Propertyware Knowledge Base

Propertyware provides you the flexibility to handle Section 8 payments for multiple tenants.  You will first need to configure your Propertyware account for Section 8 payments, following the steps outlined below.  After completing this one-time setup, you will be able to create the Section 8 auto charge on tenant leases and record Section 8 payments on tenant ledgers.

 

 

Create Section 8 Rent Income Account

Note:  You must have administrative rights to create the account.  

1         Navigate to your Chart of Accounts under Setup.

2       Click on the New Account button.

3       For Account Type, select Income.

4       For Parent, select Rent.

5       For Account number, enter a number or click Auto Generate to auto generate the account number.

6       For Description, enter Section 8.

7       Accept or modify the Account Code.

8       Click the checkbox for the Rent Account.

9       Click the checkbox for Discount Account.

10   Click the Save button.

 

 

Create a Section 8 “Other Customer”

Note:  You must have administrative rights to create an “Other Customer.”  

1         Navigate to the Manage Customers section under Setup.

2       Click on the New Customer button.

3       Enter a first and last name such as Section (first name) and 8 (last name).

4       Click the Save button after completing the page.            

 

 

Create the Lease Charges

1         Navigate to the lease for the tenant receiving Section 8 payments.

2       On the Summary page, click on the Edit button.

3       Under the Auto Charges section, click on the New Auto Charge button.

4       Create a charge for the Rent account in the amount paid by the tenant. 

a.     Click the Save button after completing the Charge.

5       Click on the New Auto Charge button.

6       Create a second charge for Rent: Section 8 account in the amount paid by Section 8.

a.     Click the Save button after completing the Charge.

7       After both charges have been created, click the Save button located at the bottom or top of the Lease page.

 

Recording Section 8 Payments

1         Click on the Money In tab.

2       Click on the Summary sub-navigation bar.

3       Click on the Other Customers tab.

4       Click on the Receive Payment button.  The Receive Payment window displays.

5       For Received from, select Section 8 as the customer.

6       Enter the amount of the Section 8 payment.

7       For Account, select the Rent:Section 8 income account.

8       For location, enter a portfolio or building name, and select the appropriate portfolio or building.

9       Enter a description to help identify this Section 8 payment.

10   For Payment Type, select Section 8.

11     For Ref #, enter the check or reference number from the Section 8 payment.

12    For Deposit To, select the appropriate Open Bank Deposit.

13    Accept or modify the date that displays.

14   Click the Save button.

 

 

Reflecting a Section 8 Payment on the Tenant Ledger 

1         Navigate to the ledger for a tenant that received a Section 8 payment.

2       Click on the Refund, Discount, Adjustment button.  The Record Refund, Discount or Adjustment page displays.

3       Select Discount.

4       For Account, select Rent: Section 8.

5       For Amount, enter a negative amount of the Section 8 payment received.

6       Enter “Section 8 Payment” or any other comments to help identify the nature of the discount.

7       Accept or modify the date.

8       Click the Save button.

9       Record a $0.00 payment to apply the Charge Adjustment against the Unpaid Section 8 rent charge as follows:

a.     Click on the Record Payment button.  The Record Payment Received page displays.

b.    For Payment Type, select Other.

c.     Accept or modify the date.

d.     For Comments, enter “Apply Adjustment to Section 8 rent charge.”

e.     For Deposit To, select Undeposited.

f.       In the Unpaid Charges section, check the box for the Section 8 rent charge under the Paid? column.

g.     In the Discounts and Adjustment section, check the box for the Section 8 discount under the Apply? column.

h.     Verify that the Amount Received shows $0.00.

i.        Click the Save button.

 

 

Recouping Rescinded Section 8 Payments

1         Navigate to the tenant ledger for the tenant whose Section 8 payment requires adjusting.

2       Click on the One-Time Charge button.

3       For Account, select the Rent: Section 8 account.

4       For Amount, enter the amount of the adjustment indicated on the Section 8 payment register.

5       Enter the date of the Section 8 payment.

6       For Comments, enter “Section 8 Adjustment” or any other comments to identify this adjustment.

7       Click the Save button.