Tenant Opening Balance

Tenant Opening Balance

Clients have the option to request a tenant opening balance import. They will receive a spreadsheet to input the balances, and PropWorx will handle the process of importing these balances. (fee based)

1. Click Admin on the Main Menu. 



2. Click on Customer Files.



3. Select Rental on the menu heading.


4. Click on the File Name to open the file. 



5. Customer File will open. Click on Tenant Charges on the file tab ribbon bar. 



6. Tenant Charges tab screen will open. The screen is divided into two main sections:
  1. Tenant Charges & Expenses - this section is for users to add and manage charges to be processed to the tenant statement. 
  2. Tenant Statement - this section is for users to generate and distribute tenant statements (see Tenant Statements Balances and Reports)


How to load a Tenant Opening Balances


1.  Within the “Tenant Charges and Expenses” section, click on the Add button. 



2. A menu will appear, select the appropriate option based on the charge type:
  1. General Debit Entry: This option is to load an arrears balance brought forward.
  2. Credit Note: This option is to load an credit brought forward.


Add a General Debit Entry 

1. From the menu, select General Debit Entry from the menu.



2. The General Debit Entry screen will open.

3. Fill in the mandatory fields. All other fields are optional:
  1. Description:  Type in a description for the general debit entry (e.g., Opening Balance - Water Arrears).
  2. Amount: Enter the amount to be loaded as a balance bought forward. If required, add the VAT from the VAT option. 
  3. Frequency: Select Once off.


4. Click Save to create the transaction. 



5. The debit entry will be listed under the “Tenant Charges and Expenses”.


Add a Credit Note


1. From the menu, select Credit Note from the menu.



2. The Credit Note screen will open.

3. Fill in the mandatory fields. All other fields are optional:
  1. Description:  Type in a description for the general debit entry (e.g., Tenant Overpaid August Rent).
  2. Amount: Enter the amount to be loaded as a balance bought forward. If required, add the VAT from the VAT option. 
  3. Frequency: Select Once off.


4. Click Save to create the transaction. 



5. The credit entry will be listed under the “Tenant Charges and Expenses”.


Edit or Delete Tenant Expenses


1. To edit or delete a Tenant Expense, under the “Tenant Charges and Expenses”, click on the edit () button on the expense.



2.  Expense screen will open. 
  1. To edit: Make required changes and click Save.
  2. To Delete: Click on the Delete button and confirm the prompt. Please note that deleting an entry will permanently remove it from PropWorx, including the tenant expenses and payment screen associated with it.


Process Opening Balances Tenant Statement - individual file

Tenant opening balances can be processed in two options available:
  1. Process statement charges on a single file
  2. Process statement charges on a multiple files using Bulk Statement Processing (see Bulk Tenant Charges Processing)

1. Under the “Tenant Charges and Expenses”, select the opening balance date from the Current Rental Period date.



2. Select the opening balance entry from the list by ticking the opening balance, then proceed by clicking Process Button.



3. Processed opening balance will be displayed as greyed out for the selected processing date.



4. Balance will appear on the tenant statement. 

    • Related Articles

    • Cashbook Opening Balances

      A cashbook opening balance is the amount of money you have in your cashbook (i.e. bank account or cash) at the beginning of a specific accounting period. It represents the balance of money was available before any new transactions are recorded. It's ...

    • Statement Options: Deposit Balances

      1. Click Settings on the Main Menu. 2. Click Statement Options 3. The statement options screen will open. 4. Click Edit button to load and maintain company settings 5. Tick or untick which deposit balances should appear on the statements 6. Click ...

    • Cash Management

      Cash management in PropWorx encompasses the handling of physical cash received from tenants that is not deposited into a bank, as well as cash paid out to landlords without being withdrawn from the bank. Additionally, it includes the management of ...

    • Accountings Details

      PropWorx is designed for a single legal company entity. While multiple bank accounts can be managed and linked to different properties, certain elements like Trial Balances will combine all bank accounts into one consolidated view. For users needing ...

    • Company Details

      PropWorx is designed for a single legal company entity. All online portals and internal systems display the same company details. While multiple bank accounts can be managed, certain elements—such as the VAT number, logo, and footer—remain universal ...