client account help please- to add as an account or invoice each time?

Question asked by Mr Lee Carr 10 years ago

I have a client account to which tenant pay their rent and then we deduct the managed fee and then pay over the remaining, also maintenance invoices get paid from this account. can this be added to CB as another account, if so what style of account should it be from the drop down box? and what income would i have to state the rent was classed as as its not our income. or is it easier to ignore this and just have the main account create an invoice for the managed fee? we manage 60 properties so this could potentially take ages.

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3 Replies

Hi,

I think it is going to be a lot easier if you just invoice the client for the managed fees in Clear Books.

If you were to account for the full amount of money received you would need to create invoices for the amount each tenant owes. Next create new bank account and pay off these invoice using this account. The money you actually receive can be explained as a transfer from the bank account to your business account and the remainder would need to be explained as a payment to the client - these payments would need to be coded to the same account (Settings>Codes). This whole process is would be similar to the contra process:

https://www.clearbooks.co.uk/support/guides/sales/how-to-create-a-contra-payment/

Best answer
10 years ago

Hi Hannah - I've just seen your ticket on this, I'll reply from there

10 years ago

okay i thought so, i was experimented and then created a few issues with the income, i have voided the payments so they didnt show on the P& L, can you remove the lettings account completely and remove the records?

10 years ago

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