The Ledgers on iamproperty CRM give a breakdown and history of the accounting transactions posted to the system. Transactions added to iamproperty CRM can affect different Ledgers depending on type of transaction processed.
This guide will show how the Tenant Ledger works, how to use the Tenant Ledger and what information is held in it.
The Tenant Ledger displays all transactions (invoices and payments received) against a particular Tenant all the way through from the prebooked stage to archived transactions. This is also per tenant on the Tenancy.
Getting Started
The easiest way to view the Ledgers is to click the ‘book’ icon in the bottom left hand corner of the Accounts dashboard, or any other screen in the Accounts module.
To select a Ledger click into the ‘Ledger Type’ field and select the Ledger you want, in this case ‘Tenant Ledger’. Then, in the ‘Record’ field search for the Tenant whose ledger you wish to view. When searching for the ‘Tenant’ in the ‘Select Record’ menu you are able to search by their name or by the Property address. There is an icon to the left of the Tenant name which will detail if the Tenant is Prebooked ‘PB’ , Live ‘L’ or Archived ‘A’.
Across the top of the screen are shown 4 icons, showing the amount of Outstanding Invoices, Deposit Balance, Funds to Allocate and Rent.
Just underneath are 4 icons on the left side of the screen. These icons give access to the Transaction Sheet, Exclude, Delete and Group by Batch functions. Group By Batch, this groups transactions together e.g. if several transactions have been processed from the BACS List then this option will group these together and show the total of these transactions rather than the transaction displaying individually.
To the right hand side of the screen. There is a search field, the option to increase the number of rows displayed, refresh icon, also the ability to download the complete record to a csv file or create a PDF to print.
Transactions Screen
Column Headings
The column headings in most of the Ledgers are the same or very similar. In all the iamproperty CRM screens where information is shown as rows and columns with column headers, the columns can be sorted by dragging left and right to change order. The heading can be clicked on to sort in ascending or descending order and when the mouse pointer is hovered over the heading a three-line menu will be available which allows the column to be filtered by a range of options (contains, equals, starts with…).
Three-dot Menu
There is also a three-dot menu to the left of each row.
- ‘View’ allows the detailed transaction information to be viewed on one screen (’Edit Transaction’ screen) and what Ledgers the information is shown in.
- ‘Exclude’ allows the entry to be excluded from any Statements produced.
- ‘Delete’, deletes the transaction.
- ‘Receipt’ allows a receipt to be produced for the transaction.
- ‘Transaction chain’ shows the transaction and any transactions linked to it. This can allow the user to see where money has come from and where the money has gone.
Transactions can show in multiple ledgers, for example a Rent payment will show as a debit (money out) entry in the Tenant Ledger and a credit (money in) entry in the Property and Landlord ledgers. This is to show that the Tenant has been asked to pay (been Invoiced for) the rent payment, a Bank Transfer transaction to show that the money has been paid in to cover the request for payment (the invoice) and then a ‘Rent Payment’ out of the account to show the rent has been paid. The transaction chain then shows the ‘Rent Payment’ in the Property Ledger, the request for payment (invoice) was raised against the property so, the payment needs to show there. The transaction also shows in the Landlord Ledgers as this payment belongs to the Landlord so needs to show as an asset.
Column Headings
‘ID’: a unique identifier for the transaction.
‘Transaction date’: date and time of the transaction on iamproperty CRM.
‘Transaction Type’: what the transaction is, e.g. Service Charge (see below for examples of Service Charges)
‘Sub Type’: e.g. Gardening a more detailed description of the transaction which is configurable in iamproperty CRM, also can control how VAT is applied.
‘Debit and Credit’: Money in and out of the Ledger. Invoices always show as £0 value here.
‘Balance’: is the amount held in the Ledger you are in. In the Property Ledger this is money that (if in credit) can be paid out to the Landlord.
‘Unallocated’: if money is paid into the account (credited) and NOT paid out to settle an invoice, then the amount will sit in the Unallocated column until used to pay an invoice.
‘Outstanding Invoice Balance’: is any overdue and unpaid invoices on the account, the Arrears. In Property and Tenant Ledger this is the Arrears balance of the Tenant.
To the right of ‘Outstanding Invoice Balance’ is more information on the transaction, the date and who added the transaction, whether the payment has cleared and if the payment has been excluded from iampropertyCRM reports which is shown with a green tick. Also if retained funds have been released, when and by whom.