We've made improvements to your software. Today's changes include an update to the Communication tab and an accounting change for auction proceeds.
We've made some changes to the Communication tab. You'll notice that the Forms tab within the Communication tab looks different. We've decided that it's not a necessary tab and that the functionality it held needed to be moved to provide a better experience using our software. Plus, it allows us to more easily expand on some of our current functionality.
You can read more about why we're changing the Communication tab on our help site.
We've made a change to how auction proceeds are classified. When an auction is processed, the amount paid is applied to the open charges on the unit's ledger. If there is any money left over after all of the open charges on the ledger have been paid, that money was previously listed as Prepaid Rent on the ledger. The excess amount was then available for refund to the tenant, as is in accordance to auction laws in most states. Now, the leftover amount is classified as Excess Auction Proceeds.
For example, If a tenant's balance due is $546.80 and their unit is auctioned at a bid of $900, the difference of $278.80 is classified as Excess Auction Proceeds. There are no changes to processing auctions or issuing refunds.
You can read more about processing auctions on our help site.