Tenant Starting Balance
If you are transitioning to the Rentec Direct property management software, your current tenants will have either a zero, negative, or positive balance that you'll want to have reflected in the system.
Tenant Ledger Balance
If a tenant has a zero balance (meaning they neither over nor underpaid) no steps are needed. Additionally, no need to enter a starting balance if you intend to enter historical transactions as that process will create a balance forward.
But if you simply need a quick ledger starting balance, whether that is a negative or positive amount, instructions are below.
Posting a Negative Tenant Starting Balance
If a tenant owes any amount, follow these instructions to reflect a negative starting balance.
In your Rentec Direct account:
- Choose a Tenant from the Tenant List.
- Click Post Expense from the Profile Card, Tenant Menu, or from within the Tenant Ledger.
- Change the Date to the last day before the first rent charge was posted.
- Enter the Amount owed.
- Add a Memo.
System Advice: Do not use the recurring option and it is recommended not to change the category.
- Click Post Expense when finished.
Note: This will create a negative amount on the ledger on the day prior to the upcoming rent charge.
Posting a Positive Tenant Starting Balance
Follow the same instructions as above except enter a negative dollar amount as this will create a credit on the tenant ledger.