Sometimes Landlords/Property Owners may send money directly to their Management Agency, this article will explain how to reconcile transactions when the landlord has made a payment to you.
Step 1 - Add Transaction
You should already have a charge against your owner, if not, add a charge against your owner (this can be "Management Fee Charge"/"Sundry Charge"), next add your Property Owner Receipt
Step 2 - Run a Sync with Xero
Step 3 - Reconcile
You can now reconcile the transaction as a received item.
Step 4 - Remit
You can now remit the charge you raised to the owner against the Property Owner receipt. This should always leave a remittance of £0.00.
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