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Crediting and Amending Charges

How to credit or amend a charge on a ledger

Written by Hannah Malarky Andrew

Crediting and amending charges in Street

Street gives you two ways to correct a charge on a ledger without voiding it.

Credit charge lets you write off all or part of a charge, with the write-off shown on the ledger.

Amend entry lets you change the amount of the charge itself, increasing or reducing it, so the outstanding amount updates without a separate credit showing.

An example of where credit charge would be useful would be a £1000 rent charge on a tenancy that has £500 outstanding however the tenants have moved out early and the landlord has agreed to write off the remaining £500. As it is part allocated you wouldn't want to void it, so you can credit the remaining £500 to balance the ledger.

Note - Crediting charges should not be confused with Credit Notes, which involves debiting your agency ledger to credit another ledger.

How to credit a charge

Head to the ledger that has a charge that needs crediting and click the three dots on the right hand side of the charge and click 'credit charge'.

Here you can view the details of the charge, including the outstanding amount. You can enter the amount you wish to credit and enter a description.

When ready to proceed click 'allocate' to credit that charge. This will remove the amount entered on the credit from the outstanding amount and the balance on the ledger will update accordingly.

Note - As there is no movement of money here, crediting a charge will not result in a payment to allocate or any payments to make.

How to amend a charge

Head to the ledger with the charge you need to amend, click the three dots on the right-hand side of the charge, then click 'amend entry'.

Note - If a charge is part allocated, you can only reduce it down to the amount already allocated. For example, if a £1000 charge has £500 allocated, the lowest you can amend it to is £500.

Amend or credit?

Use credit charge when you want the write-off to be visible on the ledger, for example when a landlord agrees to write off the remaining £500 of a rent charge after tenants move out early. Use amend entry when the charge was wrong in the first place and you want the ledger to show the corrected amount instead.

Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!

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