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Reconciling letting agent statement that includes costs

Posted: Sun May 12, 2019 1:01 am
by lucyscrann
Hi, wonder if someone can help please!

We have a number of fully serviced /managed properties through different letting agents.

On their invoices they will include any incurred costs such as plumbers, information boards etc.

They deduct these costs from the rental income - so we will only ever receive the rental income less costs incurred. To illustrate

Rental income £1040
Management fees £133
Costs - 35.13
Monies paid to us - £872.87

When I view the agency statements and try to reconcile with the bank statements - it is only showing the rental income less management or admin fees.

What is the best thing to do in this position? How can I include the associated costs on the statements? Or is there a better way of doing this?

Many thanks in advance

Re: Reconciling letting agent statement that includes costs

Posted: Sun Nov 03, 2019 10:53 am
by ak45_ukhot
Not sure if you have solved but I had same issue, what you need to do is create a liability account for your agent. Then create a payment in tenant manager and it will ask you to select which invoice the payment is to come from. So for example say you received £450 in October and you incurred a £55 expense you would allocate the payment as being made from the tenant on your behalf as its coming out of the rental income.

This way it will only show you received £395 in landlord vision, see link below although I did not use misposting I just created an account for the agents expenses as a liability it works same way... ... f-landlord