Overview of Lettings Ledgers Module
Our Lettings Ledgers system has been created to compliment the features of our general
property marketing system. It’s a double entry accounting system that will manage
all aspects of recording the financial transactions associated with running a busy
lettings agency.
We’ve worked enormously hard to make this system the easiest and best system you
will find available.
This is how the system works at its most basic level.
- Create your tenancy
- Raise invoices and other charges (rent demands)
- Post payments received from tenants into debtors
ledgers
- Calculate and charge commissions
- Process payments to landlords
- Print your invoices and statements
Pre tenancy creation
Reference checking utilityMore
Detail
On tenancy creation
- 4 types of tenancy creation provided for –
- i) Standard tenancy (no property management)
- ii) Managed tenancies
- iii) Finders-fee only tenancy setup.
- vi) Input opening balances only (Used when transferring
your balances from existing system like LetMC, Caldes, CFP or Focus etc)
- Easy entry of tenant, property and landlord fields
- Bond collected and Tenancy Deposit Scheme accounting
provided for
- Rent collection reminders can be set on tenancy creation
- S21 and similar notices management
- Insurance referrals provided and accounted for
Additional invoice schedules can be created during tenancy setup against landlord
or tenant for advance charges for service charges etc.
Incomplete first rental period invoicing provided for.
Deferral of commission calculation payments to landlord provided for (Student landlords)
Ability to create uneven invoicing schedules (e.g. Half rent periods for students)
Property Maintenance Aspects of the System
Management Utilities
- Posting receipts into system
- Correcting errors (journal adjustments)
- Noticeboard reporting
- Invoice and statement printing
- Management reporting
- Overseas landlord maintenance
- Sundry invoices and credit note production
- Ledger recording and analysis
- Reference checking
- Arrears management
- Full integration of system merge fields into MS Word
- Landlord login tools facilitated for online statement
download
- Working with 3rd party accounting software
- Property Inspection reminders and update facility
- Safety certificate maintenance and expiry reminders
Security
Access to the system has been isolated to approved system users only therefore the
access menu would be hidden from non-approved Lettings Ledger users but it would
not prevent users from maintaining data regarding the actual property and contact
records through our marketing system.
Our marketing system provides full property and inventory management and job scheduling
against the property. Fault logging, job scheduling and recharging of contractors
invoices is also facilitated through system.
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