Record a tenant's advance, deposit and billing cycle
Use Money setup to record how many months of advance and deposit a tenant pays at move-in, the total due, and whether each one is already paid.
Last updated
Most boarding houses ask for advance and deposit at move-in, like the classic "1 month advance, 1 month deposit". Money setup on each tenant keeps track of what was agreed and what's been paid.
Step by step
- Open Tenants. Tap Add Tenant, or the pencil icon on an existing tenant.
- Pick their room first, so BoardHub knows the monthly rent.
- Tap Money setup to open it.
- Choose the Billing Cycle: Monthly, Quarterly, Semi-Annual or Annual.
- Enter Advance (months) and Deposit (months). BoardHub fills in the Advance Amount and Deposit Amount from the room's monthly rent. Change the amounts if your deal is different.
- Tick Advance Paid and Deposit Paid for what the tenant has already handed over.
- Check the Total move-in line, then tap Add Tenant or Save Changes.
Tenants›Add Tenant›Money setup
What happens next
The terms show on the tenant's profile under Payment Terms, and in their Tenant Portal under Your Payment Terms, so you both see the same agreement.
Tips
- The amounts are calculated from the room's full Monthly Rent. For a shared Per Room room, type the tenant's own share instead.
- When the tenant pays the rest, edit them and tick Advance Paid or Deposit Paid so your records stay current.
Tip: A tenant paying future rent ahead, beyond move-in, is different. Record that under Record Payment as an Advance payment so it's applied to their next bills.
Frequently asked questions
Can I change the advance or deposit later?
Yes. Edit the tenant, open Money setup, change the months or amounts, and tap Save Changes.
Is the advance the same as advance credit on bills?
No. Money setup only records the move-in agreement. If a tenant pays rent ahead, record it as an Advance payment so it pays future bills automatically.