How to add float money for a property

To add a float please follow the steps below. A float is added against a specific property but when creating settlements you can choose to pull that float money into another property (provided it is owned by the same property owner). We don't currently have a one-click button to add a float nor show the total float money held anywhere, the guide below is a workaround. In the future we want to address this.

This guide is only relevant to properties that are managed.

The money-in received into the bank account has to come from somewhere, to link this to an entity (which feeds through into Xero if you use the integration) you have two options. You can create a generic 'Float Top Up' supplier, or you can create a supplier for each property owner that tops up the float. Our recommendation is to have a generic supplier called 'Float Top Up' which is what this guide demonstrates.

We will now add the money-in as an income to the property owner from this supplier, if you follow the screens below it will work out well. Make sure to check the final preview screen to confirm it says 'Client Money' and 'The owner receives £X.'

Each time you create a settlement for this property owner (pulling in this property) you will be given the chance to draw down from the float. By default the system will pull in the full float funds available, which is likely undesirable. So you can click the edit button for that line item to modify how much of the float money you are pulling into this settlement.

Done That's the process.

If you have any questions or struggle to manage this guide reach out to our friendly team who will help.