believe the following discussion forum post (and answer) will probably clear up what you're asking: http://www.landlordmax.com/support/index.php?pg=forums.posts&id=2750 As well Step 2 of Section 4.11 includes this and further detailed information at: http://www.landlordmax.com/support/index.php?pg=kb.book&id=2

Regards,
Stephan Grenier
Founder
LandlordMax Software Inc.
http://www.LandlordMax.com
http://www.FollowSteph.com
Tenaya | email Sep 18 2017, 12:31 PM
So what you're saying is this software doesn't allow me to create monthly invoices for tenants unless I enter every payment and manually calculate a new invoice for every tenant each month. Is this correct?
Stephane Grenier | email Sep 18 2017, 01:29 PM
Hi Tenaya,

No that's not correct. The software by default will create all the invoices for you for your rents based on the Lease information you entered. It will do this by creating Scheduled Invoices, which will then be presented as Suggested Invoice which you can then accept into your main invoice table. Once in your main table you can select them all and print them all in one step.

In other words you should not normally have to enter in all the Invoices manually, they should all be automatically created for you by the software through the above mechanism.

Regards,
Stephan Grenier
Founder
LandlordMax Software Inc.
http://www.LandlordMax.com
http://www.FollowSteph.com
Tenaya | email Sep 18 2017, 04:33 PM
I understand that you can create scheduled invoices, but how do you get the invoices to correspond with payments that are or are not received during the month without changing each invoice manually?
Stephane Grenier | email Sep 18 2017, 09:19 PM
Hi Tenaya,

I apologize but I don't understand what you mean by correspond? If you mean change then please note that you should not change existing invoices as they are legal documents that you have already handed out to your tenant, and instead you should apply the missing rent to the next invoice.

To give you an example it's the same as if you get an invoice from your plumber. Once given to you the contractor should not modify the invoice if you don't pay it, they need that document if they need to take you to court. Instead they will either generally re-print it (the most common option), or alternatively add the amount to the next invoice for work they provide for you. If you are going to add the amount to another invoice rather than re-print it then yes you will need to manually add the missing amount due to the new invoice as an additional line item. However in most cases you should generally be re-printing the invoice. If you want to add a comment that the invoice is past due then you can add it in the comments field which will appear in the re-print, but again invoices are generally documents that you shouldn't edit once given out.

Regards,
Stephan Grenier
Founder
LandlordMax Software Inc.
http://www.LandlordMax.com
http://www.FollowSteph.com


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