Explain a rental income refund
This article describes how to explain rental income that has been refunded to a tenant.
Please note:
- If you have an unincorporated landlord account and have refunded rental income to one of your tenants, you'll need to explain the bank transaction as 'Type > Rental Income Refund' and allocate it to the relevant property.
- You’ll need level 7 access or above to your FreeAgent account to follow the steps below.
If you have received rental income from one of your tenants, find out how to record rental income for a property.
Navigate to the 'Banking' tab at the top of the screen and select 'Bank Accounts' from the drop-down menu.
Choose the relevant bank account from the list and select the transaction that relates to the rental income refund.
Select ‘Rental Income Refund’ from the ‘Type’ drop-down menu and select the relevant property from the ‘Properties’ drop-down menu.
Select ‘Explain transaction’ to complete the process.