Rental Receipts

Before proceeding to vouch rental receipts, copies of bills issued to tenants should be test checked reference to copies of tenancy agreements and bills of charges paid the landlord on behalf of the tenants, i.e., house tax, water tax, electricity consumed, etc. The entries in the Rental Register in respect of rents accrued afterwards should be verified reference to copies of rental bills. The amounts collected from tenants on account of rent should be checked reference to receipts issued to them. These afterwards should be traced into the Rental Register. At the end, the register should be scrutinized to find amount or rents which have not been recovered and are considered bad or irrecoverable, for deciding whether these should be written off or as provision against the same should be made.
An overall check over rental receipts is also necessary. For this purpose, particulars of total accommodation available for being let out, in different buildings, belonging to the client, should be ascertained. It should be verified that every available accommodation has been let out and rental income has been duly accounted for. If it is reported that one or more tenements have remained vacant a certificate in respect thereof should be obtained from the client.

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