How to Sundry Receipt in REST Professional

Overview

You can receipt any monies you received that are NOT tenant rent, bond, residential tenancy agreement fees, reservation fees or tenant invoices in to REST as a sundry receipt. Sundry receipting allows you to choose whether to charge management fees and calculates the GST on management fees if appropriate.

Steps

1. Go to Transactions > Sundry Receipts
2. Enter the Alpha index of the property and press ENTER
3.  Enter the details for the reimbursement:

• Incl GST – Amount to be credited & remove the GST if this is not applicable
• Description – Describe the funds you are receipting
• Account code – Use income account code (i.e. if funds are from the owner you would use 140 – Owner contributions)
• Management Fee % - This field should be left blank unless you want to charge a management fee on the total of the sundry receipt.

4. Click OK-F12

5. Enter the banking details:

• Payment Method – Select the relevant method
• Received from – The name of the person paying the funds

6. Click OK-F12

The funds will now have been paid to the owner and will appear as a credit on the owner ledger.