Removing a property expense

If a charge was added as an expense on a property, you're able to reverse it. This could be for a suppliers invoice which has been entered incorrectly, or where an expense is no longer needed.   

This article includes: 

Remove an expense not yet raised

  1. Click Property on the main toolbar
  2. Select the relevant property from Recent & Favourite Properties
    1.  Alternatively, find the property using the Search Properties bar in the top right
  3. Click Actions 
  4. Within the dropdown menu, click Charge
  5. Click Edit on the line of the charge you want to remove
  6. Click Delete Charge

The charge will not appear on a landlord statement as it was removed before it was raised.

Remove a raised expense

Removing a raised property expense is created by adding a negative charge in the same way it was first added.  

  1. Click Property on the main toolbar
  2. Select the relevant property from Recent & Favourite Properties
    1.  Alternatively, find the property using the Search Properties bar in the top right
  3. Click Actions 
  4. Within the dropdown menu, click Charge
  5. Click Add Charge
  6. The Add Charge for window opens
    1. Charge Date - Edit this (if required) to the date which the expense charge is due
    2. Frequency - Leave as Single 
    3. Charge Item - Click Expense and then tick the same option as when the first charge was added
    4. Description - Edit this so that it represents a description of the reversed expense
    5. Net Amount - Enter a minus (-) in front of the amount you are reversing
    6. Supplier - Search for and select the supplier to whom the expense is payable
    7. Suppliers Reference - Add the supplier's invoice number (if available)
  7. Click OK

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Raise a negative expense

  1. Tick Raise Now next to the charge you have created
  2. Click Raise Selected

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The reversal is not yet complete. The supplier contra entry must be updated before the landlord statement appears with both the expense and expense reversal. 

Update suppliers remittance advice

 Note

If your suppliers preferred delivery method is email, they will receive a remittance advice showing the credit and debit of the incorrect entry. To avoid this, follow steps 1 to 4 below

  1. Click Contacts on the main toolbar
  2. Search for and select the supplier for which the reversal was created 
  3. Click Contact on the side menu
  4. In the Contact top tab, within the Account/Work Order Delivery Method section, untick Email and tick Print. If email is ticked, a remittance will be sent to your supplier
  5. Click Actions
  6. Within the dropdown menu, click Payment
  7. Click to Include both the initial expense and the reversal expense. Net Payable is zero
  8. Click Update
  9. Return to the Contact top tab, and within the Account/Work Order Delivery Method section, tick Email and untick Print

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A record is saved to the suppliers Timeline and it will also be recorded from within Transactions, also on the side menu.

Update the landlord's statement

The reversal is not yet complete. The landlords contra entry must be updated to remove both the expense and expense reversal from their statement. 

 Note

If your landlord's preferred delivery method is email, they will receive a landlord statement showing the credit and debit of the incorrect entry. To avoid this, follow steps 1 - 4 below

  1. Click Contacts on the main toolbar
  2. Search for and select the landlord for which the reversal was created 
  3. Click Contact on the side menu
  4. In the Contact top tab, within the Account/Work Order Delivery Method section, untick Email and tick Print. If email is ticked, a statement will be sent to your landlord
  5. Click Actions
  6. Within the dropdown menu, click Payment
  7. Click to Include both the initial expense and the reversal expense. Total Payable is zero
  8. Click Update
  9. Return to the Contact top tab, and within the Account/Work Order Delivery Method section, tick Email and untick Print

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A record is saved to the landlords Timeline and it will also be recorded from within Transactions, also on the side menu.

 Warning

Each time a statement is generated, the next statement number is automatically applied. If after updating a reversal statement you want to change the statement number back to your landlord's next consecutive number, follow the steps below on updating a statement number

Updating a statement number

  1. Click Contacts on the main toolbar
  2. Search for and select the landlord for which the reversal was created 
  3. Click Contact on the side menu
  4. Click the Payment Groups top tab
  5. Locate the Payment Group for the corresponding property and click on the Cog
  6. Edit the Next Statement No. back to the previous number in the sequence
  7. Click Save

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