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Letting Agents - Recording Payments to the agent from the tenant and from the agent to the landlord

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Overview: You need to record the payment that the tenant made to the agent and write it to an agent account rather than a statement (if you are used to Legacy Landlord Vision). Fees are added to the account and any additional expenses incurred from the agent recorded in Expenses > Bills and set to the agent account.

To reconcile the payment you received from the agent, record a transfer from the agent account to the bank account. The balance on the agent account should be either zero, or the amount they are holding

Firstly add the agent account to your system -
To do this, navigate to Banking > Accounts > Green + > Add Agent Account 

Complete all fields
Letting agent
- Name of the Agent
Account Name
- This is the name of the agent account you are adding, you will select this account when adding payments Fee - The fee the agent charges
- is there VAT?
this is not mandatory but you may like to add one for your reference
- If there is more than one fee
Opening balance
- is there an opening balance on this account? if there is enter the date of the balance and the amount SAVE 

How to add an agent payment
(Tenant to Letting Agent)

Navigate to Income > Payments > Green + >
- Select the Tenant
- Date of the payments
- Gross rental amount
Paid to
- Select the Agent Account you added
 or if you are adding a few payments at once - SAVE AND ADD MORE
*Make Sure the payment amount is the Gross rent amount. The fees are taken off automatically when added to the agent account. A Bill is automatically added for the fees in Expenses > Bills 

If there are any additional expenses (fees) then add these via Expenses > Bills > select the Agent account you added

Recording the Payment from the Agent (Agent to Landlord)

Navigate to Banking > Transfers > Add Transfer
- Date they paid you
- Amount they paid you
From Account
-  Select the Agent Account you added
To Account
- Select the bank account the agent paid in to
The remaining fields are not mandatory but may be useful for your administration

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