Creating Balance Transfers

A balance transfer moves a balance from one transaction to different transaction(s).

It also allows you to move amounts owed/applied between individual transactions inside a single account of a tenant. For example, if you need to transfer a portion of December's rent to November's water bill, then this option allows you to do so.

From the Main Menu screen, click TENANTS or RECEIVABLES. The Browse Tenant Leases or Browse Customers screen appears with all current leases or active customers displayed in a table.

Select how you want to order the tenant or customer table from the ordered by drop-down list, enter the search criteria in the search for field and click GO. The first tenant/customer to match the criteria is highlighted in the table.

Highlight the tenant/customer record who was given the wrong payment and double-click, or click

. The Tenant Management screen or Maintain Customer Information screen opens with the Tenant Information tab or Account Summary tab selected.

Select the Account Details tab. Displayed in a table are all the tenant's/customer’s account transactions.

Hint: You can click on the toolbar to see a detailed view of the tenant's transactions. The detailed view reports each transaction's beginning balance, charges, payments, transfers, and ending balance.

Click

on the toolbar, and select “Balance Transfer” from the menu that appears. The Balance Transfer Wizard is initiated.

Select the account you want to work with and enter a description for the balance transfer.

Click START to continue. A table displays all outstanding transactions which the tenant owes your agency from the last 3 months.

To view the tenant's/customer's outstanding transactions for a specific timeframe, use the show dates from and to date fields and then click GO. The charges within the selected timeframe automatically display in the table.

Select the re-apply date, or the date you want the new balances to transfer.

10.

In the Amount to Apply column of the table, edit the amount to apply to each outstanding transaction and to transfer payments between transactions. The total of the column must equal zero when you are finished.

Note: All entered amounts to apply must sum to 0. Also, each added amount is checked to make sure that the resulting remaining amount will still be between 0 and the original amount. You cannot use the wizard to end up with more than you started with on a transaction, and you cannot reverse a transaction.

Example: The tenant has a $30 credit in rent charges, a $40 late charge, and a $20 cable TV charge. If you want to apply the credit so it covers the entire cable TV charge and part of the late charge, enter -30 in the Rent field, 20 in the Cable TV field, and 10 in the Late Charge field. -30, 20, and 10 add to zero, so the tenant’s account is still in balance.

11.

Click NEXT to continue.

12.

Review and confirm the balance transfer information you have set up and click FINISH. The Account Details tab appears again.