Collaborate on House Rent Billing Format for Client for it with Ease Using airSlate SignNow

House rent billing format for client for IT

would you like to know how to record receiving  rent payments from tenants in your management   service company well then you should watch  this video recording rent collections if you have any questions about this topic you  can leave them in the comments section below   and i'll do my best to help you and of course  if you feel the video helped you i hope you will   click like and don't forget to subscribe to get  updates on new videos that come out all the time   how do we record receiving rent from  tenants well first we use the receive   payments window we input the specific  date amount and tenant then we choose   which bank account that the tenant's money was  deposited into and that's it it's that easy   quick note before i demonstrate how to record  receiving rent payments normally we would collect   a security deposit from each tenant before or  at the moment we collect the first month's rent   in fact we would even collect a security  deposit from each landlord before we start up   those videos are coming in a future video very  soon so soon i will show you exactly how to record   all security deposit type transactions but  to get the idea of how a management company   operates day to day i'm showing receiving the  rent payment first so we're going to stick to this   very simple three-step plan example one let's  imagine on january 1 of 2022 we received three   thousand dollars for january's rent from betty  boop who is a tenant under the landlord alan arby   now this is our very first transaction so the  trial balance is blank but if we receive three   thousand dollars from rent from a tenant what will  change well we have three thousand in the bank now   so cash and bank will show up for the first  time as three thousand dollars and rent payable   to landlord clients is the reason we have that  three thousand because that three thousand will   we have to uh be paid to the landlord clients  so it's money we owe it's a liability with a   credit balance and 3 000 will show up on the  credit side for the very first time let's follow   the three-step plan and see if we get the same  result we can even open the trial balance before   we record the transactions and maybe change  the columns a little to make it look nice   we just follow the three-step plan and  open the payment window from the icon bar   we choose betty boop under the landlord alan arby  we put the date as january 1 of 2022 make sure   you choose the correct bank account you know you  only have to do this once if it's always going to   be the same bank account choose the bank account  the money's going into and now all you have to do is put the money amount when you type it  in after you type in the zeros push the tab   key because that will save the field but keep  the window open if everything looks good then   at the very bottom you might not be able to see  it in my screen but at the very bottom there's   a save and close window right here now you're  going to get this message about a payment credit   just click ok and when we go to the trial balance  you can see that cash and bank is exactly as what   we expected and this liability account indicating  what we owe to pay back to the landlord whose   tenant we just collected rent from shows up  for the first time as three thousand dollars   now what about example two january one still  the beginning of the month we received four   thousand for january's rent from  candy charles under alan arby so   if we received four thousand from a second  tenant under the same landlord in the same day   what will be the result well we'll have four  thousand more in the bank so we have seven   thousand here and we owe 4 000 more to clients  in general so let's record it the same way   open the payment window notice it remembers cash  and bank it remembers the last date we recorded   a transaction but this time it's candy under  allen for four thousand push tab now again you   could just hit the enter key and again we will  talk about this payment credit feature later   but for now click ok and the results and the  trial balance are exactly as what we expected   however the most important results show up right  here in the most important report landlord payout   balances if you click this report will clearly  show you that on january 1 we received rent from   betty for three thousand on january one we  received rent from allen for four thousand   therefore at this moment the total that we owe to  alan arby the landlord is seven thousand dollars   and you see how great this report is it shows  you the total to that specific landlord and the   individual tenants that you collected from but  to really get the idea let's do two more examples   let's imagine we collected under  the other landlord dave deeney   from this guy eddie edwards three thousand dollars  for eddie under dave deeney well if that were the   next transaction what would the trial balance  look like well we have 3 000 more in the bank   so that would go up to 7 000 and technically  we owe 3 000 more to our landlord clients   for the rent that we just collected uh that we  haven't given yet so let's go ahead and record   that so you know we leave the trial balance first  open payment still january one still cash in bank   but now it's a different landlord it's this tenant  eddie edwards and he just paid three thousand   dollars hit enter or go to the bottom and click  ok click ok again or hit enter close the window   and now you can see the result in the  trial balance is exactly what we expected   but if you go to the most important report  landlord payout balances you can see we owe   seven thousand to allen for two tenants and  we owe three thousand to eddie for i mean   excuse me we owe three thousand to dave  deeney the landlord for collecting eddie   that's why the total is ten thousand and  that's why at this moment the total we owe   is ten thousand one last one just to bring it  home again under dave deeney dave's other tenant   freddie froda paid 4 000. so what will be the  final result in the trial balance well you have   4 000 more in cash so you have 14 thousand in the  bank and you owe four thousand more to landlords   so you have rent payable to clients four  thousand fourteen thousand excuse me same thing   payment same bank account same date but this  time it's freddy froda that you collected and we hit enter hit enter again close the window  and now you can see the total in the bank is 14   the total we owe back to landlords for now  is fourteen thousand and why is it fourteen   thousand that's because you can see it's because  we are alan seven thousand for the two clients we   collected from him we owe dave 7 000 for the two  clients we collected from him therefore we owe a   total of 14 000 which equals what's in the trial  balance 14 000 rent payable to landlord client