Opening Balances - Landlord agency fees

Opening Balances are the breakdown of all the cash you hold in your client accounts, which are added into Alto to give you a starting balance, that reconciles with your client bank account.

Ideally it is better to pay out all agency fees from your client account to reduce the number of entries necessary in adding them to individual landlords. If this isn't possible, agency fees can be added as Opening Balances. Whether they are fees owing to your agency or if they are fees collected from your landlord that you haven't yet paid across from your client account to your current account, you can add them as part of your Opening Balance entries.

This article includes: 

• Adding agency fees collected
• Check your balance
• Adding agency fees owing to you
• Check your balance
• Delete an entry
• Search an entry

Adding agency fees collected

These are fees collected from your landlord that you haven't yet paid across from your client account to your current account.

1. Click Accounts on the main toolbar
2. Click Opening Balances on the side menu
3. Click the Client Accounts top tab
4. Click View on the relevant client account for which you want to add the Opening Balance
5. Choose your preferred Default Date for this entry
6. Within the dropdown menu, click Landlord
7. Find the landlord for who you want to add the amount, using the Search Landlords bar
8. Click Add
9. The Add opening balance for .... window opens
   1. Open the Charge Item dropdown menu and tick Administration Fee
   2. The Description can be edited if necessary
   3. Enter the Net Amount
   4. Ensure the amount in the Total Charge is correct
10. Click OK

Repeat this process until all landlord fees collected are in the list. To do this, click the x on the Search Landlords bar and search for your next landlord.

Check your balance

When you have added all the landlord fees, check your balance is correct in the bottom right corner.

1. Add the Target Amount 
2. Click Post Bank Balances 

Adding agency fees owing to you

If a landlord owes you fees which have not yet been paid to you, these can be added as part of your Opening Balance entries.

1. Click Accounts on the main toolbar
2. Click Opening Balances on the side menu
3. Click the Arrears top tab
4. Choose your preferred Default Date
5. Within the dropdown menu, click Landlord
6. Find the landlord for who you want to add the arrears amount, using the Search Landlords bar
7. Click Add
8. The Add arrears item for .... window opens
   1. Open the Charge Item dropdown menu and tick Administration Fee
   2. The Description can be edited to include the dates or name of the arrears
   3. Enter the Net Amount
   4. Ensure the amount in the Total Charge is correct
9. Click OK

Repeat this process until all landlord arrears are in the list. To do this, click the x on the Search Landlords bar and search for your next landlord. 

Check your balance

When you have added all the landlord arrears, check your landlord arrears balance is correct in the bottom right corner.

1. Add the Target Amount 
2. Click Post Arrears Charges

Delete an entry

1. If you have entered an amount incorrectly, click the relevant line to view the entry
2. Click Delete Opening Balance or Delete Arrears

Search an entry

At the end of the headed columns is a funnel symbol. 

1. Click the funnel to open a search option below each headed column