Good record keeping is essential for any business. As a landlord, it's necessary to keep receipts on hand to prove monthly payments, security deposits and other amounts pertaining to tenant fees or expenses, especially in the event of a landlord/tenant dispute. It's easy to create a tracking system for receipts that you can back up electronically, or on paper with a few basic steps.
- Skill level:
Things you need
- Microsoft Word or similar program
Open a word processing program or spreadsheet program on your computer such as Microsoft Word or Microsoft Excel. Select a program based on your personal taste and familiarity with the selected program. This will give you a platform for an easy to use receipt template.
Select the "Create Tables" tool from the "Insert" menu. Create a table with three columns and four rows.
In the first column, type the heading "Name and Address." When filling out the receipt, this information is the name and address of the tenant.
Title the second column "Date." Fill in the date that the rent was paid.
Create a rubric for the third column titled, "Method Of Payment". In this section, you will fill in how the tenant paid the rent, whether it be cash, check or money order. Make sure to note the check number or money order used when filling out this section.
In the second row, first column, title the header, "Amount". In this section, put the amount the tenant is paying in rent.
Place a signature line in the same row, second column. This signature line is for the landlord to sign off that he accepted the rent payment.
Merge the columns into one for the third row. Make the header of that column "Memo". This is the portion used to write in if any deductions or additions were made to the amount of the rent, or any other pertinent information for that payment. Underneath the header, in the fourth row, merge the columns into one, and use this space to type any changes or adjustments to rent for the memo section.
Adjust the row width and height by dragging the line to the proper width and height until it is aesthetically pleasing to your standards.
Save the template on your computer where it is easily accessible. When a resident arrives to pay the rent, open the template, type out the data and print one copy for you to sign and give to the tenant. Print an extra copy for your records. This system provides easy to read receipts and a thorough tracking system for payments.
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