To set up your bank account opening balance you should firstly collect any money that is currently sitting in the bank (i.e the tenant's rent and deposit, landlord's main or float account balance)
Please refer to our article on how to set up opening balances:
🎓 Backdated tenancies
This will essentially build up the balance of the account and all you'll need to do it manually enter in the difference of the opening balance.
Note: The article below is only applicable if the full opening balance was manually entered.
To record a deposit help without affecting or doubling the deposit amount within the bank, please follow the steps:
Go to the "accounts" page > then click on "make a journal entry).
Select the date, the person this journal entry is related to (Landlord, Tenant or Directory). Once that is filled in select the opening balance account and the account you wish to credit. Add a memo and the amount you wish to credit/debit then press "make journal entry".
The person related should money credited to their main account (in this case the tenant Aqeel should have £500 credited to his main account). Go to the tenant related and press on actions > tenant account.
The money that was credited needs to be used for a deposit charge in this case, to move the money from one account to another, scroll down the accounts actions on the right and click on "make an internal transfer".
Here you can move money within the tenant's accounts. Select the "main" account and "deposit due" in that order and fill in the rest of the information. Once you have entered the amount click on "transfer" and the deposit charge will be paid.
