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 Renhttps://stratafolio.com/knowledge/the-rent-collection-page-in-stratafolio/t 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.
Want to learn more?Would you like to learn more about what STRATAFOLIO can do to help you manage your Commercial Real Estate Properties? Watch our prerecorded 10-minute demo to learn how we can reduce your time and effort by 80%.
Do you want to talk to us directly about how we can help your organization-specific needs? Schedule a 1:1 demo tailored specifically to your organization’s individual goals and needs.