Rent, arrears and statements

Every month is a row. Payments land where they should, the late fee is its own line, the invoice and the statement are one click, and the bank statement reconciles against it all.

The month as a row

For each tenant and month: what is due — rent plus the month's charges — what was paid and when, and the status. Charges such as water, electricity or parking sit inside the month. Payments are applied to what is owed in the right order, so arrears age the way they should.

Late fees and arrears

A late fee is charged when a month goes overdue, on the terms you set, and is tracked on its own. The ageing report shows who is behind and by how much; the late notice is a PDF from the tenant's row.

Invoices and statements

One invoice per month with anything still owing brought forward, and a statement of account with the running balance — as PDFs, emailed or downloaded from the tenant portal. A registered VAT vendor's invoice is a tax invoice.

Reconciliation

Upload the bank statement or connect Xero. Each line is matched to its tenant and shown to you with the reason, for one-click confirmation; money out is read as expenses. A bank deposit fee can be passed on to the tenant it was for.

Questions

Read on

• Guide: rent collection and arrears in South Africa
• Guide: reconciling rent with your bank and Xero
• Feature: deposits and interest