Working with Lumpsum Payments (Buildings)

Working with Lumpsum Payments (Buildings)

Here are your options:

Option 1: Best Practice - Working on Multiple Files:

  • Allocate all received monies from tenants to their respective tenant files.
  • Optional: Debit commission and fees from each file.
  • If required: Add lumpsum expenses against multiple files to cover costs. 
  • Submit, Authorise and Generate a payment file for individual municipality and landlord payments.
  • From the generated payment batch report:
    • User can either make individual payments (multiple payments as per the report) OR
    • User can consolidate to make lump sum payments - Important: this option will require user to split the lumpsum payment as per the payment report when importing back the bank statement.
  • Reports like rent roll and cashflow will reflect accurate data.

Option 2: Working from a Single File:
  • Allocate all received monies from tenants to a single file (e.g., a customer file with the building name).
  • Add manual credit notes entries against the individual tenant files and process them to the tenant statement. 
  • Optional: On the single main file, debit lump sum or multiple commissions (e.g., a customer file with the building name).
  • If Required:  Add lumpsum expenses against the single file to cover costs (e.g., a customer file with the building name).
  • Submit, Authorise and Generate a payment file from the single file.
  • Tenant statements may require manual credit notes, impacting the rent roll by categorizing these credits under the category as "Other" instead of Receipts.

Option 3: Working on Multiple Files with a Single File Simultaneously (Using Journals):
  • Allocate all received monies from tenants to their respective tenant files.
  • Optional: Debit commission and fees from each file.
  • Load journal entries between individual files and a single file (e.g., a customer file with the building name).
  • If Required:  Add lumpsum expenses against the single file to cover costs (e.g., a customer file with the building name).
  • Submit, Authorise and Generate a payment file from the single file.
  • Cashflow statements will show journals, but they should balance with the credit under the "Other" category.

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