Buildium: Rent Recording, Deposit, Unpaid Rent
With the rent collected from the homes and the accompanying Rent Collection Sheets, open Buildium to record rents. Access the Shortcuts menu to the right of the Communications tab and select Receive Tenant Payment from the list. Input the date, payment amount, payment method, and notes about the payment, and apply to the appropriate balance, typically “Rent Income”. Select “E-mail Receipt” and “Save Payment”. The rent is now recorded and will show up as undeposited funds awaiting deposit into the bank account.
After recording the rent payments, record the deposit into the bank account.
- Selecting Banking from the Accounting menu
- Access the appropriate bank account; you should notice undeposited funds for that bank account
- Select Record Deposit from the menu, and check off all items being deposited, and the date of deposit
- Record the deposit and verify that it posted correctly on the bank account ledger page
After recording and depositing all paid rent, we can look to see what rent is left unpaid.
- Rentals menu, visit Unpaid Balances
- Go through the list and verify that each Lease Ledger is true and correct
- Communicate with the House Manager what is left outstanding
- This can easily be done by screenshotting the lease ledger and sending via WhatsApp