How to Handle Rent Paid in Advance (Non-Xero & Non-Arthur bank feed user)

This article explains how to handle rent paid in advance. A perfect example of this is when a tenant pays a few months rent in advance. In the example below a tenant has paid 3 months of rent in advance, summing to £1500

To handle the fact the individual has paid the 3 months of rent in advance, we must add a "Tenancy Receipt" or a 'rent received from Tenant' transaction. 

Once you have created the receipt, you will then be able to allocate it to any future rent charges that are generated from the dropdown > 'allocate to charge'

 If the credit on the account is to be returned to the tenant then this is linked to how to refund an overpayment.