How can I add a float or retain all on a Landlords account?

Zenya Allen
Zenya Allen
  • Updated

The steps below show you how you can retain a set amount as a float or retain all money for your Landlord.

You're able to:

  • Receive money from a Landlord, then retain as a float and use for future expenses
  • Withhold money from Landlord income and retain an amount for future expenses
  • Retain all Landlords money, such as if they are saving for a large repair or they don't want to receive any funds
  • Pay a Contractor from retained money

In each of the above instances, a Landlord Payment statement can be provided to your Landlord.

This article includes: 

Receipting float money from your Landlord

If payment is being made from your Landlord to hold as retained money, you first need to create an Invoice in the Landlord Information as Miscellaneous, then receipt the money in the Landlord Receipt.
For more information on How do I receipt monies from a landlord, click here

After the money is receipted onto the Landlord, you will need to Retain Landlord money for a float, as below, otherwise the money could be paid back to them the next time you make a Landlord Payment.

Withhold float money from your Landlords income

If your Landlord doesn't send you money to hold as a float but has confirmed they would like you to withhold float money from the next rental income, you can go straight to Retain Landlord money for a float, as below.

Retain Landlord money for a float

  1. Double click Landlords from the side menu
  2. Search for the relevant Landlord using Search Text by Name, Code or Status
    1. Alternatively, find the Landlord using Additional Options from the dropdown menu
    2. Or select a Branch if multi branch is set up on your CFPwinMan
  3. Click on the Landlord
  4. Click the Property Accounts tab. Use the black arrows at the end of the tabs to move along tabs
    1. Retention - Add an amount which you want to retain
  5. Click the disk icon, Save this record, on the toolbar

Each time float money is used, the next time rent is received, the amount of float is topped up to the original amount.

On the Landlord Payment, the Retention amount will show in the Balance Carried Forward. This amount can be used by typing a reduced amount over it, to use money for an expense or other debit item.

mceclip1.png

Retain All Landlord money

The Retain All tickbox is located in the Landlord Information

  1. Double click Landlords from the side menu
  2. Search for the relevant Landlord using Search Text by Name, Code or Status
    1. Alternatively, find the Landlord using Additional Options from the dropdown menu
    2. Or select a Branch if multi branch is set up on your CFPwinMan
  3. Click on the Landlord
  4. Click the Property Accounts tab. Use the black arrows at the end of the tabs to move along
    1. Retain All - Tick to retain all money across all properties you have linked to this Landlord
  5. Click the disk icon, Save this record, on the toolbar

If Retain All is selected, you can still produce a Landlord Payment statement detailing the income and expenses. The statement will show a Balance Carried Forward and a zero Total Payable.

mceclip2.png

 Note

The retention is not available per individual property, though you can either retain an amount or retain all on an individual property at the time of producing a Landlord Payment. A Brought Forward Balance will show the next time you create a Landlord Payment and will appear in Total Payable
For more information on How do I pay a Landlord, click here

Pay a Contractor from Landlord retention

Landlord retention is a brought forward balance from the previous statement. This could be carried forward as a one off, or, set up as a permanent float.
For more information on How can I pay a Contractor from a Landlord retention, click here