A tenant must have no outstanding invoices before you can enter a prepayment. If the tenant has an outstanding invoice, Property Matrix applies payments to the outstanding invoice balance instead of allowing the payment to be entered as a prepayment.
Receive a Prepayment
Click Tenants from the left navigation menu.
Select the tenant who is making the prepayment.
Confirm that the tenant has no outstanding invoices.
In the Receive a Payment section on the right side of the page, select the Payment Type.
Enter the Date.
Enter a Memo, if needed.
Enter the prepayment amount in the Amount field.
Click Receive Prepayment.
Apply the Prepayment to a Scheduled Transaction
After you receive the prepayment, Property Matrix may ask if you want to apply it to the next scheduled transaction.
In the Apply Prepayment? window, select the scheduled transaction you want to apply the prepayment to.
Use the dropdown to choose the correct scheduled transaction, such as rent, parking, or another scheduled charge.
Click Yes to apply the prepayment.
Property Matrix applies the prepayment to the selected scheduled transaction.
View the Applied Prepayment
Open the tenant record.
Click the Transactions tab.
Locate the Prepayment Application transaction.
The prepayment application shows the amount applied to the scheduled transaction. The related invoice will show as Paid when the prepayment fully covers the invoice amount. If it does not fully cover the invoice amount, the invoice remains Outstanding.
Apply a Prepayment
Option 1: From Credits Available
If a tenant has available credits, you can apply the credit from the tenant’s Current tab.
Open the tenant record.
In the Receive a Payment section, click Credits Available.
In the Credits & Refund window, select Pre-payment.
Select the prepayment you want to apply.
Select the invoice line where the prepayment should be applied.
Review the Date and Amount to pay fields.
Click Apply.
The prepayment is applied to the selected invoice line.
Option 2: From the Transactions Tab
Open the tenant record.
Click the Transactions tab.
Locate the payment with a status of Partially Applied or Unapplied.
Expand the payment.
Locate the unapplied amount line.
Hover over the value under Applied To until the pencil icon appears.
Click the pencil icon.
Select the invoice or invoice line where the unapplied amount should be applied.
Click Save.
The payment is applied to the selected invoice. If only part of the payment is used, the payment remains Partially Applied. If the full amount is applied, the unapplied balance is removed.