Any transactions added to Arthur will have a relationship to:
Transaction will fall under two main categories:
Identifying your management type in Arthur’s ‘Financials’ is a fundamental step to ensure that your set up reflects your business. This is especially important if you intend to integrate with cloud accounting software later on.
Two types are available;
Some Arthur clients are a mixture of both so we suggest setting your default position to the most common management type. To edit your financial set up click here
Depending on the level you view the statement will determine what transactions you see
Here is a tenancy statement at property level of 9 the burroughs showing rent from all tenancies in this block. You will see rent from flat 6 and flat 3 in one staatement
Remittances are a collection of charges and receipts that result in a single payment (transaction) being made. Remittances are made to:
An owner remittance can be presented to the owner from:
There are many advantages to using the two systems. One of the most important is the avoidance of having to manually record the same data across multiple software/spreadsheets. Another advantage is that it complies with new regulations for Making Tax Digital. One of the best features is the bank feed and reconciliation process. In short, Arthur is responsible for tenant, owner and contractor statements and Xero or QuickBooks is responsible for your business. This gives users the best of two worlds.
Our support staff are ready to help with any technical issues.
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