Buttons Act as Hyperlinks
CheckRight
Buttons Act as Hyperlinks
From this form you can enter bills to be paid and print checks. You can track multiple checking accounts, visa accounts and others such as savings accounts. You can set up accounts for each building, or owner. A Property Management Company may choose to have one account for all properties. Checks that you print from the Check Form will also appear on the Expense Form for the unit or building that they are associated with, and will be reflected in Expense and Profit and Loss reports.
Checks can be allocated to more than one building. For example, you may want to pay a plumber one check for work on 3 different units. You can also divide a check into multiple expenses categories, each of which can be associated with a different building. An example of a check that may be divided between buildings and expense categories would be a check to a mortgage company for more than one property. You can allocate principal and interest that for each of any number of different properties. In this way you will have detailed expense records and accurate reporting on each building and expense category.
To set up your accounts |
Close all forms and go to File on the Menu Bar. Choose Check Writing Set Up and Set Up Accounts. Now enter information about each account. Push the new button to clear the form and enter information about another account. Close the Set Up Accounts Form and click on the Checks Icon to open the Checks Form. You will be prompted to enter a beginning balance for the account. You can change the beginning balance at any time by simply typing over it on the Check Register. | |
To enter bills to be paid later |
Whether entering bills from the Check Register, or the Write Checks Form, create checks with "Print" in the Num column on the Check Register. In the date column, put in the date the bill is due. When you are ready to pay bills, choose the Print Checks option. You will be able to choose from the list of previously entered bills. Just select the ones you want to pay today. As they are printed, the date of the check will default to the day the check was actually printed (the day the bill was paid). | |
To move checks listed on the Expense From to the Check Register |
When you begin using the Check Writing feature, you may have checks that you entered on the Expense Form, that you want to move into one or more checking accounts. Once you purchase Check Writing, all expenses should be entered in the check register, NOT the Expense Form. To move these expenses, first open both the Expense Form and the Check Register. On the Expense Form, highlight the checks that you want to move. Highlight them by clicking to the far left of the line (in the gray area) that the first one is on, and then drag the mouse to highlight a section. After the checks are highlighted, right click on the highlighted section, and a pile of papers will appear. Drag (while keeping the mouse button down), to the tab (top of the folder) of the checking account you want to drag this check to. There will be a message verifying and asking if you want to move these expenses to a particular checking account. | |
Writing Checks from the Check Register
Checks can be written by typing them in directly on the Check Register. This is the fastest method for checks that have no splits. Detailed checks can also be individually filled out by pressing the Write Checks button. Checks written in both ways will show up on the Check Register.
Checks and double window envelopes compatible with RentRight Property Management Software can be purchased by calling 1-800-RENT-065.
The Building, Category, Depreciation and Description columns on the Check Register are associated with Expenses, not with the check itself.
Some checks on the Check Register will be grayed out. This means that this is a split check that can not be changed from the Check Register. You must highlight it and choose Edit Checks to make changes on grayed out lines.
The Check Register can be resized. First size the grid the way you want by widening some columns and narrowing others. See Data Grids for changing the grid. Once you have the grid the way that you like it, go to the Menu Bar: Options and choose Save Grid Width. The check mark will indicate if Save Grid Width mode is on. Your settings will be remembered. To return to the standard settings, click again on Save Grid Widths to uncheck it.
You can write simple checks (that have no splits) directly on the register. Fill in the appropriate columns.
"Num" column |
Click in this field to choose from a drop down list. If this is a check that you want to print, choose "Print Check". This will then put this entry in a list of checks To Be Printed. You can also choose "ATM" for a bank machine transaction, "Deposit" if it is a deposit, or "Transfer" if it is a transfer deposit from another account. (ATM, and Transfer are labels, and no special handling of them exists.) |
"Date" column |
Works the same as date fields throughout RentRight. You can enter today's date quickly by pressing the Control key and the D key at the same time, or the date the bill is due. |
"Payee" column |
You will be able to choose from a list of previously entered Payees. If you want to add a new Payee, you must enter this check from the Write Checks Form. |
"Building" column |
You can choose the building or unit that you want the expense from this check to be associated with. This drop down list consists of the buildings and units that you previously entered on the Building Form. If you do not choose a particular building, the expense will go to All Properties. |
"Split" column |
This will show the number of splits this check has. When a check is split, the split column has a drop down box that will allow you to view your split information without going into the Write Checks Form. If you want to create a split check you must do this from the Write Checks Form. |
"C" column |
This is the cleared column. If you double click on this column, it rotates between "X" which means that the check has been cleared, "R", which means that the check has been marked cleared in a Reconciliation that has been postponed, and " which means that the check has not been cleared. |
"Category" column |
Choose from a list of income and expense categories. Checks represent expenses for your company, and you should choose expense categories. Deposits are income and with deposits you should choose an income category. You can change and add categories if you go to File/Chart of Accounts on the Menu Bar. |
"Dpr" column |
You can choose whether this expense will be listed on reports of expenses being depreciated. |
"Payment and Deposit" columns |
Put in the dollar amount of either the payment or the deposit in the appropriate column. These columns are mutually exclusive. If you enter an amount in one, the other will be blanked out automatically. |
"Balance" column |
The running balance will be calculated for you in this column. If you put items in a non-chronological date order, you must close this Check Register Form and re-open it for the balance to calculate correctly. You can not edit this field. |
"Description" column |
Here you can type any description about the deposit or check. |
Writing Checks from the Write Checks Form
More detailed checks must be written from this form. You can write split checks (for more than one building and/or expense category). You can also fill in details about new Payees, including the mailing address that you want printed on the check.
To fill in The date field on the Write Checks Form |
The current date will be filled in on the check. Change the date as all dates are changed. If you are entering bills that you are going to pay (print) in the future, you can put the date the bill is due on the check. Then when the check is actually printed, the print date will replace the date you fill in now. |
To fill in the Pay To section from the Write Checks Form |
After opening the Write Checks form, you can click on the down arrow to view a list of previously entered contractors, payees and owners. You can scroll down this alphabetical list to find the payee you want. Single click on the Payee and the name will go into the Pay To area of the check. If the payee's address is known, it will appear in the address section of the check below. If this is a new Payee, simply type in the payee's name and address in the fields provided. Click the check box if you want the payee to show up in the drop down box in the future. |
To fill in the voucher section from the Write Checks Form |
The bottom section of the check works as a Data Grid. Each line of the Data Grid represents a different portion of the check total. Each portion is an expense that can be associated with different units, jobs etc. For example, say you want to write a check to Affordable Home Repairs for work on three different units for a total of $300.00. You can break up the total on the Data Grid so that each portion of the total will go to the expense record for each of the three units. First push the down arrow by the "building description" to choose from the list of buildings and units you previously entered on the BUILDING FORM. Single click on the building or unit to select it. Then a building description will be added to the description column. Next push the down arrow by the "Cat." column to choose the expense category this portion of the check should be assigned to. These categories can be changed by going to File/Chart of Accounts. In the "description" column, type in any description, memo or work order # you want to appear on the EXPENSE FORM. Now enter the dollar amount that you want this portion of the check to go to. Continue to enter each portion of the check until they are all completed. Check the bottom of the check to see if you have correctly assigned all of the money from this check. If correct, the word "Assigned" will appear. If incorrect, the word "Unassigned" will appear along with the dollar amount difference between the amount that you made the check out for and the total of all split sections of the check. If the split sections are correctly assigned, and you want to change the check amount make corrections. |
To edit a check |
Find the check you want to edit on the Check Register. Click on the line the check is on to highlight it and then press the Edit Check button on the bottom of the check register. Make changes as needed by typing over the areas you want to change. Press Done to save the changes and close the Edit Check Form. Push the "Adjust Check" button if you want the check to be adjusted to the total of all expenses in the voucher grid. |
To delete a check |
If you are in the Check Register, highlight the line the check is on by clicking to the far left of that line. See the section titled "Using Data Grids" for more detailed directions. After the line is highlighted, press the key on your keyboard. If you want to delete a check directly from the Write Checks form, find the check you want, and click on the Delete button on the right side of the form. There is also a Delete button on the Edit Checks Form. |
To print checks |
Open the account that you want to print checks from. Now, click on the Print Checks button on the bottom of the Check Register. In the box that pops up you will see a list of all un-printed checks in this account. You can select the checks that you want to print at this time. The checks that you highlight will be printed; the rest can be printed at a later time. To highlight the entire list, click on the button "All". To un-highlight the entire list, click the button "None". Clicking on the button "Reverse" will cause highlighted checks to be un-highlighted and vice versa. This is useful if you want to print all but one check. You can first highlight the one check you do not want to print, by clicking on it, then click the "Reverse" button and then all checks will be highlighted except the one you chose. After you have selected the checks that you want to print, type in the first check number from the series that you are putting into the printer. Put the checks into the printer, and select the printer from the drop down printer list. Click on the done button. After the checks print, check to see if the printing was correct. If so, answer yes in the box that pops up. If not, put in the check number that printed incorrectly that you want to reprint. Checks compatible with RentRight Property Management Software can be purchased by calling 1-800-RENT-065. | |
To view your list of unprinted checks |
Open the checking account that you want to view the unprinted checks from. Then click on the Print Checks button on the bottom of the Check Register. The list of unprinted checks in this account will appear in a list. | |
To reconcile an account |
Open the account you want to reconcile, by clicking on the tab for that account. Click on the Reconcile button on the bottom of the Check Register. At the top of the form that pops up, you need to enter the Beginning Balance and Ending Balance from your bank statement. After you reconcile the first time, the beginning balance will be filled in for you for your convenience. (This number comes from the previous statement's ending balance). Make sure to check that these numbers corresponds to the statement from your bank. Now enter any Service Charges. If there is more than one fee, you must add them together and enter one number. (Later you can go to Edit Splits Form to break down the Service Fee transaction into multiple expenses if you want). Fill in the date of any service charges or interest payment. To the right, choose the account for the interest and the bank fees so that these will show as expenses and income. You will see a list of all un-cleared deposits and checks in separate boxes. If you want to view the boxes vertically, click the button titled "Vertical". Now you can click on the individual deposits and checks to mark them as cleared, or use the buttons to the right to "Mark All" or "Mark None" of the deposits and/or checks as cleared. You should clear those transactions that are listed in your bank statement. When you are finished, the balance "Difference" at the bottom of the Reconcile Form should be zero. If it is not, go back to check for inconsistent check amounts or incorrectly entered beginning or ending balances from the statement. Also check that you did not miss a bank statement since the last time you reconciled. Click on "Done" when you are finished with reconciling. You can choose to make an adjusting entry at this time if the balance is not correct. |
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To edit the payee list |
The payee list includes all payees you have typed into the EXPENSE FORM or CHECK FORM, contractors from the CONTRACTOR FORM and owners listed on the Owner Form. To add, change or delete payee names, go to Menu Bar: Edit. Click and highlight "Payee". A Data Grid will appear with the list of payees. Edit the list the same way as all data grids. To close the payee list, return to Menu Bar: Edit and highlight "Payee". |
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