For Console users we recommend using the following best practice. When taking the let fee and a receipting the first rent for the new tenant, the ‘Let Fee’ dissection should be used.
Sometimes we see where businesses are creating a creditor ‘payment’ to journal the let fee after the rent has been receipted. This still receipts the let fee into the letting fee creditor account, however bypasses the income statistic account for the income report.
For REST users the best practice is to take the let fee when receipting the first rent for the new tenant. In REST “[Shift] +” in the ‘other payments’ tab will do this.
Sometimes we see where businesses are creating a ‘creditor payment’ to journal the let fee after the rent has been receipted. This receipts the let fee into a creditor account, bypassing the income account.
For PropertyMe users one reason for let fees not showing can be because they are being charged to a separate supplier account rather than the agency account. Ailo will only include fees charged to the agency account.
Deleting a fee schedule for a property may also stop let fees showing against your income.
It may be caused by the way your fees are set-up in your chart of accounts - for example lease renewals being included in your letting account. This can cause the let fee income not to be captured.
In general, using non-standard chart of accounts could potentially also result in inaccuracies as it makes it more difficult to accurately identify fee types. We always recommend using the standard chart of accounts.