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Add tenant dropdown

hi and welcome to the Tennant file video training series the Tennant file has the ability to create cheques and deposits often the tenant file can create cheques or deposits for you automatically saving you hours of work this lesson will cover the automated ways to create cheques how to enter them manually how to create handwritten checks how to work with your check register reconciling and printing checks first we should cover the basic way that cheques and deposits interact with the tenant file program as you know from previous lessons all of the accounting transactions are posted to the ledgers the reports that you run get their information from those same Ledger's while you can post transactions directly to the ledgers yourself if you are using the check and deposit features of the tenant file you should post all expenses to the letters by writing a check and all income by writing a deposit when you create a check it'll normally have at least one transaction associated with it that is to be posted to a ledger in the tenant file but you can have many transactions as part of a check for example a plumber works on five of your rental properties rather than write five checks you would write one check to the plumber but have all five transactions tied to that one check when that check gets printed the tenant file will automatically go into each of the five Ledger's and post the correct transaction for you deposits work basically the same way when you accept rent payments from your tenants especially near the 1st of the month you will have multiple tenants that make up your bank deposit you can create a deposit at the start of the day keep adding to it as more checks come in then close the deposit when you are ready to go to the bank at that time you can have the tenant file automatically post all of the rent received transactions to the correct tenant and rental unit ledgers ok now that we've covered some of the basics let's go ahead and get started first let's take a look at the checks in deposits area I'm going to click on the cheques in deposits button and that brings up the inner checks now this would be all the checks that you've entered into the system but have not yet posted anywhere they're just sitting in there waiting to be printed that's because the display by default shows all the inner checks next if you click on the printed checks this will be all the checks that have already been printed and they're in your system here you can move to another check by clicking on next or you can click previous first or last lastly we have the deposits button and this will be all of the bank deposits that are in the system so under display with one simple click you can move from inter checks to printed checks to deposits right here is the bank account that you're going to use so whatever bank account that you have selected here is what you're going to be working with right now it's set for the first primary bank account this is your main property management operating account you can have two other accounts which would normally be for security deposits or some other type of escrow account but normally you're going to be working with the primary bank account here if you need to find the particular check let's click on printed checks and click on find you can find it by the payee name or the check or deposit number so let's say I knew that I wrote a check to seed or something I'm going to type in Cedar click OK it's gonna find Cedar Valley homeowners association now it also asks you says this match is currently displayed do you want to continue searching for another match there might be more checks to Cedar Valley and if we want to continue looking through checks and see what other checks are written to Cedar Valley I can just click on yes but right now I'm going to click on no one more thing I want to point out is the post to ledger section here and this is really important and it's really important that you understand it because this is going to determine where and the tenant file things get posted this particular check that we're looking at is posted to a property ledger as I move through my checks I'm going to go to first you can see this check has two transactions and they were both posted to the unit ledger as you move through your checks it will change according to where that check is posted so as you're writing a check you need to keep in mind where do I want to post this to is it going to go to a unit ledger is it a property and you'll see in a minute when we enter a check that determines what you see on your screen all right let's go ahead and enter a check here so we're going to go into our inner check file and add a new one first I click on new and I'll point out just a couple of things here you have your payee list I'm going to write this check to a vendor so you could have your payee list for your vendors you could pull up your owners pull up your tenants I'm going to go with the vendor list and let's say I'm writing a check to handyman Inc click on the insert payee and it puts it in the page of the order of section over here I notice that this is going to be posted to the unit Ledger's which is exactly where I want to post it so I'm going to go here and select an account let's say this is for electrical repairs the post - description as I mentioned before this is going to work with the unit ledger that I've selected here so because the unit ledger is selected here the dropdowns give us all of our unit ledgers and as we pointed out in previous lessons this pencil right here means that you're adding a transaction the way to save it is to click on another row and there it's saved and the amount is entered into the check say that handyman Inc did two different jobs this was on a different rental unit and you can just keep adding transactions to this check it's going to keep adding the total up right here and it will write one check to handyman Inc so we're done with this check so I'm going to go ahead and save it now keep in mind inner techs are not posted anywhere the only way that they get posted is by printing them out and we'll cover that in a little bit I wanted to point out one more thing that if you click on a transaction on a check so like I'm clicking on 2093 Poplar Avenue and that row is selected I could click on this one Willow Street if I want to see what the owner balance is for that I can click there and you can see Willow Street a is part of this balance so I can take all of the owners properties and units and it will give me the current balance for that owner so if I want to be sure that there's enough money in the owners account I can check it that way this one is Poplar Avenue click on the owner balance and it shows the balance that this owner currently has now that we've entered a check let's go ahead and go to the printed checks and you want one enter a check that's already been written so you click on you and the program knows that you might want to enter a handwritten check you say yes you can put in any check number that you want in here you can also use the vendor list this time let's say we're entering some advertising and this is going to be posted to the unit ledger so drop down the units here and put in the amount and save it but let's say we also did some advertising on one of our properties and it was a four-plex so we don't want to charge this to four different units I'm going to switch to the property ledger and put in advertising again now in the post to description these are properties that drop down not units because we selected post to the property ledger so this check is for $399 fifty four of it is posted to a property and the rest is posted to a unit go ahead and click Save here and what comes up here is just a question is saying do you want to post this check to your ledger and the answer normally is going to be yes you would go ahead and post this transaction to your ledger for you it's posted now remember the inner check is not posted till it becomes a printed check but now we're working in the printed check file entering a handwritten check so that's why it asked you if you want to go ahead and post it lastly the center and brand-new deposit the deposit is normally going to be for rent that you receive from your tennis I'm gonna click on you here and you can see the default setting is for both that's because as you've learned before in previous lessons rent income credits the tenant ledger and also credits the unit ledger so it credits both the tenant and the owner with rent income it's asking for a deposit number I think it's a good idea to put the date in there as a number so I don't put 1:1 and 308 or use that as our deposit number you don't have to put a deposit number in if you don't want to posted to ledger we'll get to in a minute nothing's been posted yet you can fit a remark in here if you want to let's enter a couple of rent checks I'm gonna point out one more thing though right here this is new for deposits it's asking if you want to use the deposit number in each check or if you want to enter an individual cheque number so basically it's asking do you want to use this number here and put it right here that way the deposit number will be part of each transaction so let's go ahead and leave it on that the reason that you might want to enter individually would be instead of using the deposit number you could enter the individual tenants cheque number there and that would allow you to put a number in each of these fields I'm going to enter rent received so I'm gonna start typing rent and it puts it in there for me I'm going to write the vembur it's gonna drop down the units and also give me the tenant name you can notice that it did enter the deposit number here let's say this round is $1,200 I mean or another one you can start typing here too I'm gonna drop these down so you can see them and this is $1,500 click on another road to save it and there we have our deposit I'm gonna click Save however there's something unique about this at this point we've entered apposite this is in our check register but nothing has been posted to the ledger at this point and that is because we have not clicked on this post button you can see where it says posted to the ledger in for no it's because we haven't clicked there so let's say we exit and we've got two Tenet checks that are entered and a third tenant comes in later on in the day because we haven't posted that deposit yet we can get back into it and add the third tenant click on edit and or another rent received put in the address and save that so now it's the end of the day we're ready to make her bank deposit we've got these three checks so I'm going to save this deposit and this time I'm going to go ahead and hit the post button and what that just did is it went into these three tenants letters and the unit Ledger's and it posted these amounts you can see it says postage a letter yes and if we try to edit this deposit now and it says you can't do that because this deposit has already been posted let's take a look at where these got posted to I'm going to click on tenants they don't want to click on ledger and here's one of them you can see that the rent received November 1750 it's got the deposit number and this is posted to the tenant Gary Bradley I click on unit it's also in the unit ledger rent received for November and then it's covered under another video but you would post your management fees after that