We've just added the ability to create credits for your tenants - these are amounts that are intended to be returned back to the tenant, and could include things like security deposit re-payment, credits for services rendered, refunds, or other similar payments.
The first step is to add the credit on the tenant's account. This happens on the Lease Edit screen, the same place that you'd set up the lease terms and add Other Charges. In fact, the tab you want on the Lease Edit screen is the Other Charges & Credits tab - add a new credit in the "Credits" section:
Enter the particulars of the credit, including the type, a comment, and the amount. Also indicate when the credit is to be issued and on the books (credited on date). Click the ADD button and don't forget to scroll up and click SAVE LEASE.
With the Credit added, it will now be visible on the Payments --> Credits Payable screen:
This screen will show all Credits that are currently payable (the current date is equal or after the credited on date) and have not been paid out to the tenant in full yet. You can select one or more entries using the check boxes (just like on the Payments --> Payments Due screen) and use the Multi-Pay button to "automatically pay & post the selected credits", or you can click the green Pay button to pay a line item individually:
The Post Payment panel appears, and you can enter the details of the exact date the credit was paid out the tenant, including the amount (you can enter a partial amount if the credit is to be paid with multiple transactions or checks, etc.), method of payment, and reference/check #. Enter a comment for your own reference.
When credit payments are posted, an expense accounting entry is filed in the accounting ledger as well - this represents the corresponding debit from your operating account and can have any expense account (GL) code you wish to tag it with.
Click POST and the payment is processed. The credit payment will then be displayed on the Credit Payment history tab, which is the same as the tenant payment history tab except this list is just payments that have been issued back out to tenants, not payments from tenants:
All Credits (paid in full or otherwise) will appear on the Tenant Detail screen --> Charges & Balance tab:
As always, if you have any questions about this feature please drop us a line!