Those located in Asia-Pacific will use the term Trust Account, where customers located in Europe will use the term Client Account. For the purpose of this article, we will refer to it as a Trust Account. For more information on regional terminology, refer to this article or contact support.
Re-Leased can hold funds on behalf of tenants. This feature includes:
- Receive funds into the tenant's ledger when processing payments or reconciling funds received.
- Option to refund from Tenancy Ledger.
- Option to apply funds from Tenancy Ledger to an invoice.
To receipt funds to the tenancy ledger from the bank reconciliation screen follow these steps;
1. Select the Find and match button.
2. Select Apply to Tenancy Funds.
Select the tenant, enter a description & click Continue. The amount is now made available from the tenancy ledger which can be found by selecting Trust Accounts Tenancy ledgers Funds or by selecting the tenant profile.
Allocation of funds from the Tenancy Ledger
If you wish to apply the funds to an invoice select the blue Apply to invoice button this will then allow you to allocate the funds or part funds to an existing invoice. the invoice must be addressed to the tenancy ledger name.
If you are required to refund the tenants you can select the Refund to tenant button. Ensure that you have bank details located against the tenancy contact.