Reallocating Income - Correcting Where Income Is Recorded

This process is used to move income to the correct place in Accounts Receivable.
No money moves in or out of the bank — you are simply fixing where the income has been recorded.

Use this when:

• Income was posted to the wrong lease

• Income was posted to the wrong account code

• Income needs to be moved between leases or properties

Where to find this

As a Trust Accountant user, go to:

Accounts Receivable > Transfer Journal
(This screen is used to reallocate income)

Step 1: Transaction Date

• Enter a date in the current accounting period

• Transfers cannot be backdated to closed periods and will appear in the current owner report

Step 2: Remove the income from the wrong place

(This is where the income is coming from)

Enter the following details:

• Property – The property the income was originally recorded against

• Lease – The lease the income is being moved from

• Account – The same account code as the original income

• Description – e.g. Reallocating income to correct lease

• From / To Dates – Relevant date range

• Gross Amount – The amount being moved

  • GST and Net amounts will auto-calculate

  • Check these match the original transaction

This step reduces the income in the incorrect location.

Step 3: Add the income to the correct place

(This is where the income is going to)

Enter the following details:

• Property – The property the income should belong to

• Lease – The lease the income is being moved to

• Account – The correct account code

• Description – e.g. Reallocating income to correct lease

• From / To Dates – Relevant date range

• Gross Amount – Enter the same amount as above

  • GST and Net amounts will auto-calculate

  • Check they are correct

This step adds the income to the correct location.

Important things to remember

• The amount removed and added must be the same

• This does not affect the bank balance

• This is for corrections only, not receipts or refunds

• Always double-check the property, lease, and account codes before processing

• Select 'Process as unallocated amounts' if you wish to transfer funds as unallocated. Using this option allows you to zero receipt against other transactions once the transfer has occurred.
• Click Process

Tip - It's easy to transfer funds between accounts of the same property. However, if you're transferring between different properties, make sure the property you are transferring from has sufficient funds to cover it.