The steps below outline how you can transfer a credit from one landlord payment group to another. For example, a landlord may wish you to use the income from one payment group to pay for a maintenance issue on another of their payment groups.
Transferring credit from one payment group to another
- Click Accounts on the main toolbar
- Click Opening Balances on the side menu
- Click the Client Accounts top tab
- Click View on the relevant client account
- In the dropdown menu, click Landlord Retention
- Find the landlord using the Search Landlords bar and click Add
- The Add Retention window opens. Select the payment group with funds available
- Enter the amount to be transferred prefixed with a minus sign, i.e. £-250.00
- Click OK
- Click Add
- The Add Retention window opens. Select the payment group that requires the funds
- Enter the amount to be transferred as a positive number, i.e. £250.00
- Click OK
- Click Post Bank Balances
When you next perform a bank reconciliation, you will see these two transactions and can select them both for reconciliation as they cancel each other out; i.e. it does not affect the client account bank balance in Alto.
By doing this, the sum will have been removed from the balance of the first payment group and has now been added to the balance of the second payment group where you will now find that you can reimburse the supplier's invoice, now that the funds are available.