How to Receipt and Refund Vacated Tenants Rent REST Professional

Overview

You may have a tenant that is vacating or has vacated and rent has been paid up in full to the vacate date. The tenant may have inadvertently paid a further rent payment. These funds will need to be receipted into REST Professional and refunded back to the tenant.

We do not recommend receipting these funds to rent as the overpaid amount can be inadvertently paid to the owner and may be difficult to retrieve. You can change your system options so that rent cannot be paid past vacate date which will prevent this being done.

We recommend that these funds be receipted to Tenant Invoice Credit so that it records against the tenant details and the refund can be made directly from the Allocate Tenant Invoice Credit function.

This document will cover:

• How to receipt Overpaid Rent to Tenant Invoice Credit
• How to Refund the Overpaid Rent from Allocate Tenant Invoice Credit
• Change System Option – May Not Pay Past Vacate Date

How to receipt the funds to Tenant Invoice Credit

1. Go to Transactions > Rent Receipts
2. Select the tenant alpha and press ENTER
3. Go to the Invoice Credit tab
4. Complete the Amount and Description fields
5. Click OK - F12

　

6. On the Banking details screen select the payment method
7. Click OK - F12

How to Refund Overpaid Rent

1. Go to Transactions > Allocate Tenant Invoice Credit
2. Select the Tenant alpha and press ENTER
3. Go to the Refund Tab
4. Complete the Amount and Description fields
5. Choose the Payment method
6. Fill out the Forwarding Address
7. Click OK - F12

8. Click OK to the message that a creditor disbursement has been created

9. This will be added to the creditor run or can be paid immediately by going to Reports > Creditor > Remittance and Payments selecting the tenant and processing the steps to payout.

Note: For tenants that have already been archived, you can make them active and follow the above steps, or alternatively receipt funds into AASUSPENSE and proceed to pay the tenant directly from the AASUSPENSE account.

Change System Option – May Not Pay Paste Vacate Date

To prevent any unnecessary rental payments being receipted directly to rent and then in error being paid to the owner you can update your system option so REST Professional will not allow any rent to be receipted past the vacate date.

Note: You will require a Response Code from Rockend to access this. Please call 1300 365 788.

1. Go to Other > Utilities > System Options > Miscellaneous
2. Put in the Response Code required
3. Select May not pay past vacate date

4. Click OK - F12