During initial setup, you enter the tenant’s info and lease start date. Then Stessa creates a Balance due for every month in the lease. What is the best way to get rid of that balance without immediately creating an accounting mess? I have 34 units and some tenants are a little behind and others are prepaid from a small amount to several months. Shouldn’t there be a way to pick a start date, like March 1 2022 and enter opening balances or credits & start from there? Older rental income in the bank transactions is “Net Rent” with expenses already removed, from a previous incompetent property manager, so there is no simply applying that income. Some small errors may be acceptable but the rent due for tenants needs to be exact. Unless I’m missing something, there is next to no information about initial setup for an already active property. I’m really hoping for clean books and not a mindboggling accounting nightmare. It would be much easier to start using Stessa from day one, but that’s rarely the case.
3 hours of reading & I think I’ve found it! Support—> Help articles—> Tenant Ledger: Track Charges, Payments & Balances by Tenancy
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@maxxkent Sorry to hear it took you a while to find the answers. Yes, the tenant ledger start date can be adjusted via “More > Adjust Balance” to reflect whatever time period suits your needs.
More info here: