Rental Income Tracker (RIT) computes the current charges for any rental period, including late charges, and creates Statements (10) and rent Receipts (11).
When you click the Create Receipt (11) button in Rental Income Tracker (RIT), the payment is automatically posted to the Payments field (8) in RIT, and to the Payments field in Tenant Tracker.
You can easily locate the first or last record for any tenant by clicking the Go To Another Tenant button (15).
All payments for any one rental period should be entered on one Income Tracker record, and there must be one record for each tenant for each rental period.
When you get partial payments from more than one source (or at different times), you should add the subsequent payments to the original record for that period by changing the Payment Date (1), enter the new Payment amount (7) and clicking the Create Receipt button (11).
There are several ways to create a new record in Rental Income Tracker (RIT). If you are in Tenant Tracker, just click the Post New Rent button. In RIT just click the New RIT Record button (12), and a list of tenants will appear for you to choose from.
The Payment Date (1) is automatically filled in when you create a new record in Rental Income Tracker, but can easily be changed by clicking the Choose button above the field.
After creating a new record, the Tenant (2), the Unit (3), and other information, including the Current Charges (4), Starting Date (5a) (the first day of the rental period), the Ending Date (5b) (the last day of the rental period), and the Late Date (5c) are all automatically entered. Make sure all this information is correct before clicking Create Receipt (11).
All charges, including the current rent, any past due balance, recurring charges and additional charges are displayed in the Charges field (4). You can easily add charges to the list by typing in the field or by clicking Add Charge.
Recurring Charges should be added to the Other Recurring Charges field in Tenant Tracker, so they automatically get added to the new RIT records.
Create a rent receipt for printing by clicking the Create Receipt button (11). If the tenant pays the entire amount then the total of all charges is automatically displayed in the Payment field (8).
If the tenant makes a partial payment, enter the payment amount in the Payment field (7) and the amount will be noted in the Payments field (8) (in both RIT and Tenant Tracker) when the Create Receipt button (11) is clicked.
When additional payments are made, return to the record, enter a new Payment Date (1), the new Payment amount (7) and click Create Receipt (11).
Once the rent has been paid on a record, or a new record has been created for a subsequent rental period for the tenant, the Record Locked indicator (above 8) is highlighted and you can't make any further changes to that record. If, for some reason, you need to make further changes, disable the Record Locked option.
To create a statement of all charges due (instead of a receipt which means a payment was made) click the Create Statement button (10). Make sure you don't leave a record with no payments. Payments of $0 are permitted.
Record helpful reminders, correspondences, notes, etc. in the Notes field (6). You can add these notes to the Receipt by clicking the Add Notes to Receipt button above the field.
You can create Batch reports by entering a unique number in the Batch # field (9) for all the records for one batch (ie, a deposit). The current date in short format is suggested. If you are entering a second payment, you can also enter a second Batch # by clicking on the field again.
Click the New RIT Record button (12) to create a new record. To remove one or more records from the database, click the Delete This Record button (13). You will then be asked if you want to delete All records or Just this one (only the current record).
The Sort RIT Records button (14) sorts the records by Name, Unit or Date fields in the database.
The Go To Another Tenant button (16) is used to search for text on any record in that particular component (or database).
You will find much more information about Rental Income Tracker, including a Tutorial, by clicking Rental Income Help (17).
The Unit Report button is at the bottom of the screen.
If the Sync option above the Unit field in Tenant Tracker is enabled, the Tenant Tracker record for the Tenant will automatically be displayed when you go to another Rental Income Tracker record.