What is a balance forward?
A Balance Forward is the previous balance on an account that has been carried over from the previous statement to the current statement.
Tenant Ledger | Balance Forward
If a tenant did not pay their rent last month and owes you $1500, the balance forward on their current statement would be $1500 as they still owe that amount.
Bank Ledger | Balance Forward
Another example would be a bank account ledger. Let's say the balance in your bank account at the end of 2022 was $5,856.00.
If you view a statement for 2023 dated from 01/01/2023 - 12/31/2023, the balance forward by definition would be the previous balance of $5,856.00 which has been carried over from the previous statement to the current statement.
Note: This follows the same logic when pulling a property ledger or owner ledger report.
To View a Ledger Report Without a Balance Forward
A ledger report within the Rentec Direct software shows the information within the date range selected. The only method to see an account ledger without a balance forward would be to select the 'include all dates' option. By selecting 'include all dates' produces no balance to carry over as there are no prior statements.