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. 

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