Understanding Manually Recorded Payments in TenantCloud
Manually recorded payments in TenantCloud represent transactions that did not go through the platform's payment system. Instead, these payments are logged manually by the user or their team to reflect payments made outside of TenantCloud—for instance, cash, check, or external bank transfers. Below, we explain the implications, how to differentiate such payments from those processed through TenantCloud, and tips for accurate bookkeeping.
What Does It Mean if a Payment is Manually Recorded?
A "manually recorded payment" indicates that the transaction was not processed through TenantCloud’s built-in payment system. These entries are typically created to document payments that occur through external methods. Key points about manually recorded payments: Additionally, it is crucial to verify manually recorded payments by requesting proof of payment from tenants, such as bank transfer confirmations, payment receipts, or screenshots of successful transactions.
No Funds Processed via TenantCloud: Since these payments are not processed through TenantCloud, no actual funds are moved by the platform.
No Deposits Triggered: Manually recorded payments will not generate bank deposits from TenantCloud. This is because they are only recorded for bookkeeping purposes.
Verification Needed: Requesting tenant documentation such as receipts or transfer confirmations ensures the accuracy of manually recorded payments.
Differentiating Manually Recorded and TenantCloud-Processed Payments
To distinguish whether a payment was manually recorded or processed through TenantCloud, check the following:
Navigate to Accounting → Transactions in TenantCloud.
Open the specific payment entry.
Look for a system-generated Payment ID under the Payments & Activity section: - Payments processed through TenantCloud will include a system-generated Payment ID. - Manually recorded payments will lack a Payment ID but may have a manually selected payment method label (e.g., "ACH").
When recording a manual payment, the payment method (such as ACH) can be selected for your own bookkeeping. However, this is purely informational and does not reflect actual transaction processing by the platform. It is important to note that marking an invoice as "Paid" in TenantCloud solely updates the record for tracking purposes and does not initiate any actual financial transaction. Always use the "Pay Online" option for processing payments through TenantCloud.
How to Ensure Accurate Bookkeeping
To avoid confusion between manually recorded payments and TenantCloud-processed payments, always:
Label manual payments accurately with the correct method (cash, check, ACH, etc.).
Use the "Mark as Paid" function on invoices to record non-TenantCloud payments.
Regularly verify all transactions in the Transactions view to ensure consistency.
Validate all external payments by requesting acceptable proof such as bank confirmations or receipts before updating TenantCloud records.
Reconcile financial transactions with manual entries to maintain accurate and consistent records.
Key Takeaways
Manually recorded payments are used for transactions outside of TenantCloud’s payment system.
Such payments do not involve actual processing through TenantCloud and will not generate bank deposits.
Use the Accounting → Transactions tool to differentiate processed and manually entered payments.
Accuracy in labeling and recording manual payments ensures clarity in bookkeeping.
Verifying manually recorded payments with documentation ensures accuracy and avoids disputes.
Marking invoices as "Paid" is only for record-keeping and does not represent actual financial transactions.
By following these guidelines, landlords and property managers can maintain accurate payment records and avoid confusion when reconciling their transactions.
Related Topics
Adjusting Rent Amounts on Invoices
Tracking ACH Payments in TenantCloud