Tenant Refunds
There are times when you will want to give a refund to a tenant for overpayments.
Note: A refund is different than a Rent Discount, Credit, Concession, or Write off and Returning a Tenants Security Deposit, because the refund is coming from past income received. To accomplish a refund, an expense from the Property will need to be created because it holds the original funds.
How to Create a Tenant Refund
To refund a Tenant, there are 2 steps:
Step 1 - Post an expense to the property the original funds were posted to.
- Click Properties
- Right-click the Property that received the original income and click Post Expense
- Enter the details for the Payment, if you haven't created a custom category, you will want to use category 0000 uncategorized and using the dropdown by "Charge Tenant", select the Tenants name
- Post Expense
Step 2 - Edit the transaction to change the category
- Click Properties
- Click the balance to enter the ledger
- Click the paper/pencil to the right of the transaction to Edit
- Change the category from 0000 Uncategorized, to the category used when funds were originally received from the Tenant. (Most Commonly used 4000 Rental Income)
- Save Changes