You can use cash that's been previously withheld on a ledger, however, it can only be used when adding expenses.
This article includes:
- Click the Residential Lettings department tab
- Click Tenancies on the main homebar
- Search for the tenancy in the Find bar and click Go. Click View on the relevant tenancy
- Alternatively, find and click the tenancy from within the Last Viewed section
- Click the Tenant Ledger tab
- In the Tenant Ledger section, click Add Tenant Expenses
- Within the Add Expense section, if you have cash withheld on the ledger, the first option you'll see is Use Withheld Cash?. Tick Use Withheld Cash?
- Proceed as you normally would with adding the expense
For more information on Adding a tenant expense, click here
- Once you click Save & Add New or Save, the Net Amount (£) will be debited from the Cash Withheld (£) on the Tenant Ledger. Should the Net Amount (£) be greater than the amount available in Cash Withheld (£), the remainder will be debited from the Ledger Balance (£)
To credit Cash Withheld (£) to the Ledger Balance (£) or refund this directly to the tenant, we require a so called generic supplier. This is simply a Supplier/Contact in your system for internal use. We recommend calling this “Tenant Refunds” or your agencies name
To refund withheld money to the tenant:
- Add an expense as described above for the generic supplier. To know which tenant this relates to, we recommend adding the tenants name as the Supplier Invoice Number
- The resulting payment will sit in Pay Suppliers and it will be clearly visible that it's a tenant refund
If instead you wish to simply credit the money from Cash Withheld (£) to the Ledger Balance (£), you'll have to add an expense using withheld cash, as described above, for the amount you want to credit to the Ledger Balance (£).
To get this to be a ledger balance, instead of making the payment from Pay Suppliers, you'll need to credit the charge. The balance will then be credited to the Ledger Balance (£).