Regarding "Last Month's Rent"

Often we get a lot of questions about collecting last month's rent or catching up back rent.  Sometimes we get users that ask us to add 'Last Months Rent' as an "Other" payment type in the system.  For most cases the system should already be capable of posting a payment for last month's rent - if you've created your lease with a start date back far enough, the system will start expecting payments from the 'first payment due on' date in the lease setup.

Then, you can collect back rent as usual.  If you're collecting money today for due dates that are back in the past (i.e. money in arrears), you should apply money received for past months to those specific due dates in the system, to catch up those months.  The software will keep track of what's due vs what's owed for each due date, so you should able to collect last months (any month's) rent in the normal fashion without using an 'other' type for this.

Let us know if you have questions about how to collect any types of payments - the system will handle most scenarios just fine - searching the blog for specific topics should pull up some other articles about collecting specific types - HOA payments, late fees, security deposits, section 8 payments, etc.