In this video you will find out how to log cash payments manually on Hammock’s Platform.
Whether it’s income or expenses, making sure your cash payments reflect on your statements is essential.
There are different ways to easily record such transactions on Hammock’s Dashboard.
1) How to mark rental income as ‘Paid’?
Go to the ‘Tenancies’ tab.
Choose your ‘Tenant’. (We will select Robert Green as a tenant for this example).
Once you click on the ‘Tenant’ tab, the next screen will bring up ‘Rent Transactions’ history.
Robert has a missing payment of £1450.42 on the 20th of June.
Select ‘Actions’, which will bring up the new screen.
Click ‘Mark as Paid’, enter the ‘Amount’ and hit ‘Save’.
This action should only be used if there is no actual bank transaction and if you have just been paid in cash.
It will then feed through as ‘Manual’ transaction rather than a bank payment.
2) How to Add other income and expenses, including recurring payments?
click on ‘Transactions’ tab at the top of the dashboard.
Scroll down to ‘Transactions’ and select ‘Add transaction manually’ on the right hand side of the page.
Choose ‘Income’ or ‘Expenses’.
Create a ‘Name’ for your expense, i.e. ‘New keys’.
Add the ‘Date’ of the payment and enter the ‘Amount’.
If it is a recurring expense, such as monthly insurance payments you can select this option and add your start date, end date and frequency.
Select your ‘Category’. In our example, we have used ‘Maintenance’ and ‘Replacement of Items’.
Choose a ‘Property’ to link the transaction to.
You will now be redirected back to the transactions history screen, where the payment you have just entered will appear as a ‘Manual’ transaction.