Trust Accounts frequently asked questions (APAC only)

What is an invoice?

An invoice is used to move money from one person to another

For example, a rent invoice is created - this shows on the tenant ledger that the tenant needs to pay rent

When this invoice is paid, the money will then be moved to the landlord ledger.

What does part paid rent mean?

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

What is a deposit?

When you see deposit in the Reapit system, it is referring to the tenant bond

Where do I record or view the bond number?

From the tenancy, in the Accounts panel - beside Deposit, click Manage. In the Deposit Protection section, enter the bond number in the Registration No. field

Where do you locate how much rent a tenant has that is currently outstanding?

If the tenant is in arrears, the outstanding amount will be displayed on the tenancy screen, including the effective arrears. The total of any unpaid non-rent invoices will also be displayed

Where can I find the paid to date?

On the tenancy, Details screen, the paid to date and effective paid to date is displayed

The paid to date is inclusive and is the paid to date of the last fully paid rent period

For example: if the rent was due for the period 01/01/2020 to 07/01/2020 and the paid to date displayed as 07/01/2020, that means the rent period has been paid in full. If only part of this rent period had been paid, the paid to date would display as paid to 31/12/2019 and the effective paid to date would reflect the partial payment based on the amount paid

The paid to date can also be seen on the Chase Arrears screen

How can I print out a receipt for a tenant payment?

From the tenancy, in the Accounts Functions panel, click View Transactions

Locate the Tenant Payment you wish to print a receipt for - right-click over it and select Print Receipt

Where do you view the landlord statement?

The landlord statements are stored in the Landlord Documents section

The document type is Statement

How much rent is due to vacate?

To calculate the rent a tenant owes until their vacate date, you should complete the following steps:

1. From the tenant Transactions screen, view By Invoice and calculate the total unpaid rent invoices

2. Enter the date the tenant is to pay rent until in the Tenancy End date

3. From the tenancy, click Raise Invoice - you will see any rent invoices due, but not raised, until the end of their tenancy

4. To calculate the total amount they need to pay, add the current unpaid rent invoices to the total of rent invoices due until their tenancy end date