Crediting a tenant for repairs/maintenance expenses
drkent3
Member Posts: 11
This may have already been discussed somewhere, but I cannot find a post that answers my specific question(s). I actually have two.
1) I give a $50 credit to my tenants for water in order to encourage them to keep the landscaping watered. They have the water service in their name and pay the bill in full. I am presuming that what I do is create an invoice for the full amount of the rent, then when paid (minus the $50) I split the transaction and enter a $50 discount item. Yes?
2) The tenant paid out of pocket for a tree service because I could not be at the location on the date of the service. I want to issue a credit to the tenant for the amount of the service, which can be applied to future invoices. I need to ensure that the expense is tracked for tax purposes, since the invoice for the service was sent to me. How do I create a credit for the tenant that can be applied to one or more invoices?
Comments
So, it appears after reading many comments on this board, that the issue for me is that there is no credit memo in Wave. Seems like a huge oversight, and many have made this statement.
I suppose the 'negative invoice' option will work for now, but I have yet to hear from my accountant about her take on this.
Hi @drkent3 , at this time, Wave does not have a feature which allows you to record credit memos for customers. That being said, the workaround you mentioned of including a negative line item on the invoice should help you to record the credits you wish to give to your tenants for the water and tree service.
For more information on how to do this, check out this Help Centre article.
For the time being, I appreciate you reaching out about this and please feel free to reach out again if you have any other questions!