A Landlord float is an area of the system where funds can be set aside for future use. Float balances can be viewed on the Float tab of the landlord ledger.
If funds have been received from the landlord to be held to the float, the bank line can be assigned as:
The property> Float in - directly assigns funds to the Landlord float.
The property> Landlord other income - to show on the landlord ledger and statement (money will then be deducted from the landlord ledger to the float as stated below).
The float is created by deducting from the landlord balance and moving the funds to the property float.
To create the float, please follow the steps below:
Navigate to Financials > Landlord deductions
From the left sidebar, click on Float payment in
Populate the form with the details of the property and the amount to be held in the float
Click Submit
This will take funds from the landlord’s balance and move them to the float when funds are next available, and when Include ALL expenses is selected during the payment run.