Those located in Asia-Pacific will use the term Trust Account, while customers located in Europe will use the term Client Account. For more information on regional terminology, refer to this article.
When a deposit is made into the client / trust account for more than one tenancy; for instance, if a tenant occupies more than one property and pays both rents together, it is not possible to reconcile using the Find and Match function on the Bank Statement reconciliation.
Users attempting to match 1 deposit to invoices for more than one tenancy will receive this error:
Error: You cannot combine rent payments for different tenancies.
Error: Cannot pay invoices for rents across different tenancies.
First, you will be required to create the receipt first for each tenancy & then reconcile the payment. Select the + button on the Quick Links bar and then select Process Payment.
- Select the Tenancy this payment relates to. The process can be carried out multiple times to account for multiple tenancies.
- Select the Invoice Number/s you wish to apply the payment to.
- Specify the Payment Amount for each invoice.
- Select Payment Details
- On the next screen, select Process Payment.
- To receipt payment across multiple tenants, select Process Another Payment and repeat the above steps.
Once the Receipts are processed, they can be selected on the Bank Statement reconciliation against a single deposit.
For instructions on using Process Payment please see Receipting Funds via Process Payment.