Rental Billing

Use Rental billing to create bills for tenants in rental properties, or equipment lessors.

HINT-- Rental billing handles rent payments in the Goldenseal property management software.

Rental Billing BASICS
       When to Use | Setup | Billing | Damage Deposits | Prepaid Rent
       Damage Charges | Rental Deposit Return

OTHER BILLING TYPES
       Draw Schedules | Progress Payments | Time and Materials | Allowances | Change Orders | Sales

WEBSITE INFO LINKS
       Billing Software | Property Management Software | Rental Management Software | Rental Property Software

RELATED TOPICS
       Billing commands | Billing Records | Depositing Funds | Leases | Real Estate accounts | Rental Transactions

When to use Rental Billing

Use rental billing for tenants or equipment lessors who need a written bill.

You can also use it as a quick way to create rental transactions when you receive rent payments from several tenants at once.

Rental Billing Setup

Follow these steps to set up for rental billing:

  1. Create a Customer account for the person or business who is paying you for the rental.
  2. Create Rental Payment Terms to set the billing details.
  3. Create a Lease for the rental period.

Rental Bills

To create bills for several tenants, follow these steps:

  1. Choose Billing from the Bank menu, and choose Rentals from the submenu.
  2. Double-click on each tenant with rent that is ready to bill, and turn on the items that are ready to bill now.  Click OK.
  3. Click the Create Bills button.
  4. Goldenseal creates one or more Rental Transactions to cover the rent that is due.  It also creates Billing Records with a Rental breakdown.

Enter the following information in each column of a rental billing record:

Bill-- Turn on the checkmark to bill for this item now.
Item-- Goldenseal lists each rent item for this project.
Start-- Goldenseal shows the start of each rental period.
End-- Goldenseal shows the end of each rental period.
Amount-- Goldenseal shows the amount of each rental item.
Adjustment-- You can type in any adjustments to each rental item.
Amount Due-- Goldenseal shows the amount that you are billing for in this bill.

Damage Deposits

To bill for damage deposits, key deposits and pre-paid rent, follow these steps:

  1. Choose Billing from the Bank menu, then choose Rentals from the submenu.
  2. Double-click on the tenant who has paid a deposit.
  3. Put a check mark next to each item that they are paying now. HINT: If you don't see the correct deposits or pre-paid rent, you'll need to enter them into the Lease.
  4. Continue rental billing, the same as for basic rent.

Using Pre-Paid Rent

When tenants pre-pay rent at the beginning of a lease term, enter it the same as damage deposits.

When tenants use the pre-paid rent at the end of the term, follow these steps:

  1. Choose Billing from the Bank menu, then choose Rentals from the submenu.
  2. Double-click on the tenant who is using pre-paid rent.
  3. You'll see a rental amount for the usual rent. Put a check mark next to it to include it.
  4. You'll see a line for Last Payment Used. Put a check mark next to it.
  5. Continue rental billing, the same as for basic rent. If the two amounts cancel out, you won't need to bill anything.

Damage Charges

If you charge a renter for damages, follow these steps:

  1. Choose Rental Transactions from the Income menu.
  2. Click the New button.
  3. Enter the renter, and any details about the damages.
  4. Enter Damage Charge into the Transaction Type popup field.

Rental Deposit Return

To return deposits at the end of a lease term, follow these steps:

  1. Choose Billing from the Bank menu, then choose Rentals from the submenu.
  2. Double-click on the tenant who is using pre-paid rent.
  3. Put a checkbox next to the deposit return item(s) at the end of the lease. If there are damage charges, also include them.
  4. Continue rental billing, the same as for basic rent. When you are asked for a payment method, choose Billed.
  5. Goldenseal will create a Rental Transaction for each credit and charge, and a Billing Record for the total refund (or charge).

To issue a deposit refund check, follow these steps:

  1. Choose Checking Transactions from the Bank menu, then choose the account from which you'll make payment. HINT: If you keep damages in an escrow account, choose Escrow Transactions from the Bank menu.
  2. Click the New button.
  3. Enter Renter in the Pay To field, and enter the tenant into the Account field.
  4. Enter Billing Refund into the Transaction Paid popup field.
  5. Enter the billing record into the Reference field.

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