When setting a tenant up for monthly rent payments, the edit screen of the tenant needs to stay at a weekly rate. This is so the reporting will be more accurate and you still have the ability to use the summary of rent report.
Once you have entered in the weekly rate, now you need to enter the monthly rent details in the Payment details screen. (Note: top- right, hand side of the tenants edit screen you will find Payment details, press the ...) as below
In this screen, the rent amount needs to be the monthly rate the tenant is paying and the Receipt period needs to "M" to represent that this tenant is on a monthly period.
Once all completed Save and Close