Changing the Vacate Date - Pop up re Overpaid Rent Ledger

If you have the Overpaid Rent Ledger setting turned, it means that when a vacate date is put in and the rent has already been paid up to the vacate date, it will take that money and put it in a ledger.

So if you change a vacate date, The system will check if there is any money being currently held in the overpaid Rent Ledger. If there is, you will get a pop up telling you to handle that first.  

Here are the instructions for doing that

  1. Reverse the transaction that put the money into this ledger
  2. Change the vacate date at this stage
  3. Then receipt the reversed amount in as receipt rent - Palace will work out the money to go to the owner and the money to go back into the Overpaid rent ledger based on the new Vacate Date.
  4. Present both transactions in Bank Reconciliation as they are internal transactions and will equal the same amount.

 

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