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This guide has been reviewed against our global client base and classed as relevant to APAC only |
This guide explains how to record an on account/part paid amount a tenant may have paid in a previous system - if the property is a new management, the same process should be followed
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To enter this information into the system, you will need the following details from the previous system/property manager:
Rent paid to date (inclusive)
On account/part paid amount
What is a part paid amount?
The tenant is due to pay the specified rent either on a weekly, fortnightly or monthly frequency as per their lease agreement. This amount is raised as a rent invoice, for that period in your Reapit database. If the tenant pays only part of the amount due, or pays more, then a part payment is created.
Scenario: A tenant pays $350 weekly starting from the 01/01/2020. The rent invoice is created for the period 01/01/2020 to the 07/01/2020.
Example 1: The tenant makes a payment of $300. They have part paid $300, leaving $50 unpaid.
Example 2: The tenant makes a payment of $450. They have paid $350 to the 07/01/2020 with $100 part paid. The $50 has been paid towards the rent for the period 08/01/2020 to 14/01/2020, giving them an effective paid to date of 16/01/2020
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To enter this information into the system, you will need the following details from the previous system/property manager:
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Inclusive or
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exclusive?
Some Property Management software operates using exclusive dates (
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i.e. 01/10 – 01/11). Reapit uses inclusive dates (i.e. 01/10 – 31/10)
To determine whether the previous system was using inclusive or exclusive paid to dates, please refer to the information below. If you are working from inclusive dates, you will need to minus one day.
Tenacity - exclusive
Property Tree - inclusive
REST - inclusive is the most common set up, but exclusive is available so recommended you double-check
ProMan (RP Office) - inclusive
Sherlock - exclusive
Console - inclusive
Migrating data or entering a new management?
Depending on if you are migrating the data from another system using a conversion or if this is a new management - select the relevant instructions below:
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Entering a new management
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Example: tenant pays rent $400 every week |
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- they are currently paid to the 30/04/2021 (inclusive) with $350 part paid |
1. Next rent due date On the tenancy, Financial & Renewals tab:
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2. Initial invoice As this is an existing tenancy, the initial invoice does not need to be raised On the tenancy, Accounts Functions panel:
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3. Set the rent invoiced up to date We now need to tell the system that all previous invoices have been paid and are not required From the Financial & Renewals tab:
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4. Raise the first rent invoice Ensure the rent payment schedule is as expected
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5. Raise a credit note Now create a credit against the rent invoice. This will be treated as a part payment, and update the effective paid to date. In the Accounts Functions panel:
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6. Enter the amount
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7. Credit the management fees
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8. Enter credit note details
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9. Accounts information On the tenancy Details tab, Accounts panel:
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Entering a part payment from a previous system (data migration)
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Example: tenant pays rent $440 every week |
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- they are currently paid to the 30/04/2021 (inclusive) with $350 part paid |
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1. Check the rent paid to date On the tenancy, Financial & Renewals tab:
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2. Raise the first rent invoice Ensure the rent payment schedule is as expected On the tenancy:
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3. Raise a credit note Now create a credit against the rent invoice. This will be treated as a part payment and update the effective paid to date. In the Accounts Functions panel:
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4. Enter the amount
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5. Credit the management fees
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6. Enter the credit note details
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7. Accounts information On the tenancy Details tab, Accounts panel:
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How to record an on account/part paid amount a tenant may have paid in a previous system - if the property is a new management, the same process should be followed |