How to Transfer a Lease Payment to Another Lease that is Under a Different Portfolio

Did a tenant make a payment to the wrong lease? Is a tenant moving to a new lease and you need to transfer their payment to another lease. This article will show you how to transfer that payment when the leases are under different portfolios.

The transfer can be accomplished by creating lease charges and lease credits.

1. Navigate to the lease that has the payment that you want to transfer.
2. Click on the green Actions and select Add Charge. Then enter the details below and click Save:
   
   • Account - Select a clearing account.
   • Amount - Enter the amount of the payment that you want to transfer.
   • Date Posted - Enter the date of the original payment you are transferring.
     
     
3. Next, navigate to the Transactions tab on the same lease that has the payment that you want to transfer.
   
   
4. Click on the Tenant Payment that you want to transfer to open up the details page.
5. Once you are on the details page look for the Reapply button (you may have to scroll down the page to find it) and click it.
6. In the Amount to Apply column enter the payment amount next to the new clearing charge that was just created and click Reapply.
7. Navigate to the lease where the payment is being transferred to.  Once there, click on the green Actions button and select Add Credit. Then enter the details below and click Save:
   • Account - Select the same clearing account that was selected when creating the charge in step 2.
   • Amount - Enter the amount of the payment that you are transferring.
   • Date Posted - Enter the date of the original payment you are transferring.
   • Amount to Pay - if the lease has unpaid charges you will have the option to apply this credit to the unpaid charges.  Enter the amount as needed.

    

8. Lastly, create a ledger transfer to bring the clearing accounts back to zero on both portfolios.  From the left navigation menu click on Accounting / Transactions.. Then click on the green Actions button and select New Ledger Transfer.  Enter the details below and click Submit. 
   • Date Posted - Enter the date of the original payment you transferred.
   • Bank Account - Choose the same bank account that the original payment settled to.
     
     • Entry #1
       
       • Ledger - Select the portfolio, property or unit that the 1st lease was associated to.
       • Account - Select the same clearing account that was selected when creating the charge in step 2.
       • Debit - Enter the amount of the payment that you are transferring. (if account chosen above is a liability account, entering a debit will decrease the account)
     • Entry #2
       • Ledger - Select the portfolio, property or unit that the 2nd lease was associated to.
       • Account - Select the same clearing account that was selected when creating the charge in step 2.
       • Credit - Enter the amount of the payment that you are transferring. (if account chosen above is a liability account, entering a credit will increase the account).