Charges in Palace are Internal Transactions - meaning money is moving from one place to another but not actually leaving the Trust Account.
There are 4 types
- Charge Admin Fee
- Charge Inspection Fee
- Charge Tenant Debit
- Invoice Creditor (Classifies as a charge as money comes off the property and moves to an Invoice.
You can set up a recurring charge i.e a Statement Fee that is charge each month. See the Diary Help for more information
Charge Admin Fee:
This function will take money from a Property (Owner) and move it to your ledgers, even though it is called Charge Admin Fee, you can put them money into any Ledger i.e Advertising. You will need to set up a ledger if you don't already have one. (Click here)
Using Charge Admin - Sample is using Credit Checks
- Click on Transactions
- Click on the left hand side drop Arrow - select Charge Admin fee
- Select the property
- Check date
- Select the ledger from the drop down list - Select Credit Checks
- Put in amount
- NOTE: The amount you put in MUST be GST exclusive as GST will automatically be added
- Put in a Ref: In this example we have used the prospective tenant name
- Check amount is correct
- Add comments if needed
- Click OK
- The money has now been taken off the Property/Owner and moved to the Ledger.
Charge Inspection Fee:
This function is only used if you need to charge an inspection fee manually, normally you would always to it through the Control Inspections and then Reminders Charge Inspection. It is part of the Inspection wizard.
You can just follow the instructions from the Charge Admin Fee as it is mostly the same.
NOTE: if you use this function, it WILL NOT roll over your inspection that has been set up under Control Inspections
Charge Tenant Debit:
This creates an invoice against the tenant. One of the most common uses is for Water Rates, but can be used for any function where the tenant owes you money. You can create the charge and send an invoice to the tenant, the tenant then pays the invoices and the money is reimbursed to the Owner.
For the whole process of creating the tenant debit and receipting the tenant. See the Tenant Invoicing and Receipting Procedure File.
Invoice - Creditors:
The Invoice function is for entering Creditor Invoices into Palace. It does the following
- The invoice is entered against a property
- The money is taken from the property and moved to the creditor ready to be paid out at month end
- You can also charge a tenant directly from here.
For full instructions on how this works please see the Maintenance/Creditors Procedures. Basic Instructions are below
Entering an Invoice using Invoice Creditor
- Click on Transactions
- Click on the left hand drop down arrow and select - Invoice Creditor
- Click on the green arrow
- Find the property
- Check the date (You can only enter a date for this current month)
- Expense - Select an expense that is relevant to the invoice i.e Water rates if the invoice is from Watercare
- Note: Expense codes are important for the breakdown of expenses on the Year To Date Statement for the Owners
- Enter in the amount
- Enter in the Invoice Number
- Check the maintenance fee details etc
- Enter a Priority if needed - otherwise leave as medium
- Enter a due date if needed i.e Must be paid by a certain date
- Note: If due date is needed, it will create a reminder in the diary 2 days before the due date that was set.
- If some of the invoice needs to be on charge to the tenant you can fill in the information here and a Tenant Invoice will be created. Tick Charge Tenancy and it will take you to another screen.
- If there is already money receipted for this tenant, it will show on the screen and you can assign it to the Invoice that you are creating.
- If you have already scanned in the Creditor Invoice, you can click on the Paper Clip and attach the invoice to the diary.
- Click OK
- Once in the transaction screen you can click Process
NOTE: If you have more than one invoice to process, then tick on Rapid entry (At top of creditor Invoice screen) As you enter each invoice you click OK and the transactions pops behind into the Transaction area and then you enter the next invoice, when you have finished you click on Cancel. Then you will see all the transactions in the list, click on Process.