Tenant Refunds
There may be times when you need to refund a tenant for overpayments. Rentec Direct property management software provides the option to refund overpayments by printing a check directly from your Rentec Direct account or documenting an alternate method.
Whether you are printing a check from your Rentec Direct account or documenting a payment made using an alternate method, the transaction will need to be posted to the property the tenant is/was in, because that's where the original transaction was posted.
System Note: Refunding Tenants electronically through your Rentec Direct account is currently not an option. Please review Online Payment Processing | Overview for clarification of what types of online payments can be processed through your Rentec Direct account.
Option 1: Refund a Tenant Overpayment by Printing a Check
If you are printing a check from your Rentec Direct account to refund a Tenant overpayment, there are 2 steps:
Step 1 Post the expense
In your Rentec Direct account:
- Click on Properties
- Right-click on the property that received the original income and click on Post Expense
- Enter the payment details -
- Payment Type - Print Check
Note: It's important not to select ach or cc as the payment type - Payee - Enter the tenant's name
- Category - 0000 Uncategorized
- Charge Tenant - Using the dropdown select the tenant's name
- Payment Type - Print Check
- Click on Post Expense
Step 2 Edit the transaction to change the category
- Click on Properties
- Click on the property balance to View Ledger
- Click on the paper/pencil to Edit the transaction
- Change the category from 0000 Uncategorized to the category used when funds were originally received from the Tenant. (Most Commonly used 4000 Rental Income)
- Click on Save Changes
Option 2: Document a Refund For a Tenant Overpayment (That was paid by an alternate method)
Step 1 Post the expense
In your Rentec Direct account:
- Click on Properties
- Right-click on the property that received the original income and click on Post Expense
- Enter the payment details -
- Payment Type - Other
Note: It's important not to select ach or cc as the payment type - Payee - None
- Category - 0000 Uncategorized
- Memo - Indicate the method actually used to refund the overpayment
- Charge Tenant - Using the dropdown select the tenant's name
- Payment Type - Other
- Click on Post Expense
Step 2 Edit the transaction to change the category
- Click on Properties
- Click on the property balance to View Ledger
- Click on the paper/pencil to Edit the transaction
- Change the category from 0000 Uncategorized to the category used when funds were originally received from the Tenant. (Most Commonly used 4000 Rental Income)
- Click on Save Changes
Note: Click the following links for information on