How to add a transaction – Individual and recurring

This article looks at

1. Where to add transactions
2. How are transactions created
3. How does hierarchy affect transactions
4. What statements are available to view transactions
5. Where can recurring charges be created
6. How to add a recurring transactions
7. How does tenancy type affect setting up recurring transactions
8. How to add a manual transaction
9. Who else can create a transaction

1. Where can transactions be added 

• Property
• Unit
• Tenancy
• Work order

2. How are transactions created

• Manually
• Recurring
• Via contractor app

3. How does hierarchy effect what transaction types are available and who is the payor

Transaction payable by the tenant can only be added to the tenancy

Transaction payable by the owner can be added at all three levels

4. What statements can they be seen on

• Tenant statement
• Owner statement
• Contractor statement

5. Where can recurring charges be created

Recurring charges can be added when

1. Creating a tenancy This linked to article adding a tenancy
2. Retrospectively to adding tenancy in tenancy>recurring charges>add
3. Property level>recurring charge>add recurring
4. Unit level>recurring charge>add recurring

5. How to add a recurring transaction

Here we look at adding the recurring from  property, unit or tenancy

1. This is where you select who the charge is relating to.
2. ‘Starting on’ is the date that the invoice will be generated on the statement.
3. ‘Repeating’ is to select the frequency that the transaction will generate.
4. ‘For the period’ is for showing which period of time this transaction relates to e.g. you could have a charge generated in November for the period 1st to 31st of December.
5. ‘Ending’ will dictate when the recurring charge will stop.
6. ‘Transaction Type’ to select which charge you want to create.
7. ‘Expected Payment Date’ is when the charge is expected to pay after this date the charge will become overdue.

6 How does tenancy type affect recurring transactions

Residential rent

When adding residential rent recurring’s your main focus will be the date the rent is due. This means your starting on and period start will be the same, in other words Arthur will create the transaction on the date that its due.

In the example below, we have created a monthly rental transaction due on the 12th of every month

Commercial rent

When adding commercial rent recurring’s you will focus on laying the transaction in on specific invoice date, this gives enough time to send off the invoice to the client before payment is due. In other words, your starting on will be earlier than your period start.

In the example below, we have created a monthly rental transaction invoiced on the 1st but due on the 25th of the month

Commercial or residential charged in arrears

When rent charged in arrears you will focus on laying the transaction in on a specific invoice date after the period the rent covers.

In the example below, we have created a monthly rental transaction invoiced on the last day of the month for that same monthly period.

7. Adding a transaction manually

Go to property, unit or tenancy>statement> add transaction

8. Who else can create a transaction

Contractors can post transactions within jobs.

This linked to:

How contrcators post invoices

How to handle incoming contractor invoices