2.1. How do I enter in partial payments (accounting entries paid over two or more different dates)?

For Partial Payments you will want to separate the amount due into two or more separate Accounting Entries by clicking on the "Partial" button at the top of the accounting screens.

So for example if you have a rent of $1000 due on Dec 1st where the tenant pays you $600 on Dec 1st and $400 on Dec 12th, you will need to create two separate Accounting Entries, one for each payment received (similar as you will have two line items in your bank statements, one for each payment made - regardless of when everything was due).

In other words you have:

  Accounting Entry 1 Accounting Entry 2
Date Due Dec 1 Dec 1
Date Paid Dec 1 Dec 12
Amount Due $600 $400
Amount Paid $600 $400
Amount Remaining $0 $0

If the second payment hasn't yet been made (for example it's just Dec 10th and the Dec 12th payment hasn't yet been made), then the Date Paid and Amount Paid would remain empty for the second Accounting Entry, meaning it would be considered a late Accounting Entry.

For non-payments you can enter "NSF". It can happen that a tenant never pays a rent due or another bill he owes to the property owners. If you do not count on him ever paying the amount, then we do recommend you to keep a record of the Accounting Entry that was never paid should you ever need to go to court, etc.

For this specific Accounting entry, you can enter in "NSF" for the amount paid. NSF will then automatically be written for the amount remaining as well. This then tells the software that the amount will never be paid and it is no longer in the late accounting entries list. As well the software will then close the Accounting Entry so that you no longer see it with an Amount Remaining to be paid.

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