Improvements to Payments & Accounting

Today we made some internal improvements to the way accounting entries are created when you record a payment.  Most of these changes are internal and not overtly visible, but we thought we'd pass the info along to our users in case they notice the change or there is a specific issue that is a result of this change.

Previously when you record a payment, the system would remember the last account code (from your account code list in the Admin page) for the payment.  It would also remember the last account code used for any late fee payments.

That was helpful, because you didn't have to manually create an accounting entry, but there was a problem with that simplified approach.  Often, you might have wanted to file some payment types in a different account code than other payment types.  For example, you might have wanted to store Rent payments in "Rent Income" and "Parking Fee" payments in another account code, let's say "Misc Payments".  This was a bit cumbersome with the old way of doing things - you really had to make sure that the proper account code was set before you recorded the payment.

Now, we have built in a mechanism where the system will remember the last account code used for each payment type.  So no matter what payment type you record, when you switch to another one, it will remember the right account codes to use.  It's much more flexible now because you just have to define the payment type --> account code relationship once (on the manual Collect Rent screen) and it will be remembered for that type, but not affect any other types - you can now freely break up your income accounting entries into more specialized buckets for reporting purposes and the like.

Special note: since the system is now using a different way to "remember" these types, you might have to double-check and reset your payment to account associations once.  You can do this by clicking the green Pay button for a due payment and clicking "More Payment Options" - then, on the collect screen, scroll down and look at the accounts selected for the payment.  You can fix them here, and save the payment - this setting will be remembered for that payment type.

We have spot checked a few accounts and everything appears correct, but it might be worth a look to make sure you accounting entries are going to the right accounts when you collect a payment.  Drop us a line if anything looks off.

Regards,

The 123Landlord Development Team