We know owners and managers run into a lot of different situations and sometimes it is easier to simply record your rent payments in STRATAFOLIO rather than QuickBooks. Since STRATAFOLIO syncs with your QuickBooks account, once you add a payment to one account (either QuickBooks or STRATAFOLIO), it will sync to the other.
One advantage of adding payments through STRATAFOLIO is that all of your QuickBooks accounts are linked in one place. In STRATAFOLIO it is quick and easy to switch between separate QuickBooks accounts to add payments. In fact, in STRATAFOLIO there is no “switching” since all invoices show up in one location under the Rent Collection tab.
Receiving payments is a simple process within STRATAFOLIO.
Go to the Rent Collection Tab
- The first step is to select the outstanding invoice you want to add the payment to.
- Next, you will select, Add Payments.
Add the Payment Details
- Select the Date the payment was received.
- Identify the Type of payment received: Cash, Check, ACH, or Other.
- Add any Reference to help you track the payment received, such as check number.
- Select the invoices that were paid and the amount paid. If the amount received was different than the balance, you will need to adjust the Amount Received.
- Select Add Payments. QuickBooks and STRATAFOLIO will sync on the next scheduled sync for QuickBooks Desktop or within minutes with QuickBooks Online.
Would you like to learn more about what STRATAFOLIO can do to help you manage your Commercial Real Estate Properties? Contact us for a demo, we’d love to show you all that STRATAFOLIO has to offer!
If you have any suggestions about what kinds of functionality you would like to learn more about STRATAFOLIO, let us know. Please send us an email at [email protected]