If the tenant has overpaid their rent then they will be due a refund. You can check for Tenant Refunds through Tenant Reports. This report should be run prior to month end.
Before processing the tenant refund, enter the tenants bank account details in the tenant Edit screen. This will allow you to do a Generate File to upload to the bank
- Go to Financial – then Transactions - Click on the left hand drop down arrow
- Click on Refund - Rent
- Click on Generate
- Find the tenant
- Check the date
- Check the amount, you can change to less but you can never change to MORE.
- Once finished click on Confirm
- Then click Process
- Then click on Online File
- The tenant should be sitting there (Only if you had a bank account)
- Then click on generate and download the file
- Remember to upload the file to the bank
- You can now go back to the tenant and archive them.
If you are using the Overpaid Rent Holding Ledger function then please see the below Helpfile on how to Refund Overpaid Rent ;