How to Apply a credit to a lease - Zero Receipt

This article explains what a zero receipt is, when it should be used, and how to create and cancel a zero receipt.

Understanding Zero Receipts

A zero receipt is used to apply an accounts receivable credit against an accounts receivable charge without receipting any actual funds into the trust account. The receipt amount entered is $0.00, indicating that no money is being received, only allocated.

Common scenarios where a zero receipt is required include:

• Applying a bond amount to a lease charge

• Applying unallocated funds or credits to a charge

• Applying a previously raised credit against an outstanding charge

Creating a Zero Receipt

To create a zero receipt, navigate to:

Accounts Receivable > Receipts

Then complete the following steps:

1. Select a search method (e.g. Lease).

2. Set Payment Type to Direct Deposit.

3. Enter the Receipt Date and @Bank Date (typically today’s date).

4. Leave the Amount as $0.00.

5. In the Applied Amount column, select the credit by either:

   • Double-clicking the credit line, or

   • Entering a partial amount as a negative value.
     The Balance Still to Apply will update automatically.

6. Apply the credit to the relevant invoices by:

   • Double-clicking the invoice lines, or

   • Entering partial amounts across multiple invoices.
     Ensure the Balance Still to Apply displays $0.00.

7. Click Process Receipt.

Important:

Zero receipts cannot be re-printed once processed.
If a copy is required, ensure Print Receipt is ticked before clicking Process Receipt.
After processing, the receipt download link will appear at the top of the receipting screen.

Cancelling a Zero Receipt

Zero receipts are cancelled using the same process as standard cash receipts.
Before cancelling, it is recommended to note the zero receipt number and receipt date, which can be found in the Tenant Activity Report:

Leases > Tenant Activity

To cancel a zero receipt, navigate to:

Accounts Receivable > Cancel Receipts

Then follow these steps:

1. Enter the From Date and To Date range.

2. Select a search method (e.g. Lease).

3. Select the relevant Bank Account.

4. Click Search.

5. Locate the zero receipt in the search results and click Cancel Receipt.

6. Enter the Cancellation Date.

7. Enter the Reason for Cancellation.

8. Click OK to complete the cancellation.