For uncollected NSF Fees from the tenants, you can collect those by running Pay Management Fees under Accounting > Payables. Be sure to run it as of "End of Last Month" and then as of "Today". Once you run that function and pay those bills, go to the Accounting > Diagnostics page.
If you have remaining items under "Positive Balances in Additional Fee GL Accounts", then you will need to collect those funds by creating a payable to your management company, towards the property on the Diagnostics, and the same GL account and amount.
Any items under "Negative Balances" are owed back to your owners. You can clear these up by entering Other Receipts under Accounting > Receivables. Be sure to check "Exclude from Pay Management Fee Calculation" > the remaining details are the same as the Diagnostics (property, amount, GL account, etc).
You will need to transfer the funds from your corporate bank account back to your trust account and deposit the receipt once the transfer is made. Alternatively, if you are due to collect on NSF fees, you can make a transfer from your trust account to your corporate bank account.
Consulting with AppFolio, Buildium, Propertyware, & Rent Manager experts to answer any and all software related questions in less than an hour. No long-term contracts and easy to get started.
lEARN MOREBookkeeping services provided by expert accountants for AppFolio, Buildium, Propertyware, & Rent Manager. For less than the cost of a full-time bookkeeper you can have a whole team of experts.
lEARN MORELet us take care of your corporate payables, receivables, reporting, and payroll with Quickbooks and Gusto. With us you can focus less on accounting and more on growth!
lEARN MOREGet your bank reconciliations done every single day! Keep your books accurate by making sure that everything is accounted for. Available for AppFolio, Buildium, Propertyware, & Rent Manager.
lEARN MORECurious just how clean your books are? Find out with Triple Tied Out! It's our daily auditing service that checks your bank recs, liabilities, and property balances. For AppFolio, Buildium, & Propertyware.
lEARN MOREWe typically respond in under 10 minutes!
Get Started Today