If a tenant has overpaid a rent amount, shown on the received panel left section of the bank feed in Xero, is greater than the rent due, you can allocate the overpayment to the tenants account by following these steps.
Locate the transaction using Find & Match
In this case the true cost of the rent was £647.00 but from the live feed we can the tenant has paid a fee of £650.00. We must locate the fee in Arthur by looking for the true rent charge and selecting it. You can see the transaction that has been selected by the green.
The next step is to allocate the overpayment and the incoming funds and to then put aside the extra, in this case £3.00 that the tenant has paid for their rent.
Click on ‘New Transaction’ and select ‘Receive Money’ as shown below.
You will then be taken to the screen below, where you are creating the Over payment. Select ‘Over payment‘ as the received as monies, whilst selecting the tenant that has sent you the monies, in this case ‘Darren Moore’ and an appropriate description.
Click ‘Save Transaction.’
This will then create the overpayment transaction for the tenant, which in this case is an amount of £3.00, which will sit in the tenants account until needed.
Once synced with Xero this overpayment will be available to allocate to future unpaid charges.
You can view all unallocated Receipts by going to Financials > Tenant Invoices.
Here you can filter to see your unallocated receipts.
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