When preparing to add the Opening Balances in Jupix, you will need to identify; what is a tenant balance and what is a landlord balance.
- A tenant balance is any money you have received from a tenant, which is due to the landlord or agency for rent or other expenses. The money is currently sat in the client account and has not been paid out at present
Examples of this are: Deposit monies (including Holding deposits and Pet deposits), Rent received, Rent in Advance and Move in Monies
- A landlord balance is any money you have received from or on behalf of a landlord. For example retentions or floats, that the agency is holding in the client account.
Examples of this are: Maintenance floats, Rents which have appeared on a statement but not sent to the landlord and Overseas tax