We have now created a new step by step guide specifically for Letting Agents. You can access it from the link below.
Guide: Bookkeeping for Letting Agents
Please let me know here if you have any followup questions on this subject.
It’s better not to view the tenant as a client. What you want to avoid is having the full rental payments attributed to sales invoices. These monies are really just collected on the behalf of your landlords and they should not touch the P&L, but instead appear as a liability on the balance sheet until they are remitted to the landlord.
In the above guide we treat the landlord as the client, as they are the ones who are being invoiced for the management fees, this part is your income and should be attributed to a sales invoice. Of course there may also be aspects of your work that also treat the tenant as a client (e.g. credit checks, admin fees etc), but you can invoice them separately for these services.
We are always keen to prioritise API development if it helps users to build their own custom workflows. Please let me know if there’s something you’d like us to cover in our API and I will do my best to get this implemented for you.