How to choose between Fee or Bond Ledger

Ledgers

There are two types of Ledgers you can use:

  • Fee: This type of ledger will allow you to collect money on behalf of you company, it will be included in
                income and allow you to pay out with your other ledgers. E.g Lease Break Fees
  • Bond: This type of ledger is a holding ledger only, that means the money has to be taken out by assigning it
                to a Tenant Invoice, once assigned to an invoice the money will go to the Owner.

To assign money from a Ledger to an Invoice, there must be money sitting in the ledger, this means that the BOND Ledger CANNOT EVER have payments made directly out of the Ledger, to ensure that this does not happen, you must make your Bond Other Ledger i.e Water Rates into a Restricted Ledger. This means that you will not be able to do Payment Ledgers.

  • Go to Ledgers
  • Highlight your Bond Ledger i.e water rates
  • Click edit
  • Then tick "Restricted"
  • Click Save

NOTE: If the Ledger has already had Payments made from it, you will not be able to make that Ledger Restricted. You will need to create a new Ledger.

 

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