I have a tenant who is in arrears and is now making overpayments to catch up. What is the best way to enter these in the software?
When a tenant has fallen into arrears they will start paying off the arrears slowly or will make overpayments in subsequent months. When entering such rents into the rent schedule, they should be tied back to the date when they were due. For example you have the following: Date Owed | Amount Owed 14/05/2009 | £500 14/06/2009 | £500 Let’s look at two scenarios of how the payments could be made (if they aren’t made on time): SCENARIO A – Payments all made as part payments ————————————————————– You receive three payments for the £500 owed on 14/05/2009 Date Paid Amount Paid 14/05/2009 £100 20/05/2009 £300 25/05/2009 £100 Each of the payments would be assigned to the date when it was owed i.e. 14/05/2009. One would be posted against the actual rent entry and the other two as ad hoc payments. SCENARIO B – Tenant overpays in one month ————————————————————– You receive two payments for the £500 owed on 14/05/200
