invoicing rent with 2 parties responsible for payment

michaelyoung · ‎September 19, 2023

I have a section 8 tenant that pays a small portion of the rent, while the Housing folks pay the majority. I currently invoice the full rent as a single line item. Problem is the Housing agency pays on time, but the tenant does not. I am currently applying Housing payments to the oldest balances first, which includes the tenant portion responsibility. This results in multiple open invoices with payments usually spanning more that a single invoice. Reconciliation is tough. Is there a better way to handle this?

Rainflurry · ‎September 20, 2023

@michaelyoung

This is the same reply I made to your other, similar post:

As long as you're using Receive Payment (New > Receive payment), you can divide the payment between invoices as you see fit and the bank deposit will match the total payment. For example, if you receive a $1,000 payment, you can divide it up between as many invoices as you want on the Receive Payment screen and the $1,000 total deposit will be deposited to the account chosen in the 'Deposit to' drop-down. That makes the bank rec easy. Are you doing it some other way?

michaelyoung · ‎September 21, 2023

Yes. That is true. But, it doesn't help me answer the tenant when they call and ask this question: "Exactly what month is this left over charge for $50.00. I pay my rent.every month."

Rainflurry · ‎September 21, 2023

@michaelyoung

An option for you is to add the previous month(s) late fees to the current month's invoice as separate line items. You can issue a credit memo for the late fees that you are forwarding to the new invoice or, if you're a cash basis taxpayer, you can remove the late fees from those invoices.

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invoicing rent with 2 parties responsible for payment