Tenant Refunds

There are times when you will want to give a refund to a tenant. A refund is different than a rent concession or discount because the refund is coming from a 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

There are two ways to give a refund to a tenant depending on how you'd like your reports to read -- both are explained below. 

In your Rentec Direct account: 

1. Click Properties. 
2. Right-click the Property that received the original income and click Post Income if you want to offset the original income category on reports or Post Expense if you've created a new category for refunds. 
   
   1. Post Income option:
      Enter a negative dollar amount (Example: -100.00), choose Tenant from drop-down menu, choose original income Category, and a memo as needed. After Posting Income, edit the transaction to add in the Bank from the drop-down menu for the check you created. 
   2. Post Expense option:
      Enter the dollar amount of the refund, choose the Bank and then Tenant from the drop-down menus, choose your expense Category, and enter a Memo as needed.  Click Post Expense when finished.