This scenario is for Xero users. The general overview for this is we would collect the rents in Arthur, and make payments to the owner in Xero.
*When you are creating the property, be sure that you enter yourself as the owner of the property/units.*
Step 1: Creating your Tenancies
Once you have set-up your tenancies and generated your recurring charges, you will go to Xero to reconcile your rent.
Step 2: Reconciling our rent
To complete a reconciliation, you will then enter Xero and complete a reconciliation with our received item and the ‘Direct Rent’ transaction we generated in Arthur.
Step 3: Paying the True Owner their Rent
The final step is for you to pay the true owner. This is best practice in Xero, however we strongly recommend speaking with your accountant or a member of the Arthur team so we can understand your set up before giving you the go ahead.
The first step is to add the true owner as a contact. To do so click on Contacts > Add. (Only create a new contact if one doesn’t already exist for your owner).
You can add bills within the contact screen or in Business > Bills
Understanding Bills – One off bills
Understanding Repeating Bills – Scheduled bills
If you take a look at the landlord statement you will see that You owe an amount to the owner.
These bills will need to be reconciled on the reconciliation screen with the spent item of you paying the property owner.
Our support staff are ready to help with any technical issues.
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