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Unit Ledger - Creating Invoices & Payments Video Guide

 

Tip: You can navigate to specific sections in the video by selecting the Chapters icon.

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Learning Objectives:

1. Summarize how to create invoices and recurring payments.

2. Describe how to add payments.

3. Explain how to create credit memos.

4. Recall how to run statement reports.

 

 

Video Script 

Welcome to the Unit Ledger: Creating Invoices & Payments overview. In this video we will demonstrate how to create invoices, add payments, and issue credit memos.

To get started, select Unit Ledger from the main menu. This will open the unit ledger dashboard where you can view balances and transactions for your building. Ensure the applicable administrative group permissions are enabled to access the unit ledger feature.

On the unit ledger dashboard, you will see the total outstanding balance for your building, the total payments collected, and the total number of units with past due payments. The unit ledger includes all the units in your building and lists the Owners, Residents, and Renters associated with each unit.

By default, the unit ledger is sorted by balance with the largest outstanding balance at the top. You can sort the ledger by unit, status, or balance. You can also conduct an all-text keyword search of the unit ledger using the search bar, as well as filter the ledger by balance type.

An open balance means payment is required from the unit, but the invoice deadline has not passed. A zero balance means there are no outstanding payments or credits for the unit. An overdue balance means an invoice deadline was missed by the unit. And a negative balance means a credit was issued to the unit, perhaps for a duplicate payment.

The actions column provides quick access to the action associated with the balance type. For example, if the balance is open, the recommended action is to receive payment. These actions can also be accessed from the unit transactions page. To view the transactions for a unit, click on the unit number. 

You will then see the open and overdue balance for the unit, as well as a list of transactions with the most recent transaction on top. From the Options menu you can perform several actions: Create Invoice, Create Payment, Create Credit Memo, and Statement Reports.

Select Create Invoice, you can assign an invoice to the unit. Then, update the Invoice Date, Due Date and Terms as needed.  Next, select a charge type from the drop-down menu. This will automatically populate the remaining invoice fields. To add an additional charge, select Add New Charge.

If applicable, enter a message to accompany the invoice. Once completed, click Save and Send to create the invoice and send it to the unit residents. Save and Close to create the invoice but not notify the unit residents. Or Save and Share to create the invoice and generate a link that can be manually shared.

You will now see the new invoice on the unit transactions list. To review an invoice, click on the invoice name. You can then add or update the message attached to the invoice, void the invoice, or add a payment for the invoice.

If you select Create Payment, you can log a payment made by the unit residents. First, select the Payment Date and Payment Method. Next, enter the payment Reference Number and select the bank account the payment was made to. Then, select the transaction the payment was for. This will automatically populate the Amount Received field. If you did not receive the full payment, manually enter the appropriate amount. Once completed, click Save and Send to add the payment and notify the resident the payment was received. You will now see the payment on the unit transactions list and the status of the corresponding invoice will be changed to Paid.

If you select Create Credit Memo, you can credit the unit for an excess payment. Select the Credit Memo Date and Charge Type. Like before, the remaining fields will be automatically populated. If applicable, add a message to the credit memo. Once completed, click Save and Send to create the credit memo and notify the unit residents or Save and Close to create the credit memo but not notify the unit residents. You will now see the credit memo on the unit transactions list. To review a credit memo, click on the credit memo name. You can then add or update the message displayed on the credit memo as needed.

If you select Statements Report, you can run a custom report of the unit’s transactions. Select the desired Start Date and End Date for the report and click Run Report. You will then see a list of transactions from that time period and can download a PDF of the report to your device. 

This concludes the Unit Ledger: Creating Invoices & Payments overview. For more information on the Unit Ledger feature, please refer to our user guides.

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