Here you can quick jump to sections:

Recurring Charges

One-Off Charges

Receipt Type & Rules

Creating Receipts

Reversing or Reapplying Receipts

Creating a Prepayment

Using a Prepayment

Bank Deposits

From the perspective of a property manager, Charges/Credits, Receipts and Bank Deposits are "Accounts Receivable" and can be found under the Accounts Receivable sidebar section.

In the Simple Manager that everyone starts with, we have hidden the General Ledger and Manual Journal Entry functionality. If you'd like that enabled, please ask.

We've also hidden the automatic Management Fee functionality. If you'd like that enabled, please ask. We call it Receipt Payables and it's way cool!

When you create an Occupancy, if you check the "create recurring charge" box on rent, you will already have a recurring charge set up. It defaults to the 1st of the month and will only make charges on a go-forward basis at midnight on the day the charge is to be made. So if it's after 12:01am on the 1st, the next charge won't be created until the next 1st. Any back charges must be manually created.

To add, delete, or adjust recurring charges, navigate to the subject Occupancy via the search bar or Occupancy index (Properties > Occupancies).

Let's say you have a recurring utility charge that you want to add. On the Occuapncy, find the Recurring Charges section and click the "+" button to add a new one.

Here, we're adding a new recurring charge for $50 a month for GL Account "6400 - Utilities" with a description of "Monthly Utilities Share". You can set recurrence many different way but we are setting this to recur on the 1st of every month without an end date.

Clicking the blue edit button on a recurring charge brings up the same form where you can modify settings or delete the recurring charge.

To create a one-off charge, use the Shortcut Menu and click on Create Occupancy Charge or Credit.

Or navigate to the Charges section of the sidebar (Accounts Receivable > Charges) and click on the Create button in the top right.

Charges and Credits work essentially the same. Just like you pay Charges with a Receipt, you also use Credits with a Receipt.

Charges are fairly simple, you first select an Occupancy:

Then you select a Date, enter in an Amount, and select a GL Account from your Chart of Accounts. Here we're going to select Rent and call this charge "June Rent". You can always modify your Chart of Accounts by changing names and numbers or hiding or adding new GL Accounts.

If you select Create, you're done. If you select Create and Add Another, it will open a new blank Create form when you're done. This allows you to enter in lots of fees in quick succession.

Charges can be reversed so long as they have not been paid. They can also be edited to be reduced or increased but not below what they've been paid.

Credits work the same way.

There are two types of Receipts: Occupancy Receipts and Property Receipts. Occupancy Receipts are used 99% of the time as they are how you record and track Tenant Payments. Property Receipts are for when you receive money that's not associated with an Occupancy. For example, a tax overpayment refund. You cannot create Charges for Properties, only Occupancies, so the Property Receipt lets you record the payment without having to first create a charge. It will show up in your Property accounting but not pollute any Occupant's accounting.

Occupancy Receipts pay Charges or use Credits. If there are no charges to pay or there is a leftover overpayment, they can create Prepayments. Prepayments are essentially credits except they represent cash received and credits do not.

Occupancy Receipts cannot be dated before the charges they pay. For example, If it's the 3rd of the month and Rent was charged on the 1st, you can't create a Receipt and back date it to the 31st of the prior month and pay the Rent charge from the 1st. Why? Because that charge didn't exist on the 31st. The accounting system must remain logically consistent. You either have to change the Payment Date to the 1st or create a Prepayment on the 31st and use the Prepayment on the 1st against the Rent charge. See the Prepayment section below for more details on creating and using Prepayments.

The shortcut menu is the quickest way to Receipts:

To create an Occupancy Receipt, you must first select an Occupancy.

Once the occupants are selected, any unpaid or partially paid Charges or unused Credits or Prepayments will show. We can see here that Bruce Wayne Jr's $4,500 rent and $50 utility payments haven't been recorded. Let's record them. He did pay on time.

The Cash Accounts (which are GL Accounts of type:Cash) on the right are default set according to your Cash Management Rules but can be manually changed if need be. Everyone starts with a default Cash Management Rule and fake Bank Account. You can find out how to update those and read more about Cash Management Rules here.

What's important is the Cash Accounts are associated with a bank account because this will determine which bank they show up to be deposited into (if you go so far as to track your deposits, not everyone does). Bank deposits matter most in reconciliations.

For this example, we're going to only record Bruce as paying his $4500 rent on the 1st, in cash, in-person, and to Alice. When you type in the Amount Received, it auto fills the "Amount to Pay column in the charges list but you can modify it as needed. A receipt can pay one or many charges.

Let's click "Create" to finish. "Create and Add Another" lets us immediately and quickly create more Occupancy Receipts.

Here is the final Receipt. Manual receipts can always be Reversed or Re-Applied via the buttons in the top right. Automatic Receipts generated form Portal Payments can only be "Re-applied."

When you reverse a receipt, you must pick a date on or after the original receipt date. Reversals can be a little slow so give it a second.

If the reversed receipt was in a deposit and you're simply reversing the receipt to make a correction, it's often easier to use Reapply.

Reapply will also reverse the original receipt but will first make a new one and copy over any Deposit info. Otherwise, you would have to make a new Receipt and Add it to the Deposit of the original Receipt in order to maintain the integrity of any Reconciliations.

Reapply looks like the original Receipt form:

The original receipt isn't replaced until you complete the process.

To create a prepayment, on any receipt with an overpayment or no charges, you can use up the remainder of the funds in a Prepayment by checking the "Make Prepayment" box on a receipt. It will automatically check and fill if the total entered in the "Amount Received" box is greater than open Charges.

Here, we're pretending Bruce Wayne Jr is paying $200 when he only owes $50. It auto fills the "Amount to Pay" column but you can adjust as desired. The total row is red and the Create buttons greyed out because e have to select a cash account to apply the Prepayment to (the green box).

Once we select the desired Cash Account, we can record the receipt.

This is what the receipt will look like:

IMPORTANT: Prepayments can only be reversed if they haven't been used. If they've been used, you must first reverse the receipt that used them.

Now next time you go to record a receipt for Bruce Wayne Jr, there will be a prepayment that can be used. Here, we've created a charge on July 1st for Utilities and are going to create a Zero Dollar Receipt to use the Prepayment. After you select Bruce Wayne Jr, the system automatically tries to use the Prepayment.

As there is only a single charge for $70, it only tries to use $70 of the $150 prepayment. The Cash Accounts of the Prepayment and the Charge must be the same. Now, click Create.

This is a Zero Dollar Receipt. By default, they are suppressed from Tenant/Occupancy Ledgers to reduce clutter. Here is Bruce Wayne Jr's ledger with Zero Dollar Receipts excluded:

Here it is with them included:

You'll notice that it doesn't affect the balances. This is because it is zero dollar. We recommend that you use credit and prepayments in zero dollar receipts even though you can use them in non-zero receipts. It helps to keep things separate and clearer at quick glance.

Bank Deposits are for accounting purposes only and should be used to represent actual deposits you've made or will make at a bank - or balances on Venmo or Coinbase or whatever store of funds you want to represent in your accounting (you could call a bank account your mattress).

All Receipts are available to be deposited except Portal Payment Receipts because coManage automatically deposits those for you via Transactions. Recording Bank Deposits is necessary if you want to reconcile your accounting against your bank or other accounts. However, if all of your payments are received through the portal, there are no Manual Receipts to deposit =)

To create a Bank Deposit, navigate to the Shortcut Menu:

Or to the sidebar under Accounts Receivable > Bank Deposits.

First you must select a "Bank Account."

Once you've selected a Bank Account, it will bring up any associated Receipts:

Select the checkboxes for the ones that you want to be a part of this deposit. Here, we're selecting them all. We're calling this Deposit Number "1" but you can call it anything and it doesn't have to be a number.

Click Create in bottom right and then you'll see below. You can add receipts to a Deposit in case you made a mistake or you can cancel a Deposit, which will make all of the receipts available to be deposited again.

If you've kept up with your deposits, you can perform a reconciliation: https://intercom.help/comanage/en/articles/4772891-how-to-reconcile-a-bank-financial-account

That's it! You've completed the Accounts Receivable Process!

We have other ways to batch create charges as well, like from the Aged Receivables Report. If you're looking to accomplish something that's not described here, please reach out to us at support@comanage.com or through the chat bubble. We probably have a way and it's not turned on for your organization yet.