-Draino- wrote:
- quote -

Not sure you can do anything to make a recurring payment right but, in GAAP
accounting, the rent would be 'recognized' when it was due. This may also
not fit real-world cash accounting normally used by individuals.

To do what I describe, create an account for money owed to you by the
tenant. Call it 'AR - Tenant 1' or something like that. (AR=Accounts
Receivable). When the rent is due, record the income as an increase in
accounts receivable. This will not affect your checking account, but will
increase what your tenants owe you.

When your tenant makes a payment, (which you can schedule, too) post it in
your checking account as a transfer from AR-Tenant1. Amount owed by tenant
will decrease, amount in checking will increase.

As I said, this might not match your idea of how you want to recognize
income, but it provides an idea you might modify to suit your own purposes.
--
Chris Cowles
Gainesville, FL

Inline:



"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:Or0uyW5uFHA.3764[at]TK2MSFTNGP09.phx.gbl...
- quote -

Ya I always answered NO to that one anyway.

- quote -

Ya, "johnbusc's" reply is what am going to do in the future. I will also
apply that if tennant x pays exrta rent to be applied to next month's
payment.

- quote -

I hear that!. By the way, nice formula! It seems so simple to incorporate
that somehow

D

Money has no way to figure out that a series of recurring payments needs to
have the next entry adjusted upward because the one you just entered into
the register was less than scheduled. The prompt about changing future
instances can do the opposite--schedule all future instances to this lower
amount. You surely don't want to do that.

In cases like this, your only hope is to go and either edit the next
occurrence of the series to reflect the new amount they owe or schedule a
separate only once deposit for the amount they owe. This is all by hand.
Arggh.

The ability to define scheduled transaction amounts in terms of some
function of transaction history or account balance or similar using some
kind of Excel-like expression grammar (in your case, say, =900 + (Min(900 -
ThisSeries.PreviousRegisterEntry),0)) has long been on many people's wish
lists for Money. Instead we get xxx'ed out account numbers in account list
and related links to "get a great deal on home equity loans" scattered
everywhere. Go figure.

"-Draino-" <guest[at]unknown.com> wrote in message
news:OkYBC04uFHA.2312[at]TK2MSFTNGP14.phx.gbl...
- quote -

Thanks for the quick response.

I was confused reading the first post, except for the bottom part. You are
right about the YES or NO thing with this post.

Never really thought of doing what you suggest but it make sense.

Thanks again

Draino



<johnbusc[at]hotmail.com> wrote in message
news:1126965963.759783.59910[at]g43g2000cwa.googlegroups.com...
- quote -

Draino,

Sorry...

I was a bit confused on my prior response. The YES or NO I thought you
were referring to was in response to whether the payment amount should
be adjusted.

The YES or NO you were referring to was whether the partial payment in
question was a match for the recurring payment you had setup.

The correct answer to your question is YES. That way the current
payment in the recurring series will be matched. When it prompts you
whether to adjust the payment amount going forward, I would typically
answer NO.

Then I would enter a recurring payment with Frequency "ONLY ONCE" for
the balance of the current payment.

Sorry again for the confusion.

Regards,
JB

-Draino- wrote:
- quote -

The $900 tenant x still owes should be the NEXT payment in the
recurring series.

The prompt by Money for YES or NO is just Money asking if the amount
difference will continue going forward OR a one-time difference,
respectively.

As for a reminder of the balance of the current payment, you'd need to
enter a recurring payment with Frequency of "ONLY ONCE". Otherwise,
just remember it yourself and post it when the tenant pays.

Hope this helps!

Regards,
JB

I have a payment setup for some tenants.

Sometimes they only pay a partial payment on the rent. How do I adjust this
so that when a partial payment is made the reoccurring payment will adjust
it self.

Ex:

Rent is $900.00

A reoccurring payment for the 1st of the month is $900.00 from tenant x

Tennant x pays $700.00 on the first. I get a message asking if this is the
payment scheduled, if I choose yes it asks me if I want to adjust the
amount, but I don't want to do that because the rent is not paid in full and
it will look like tenant x has paid the full payment. Also I will get no
reminder in the bill payment section about the $200.00 missing dollars

If I say no then it looks like tenant x still owes the full $900.00

It seems that this most likely can't be done but just checking with anyone
who might have a suggestion.


TIA