At some point, your accountant may contact you and ask for a breakdown of the funds in your client account. Users with access to the Financials > Reconciliation page can create a summary by following the steps outlined here. For users who do not have access to the Reconciliation PDF, the steps below will allow you to run reports to detail this breakdown.
To gain a detailed list of funds currently held in your client account, run the following reports:
1. Deposit balances:
Click Lettings properties > Other Balances > Deposit Balances
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2. Float balances:
Click Lettings properties > Other Balances > Float Balances
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3. Landlord balances:
Click Lettings properties > Property balances
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The total in the landlord balance column of each row is the landlord funds not yet paid out
4. Tenant funds:
Click Lettings properties > Other Balances > Overpaid rent
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This will show all tenant overpayments that are held and haven't been returned yet
5. Contractor funds:
Click Contractors > Contractor Summary
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The total here is funds you hold that are due to a contractor
6. Future held rent:
You must also account for any rent you have received and offset to the future. To see these amounts, you should:
Click Lettings properties > Other balances > Offset rent
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This report will show funds you hold for future dated rent held in your client account