Tenant Refund – Non Vacating Tenant

Overview

A tenant may have inadvertently paid more rent than intended. Monies have been receipted to rent and the tenant now requires the overpaid rent to be refunded.

This document will cover:

• How to Reverse the Receipt
• How to Re-receipt Funds to Tenant Invoice Credit
• How to Allocate Tenant Invoice Credit to a Refund

How to Reverse the Receipt

The easiest most effective way to refund this back to the tenant is to cancel the receipt and re-receipt to tenant invoice credit and refund this way.

Reverse Receipt – Current Period

1. Go to Transactions > Cancel Transactions > Receipt Reversal.
2. Enter the Receipt / Reference number and click OK-F12
3. Confirm the receipt details displayed are the receipt you wish to cancel and click Yes
4. Enter a reason for the cancellation and click OK

NOTE:  If the landlord does not have sufficient funds to carry out the reversal, then you will need to wait until such time that there are sufficient funds to carry out the cancellation & refund

Reverse Receipt – Previous Period

1. Go Transactions > Cancel Transactions > Reverse Rent from Previous Period
2. Enter the Receipt / Reference number and click OK-F12
3. Confirm the receipt details displayed are the receipt you wish to cancel and click Yes
4. Enter a reason for the cancellation and click OK

NOTE: Rent Only receipts can be cancelled from a previous period.  If you need to reverse a receipt from a previous period that has sundries, invoices, tenant invoices credits etc. on the same receipt you will need to reverse the receipt manually.  Please see document “Reverse Receipt from a Previous Period”.

How to Re-receipt Funds to Tenant Invoice Credit

To receipt the funds into tenant invoice credit, you will need to ensure you have this feature turned on.  For more information on how to setup, please see document “How to set up and use Tenant Invoice Credit”

1. Go to Transactions > Rent Receipts or click on the icon on the desktop 
2. Enter the alpha index of the tenant and press ENTER
3. Click on the Invoice Credit tab
4. Enter details in the the Amount and Description fields
5. Click OK-F12
6. 6.Payment Method - Enter the payment method as Direct Deposit, with the Banked Date the same as when the funds were originally received

How to Allocate Tenant Invoice Credit to a Refund

Once funds have been receipted to Tenant Invoice Credit you can then allocate the tenant invoice credit to a refund.

1. Go to Transactions > Allocate Tenant Invoice Credit

2. Enter the Tenant alpha index and press ENTER

   NOTE: The amount held in tenant invoice credit will display on the right hand side top of screen

3. Click on the Refund tab and enter details:

   • Refund Amount - Enter the amount to be refunded

   • Description – Enter a description i.e. refund payment made in error

   • Contact - Select the Contact to refund

   • Payment Method - Select the Payment Method from the drop down menu

   • Payee or Account Name – Enter relevant details

   • Address and Forward Address – Enter the address details

4. Click OK-F12  

5. You will receive a prompt that a creditor disbursement has been created and a reminder to process the Creditor Remittance & Payment in order to complete the process. Click OK

6. You can payout your tenant as creditor now or this will payout during your next creditor run at mid month or end of month.For more information on how to payout a creditor, please see document “Creditor Payments Process in REST”.