Keep a clear record of what each tenant owes and has paid. Monthly rent is added automatically on the due date, late fees are applied when a balance is still open after the grace period, and the running balance updates with every payment. Print a tidy tenant statement whenever you need one.
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Lease terms
Record a payment
Add a charge or credit
Ledger
Date
Description
Charge
Payment
Balance
Remove
No charges yet. Check the lease start month and statement date.
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How to use the Rent Ledger
Enter the lease terms: tenant, unit, monthly rent, the day rent is due, the grace period and the late fee.
Set the lease start month and statement date. Rent is charged for every month from the start through the statement date.
Add each payment as it arrives, with the method and a reference such as a check number.
Add other charges or credits such as a utility share, a repair the tenant owes or a one-time discount (enter credits as negative amounts).
Print the statement or download the CSV. Use the tenant selector to switch between units.
How the rent ledger works
A rent ledger is a running account for one tenancy, laid out like a bank statement: every charge increases what the tenant owes and every payment reduces it.
Rent charges are created for each month from the lease start month through the statement date, dated on the due day. If the due day is 31 and a month is shorter, the last day of that month is used.
Running balance = previous balance + charge − payment. Charges on the same date are listed before payments, so a payment made on the due date shows the balance falling back to zero.
Late fee check (when automatic late fees are on): deadline = due date + grace days. If everything charged up to the due date is not covered by payments received by the deadline, one late fee is posted on the next day.
Late fee amount = the flat fee, or monthly rent × percentage ÷ 100. Example: 5% of $1,350 = $67.50.
Example: one month with a late payment
Date
Entry
Charge
Payment
Balance
Mar 1
Rent for March
$1,350.00
$1,350.00
Mar 7
Late fee (unpaid after 5-day grace)
$50.00
$1,400.00
Mar 9
Payment – check #1047
$1,350.00
$50.00
Apr 1
Rent for April
$1,350.00
$1,400.00
Apr 1
Payment – bank transfer
$1,400.00
$0.00
Good record-keeping habits for landlords
Record payments the day they arrive, with a reference such as the check number or transfer ID, so the ledger matches your bank deposits.
Give receipts for cash. A dated receipt for every cash payment protects both you and the tenant.
Apply the lease exactly. Use the same due day, grace period and late fee as the signed lease, and follow any local limits on late fees.
Send a statement when there is a balance. A clear statement with the full history resolves most disagreements before they escalate.
Keep deposits separate. Security deposits are usually not rent and some states require them to be held in a separate account.
Back up the CSV at least monthly and keep it with your rental income records for tax time.
Frequently asked questions
How is the running balance calculated?
Every charge (rent, late fees and other charges) increases the balance and every payment or credit reduces it. Entries are listed by date, with charges on the same day listed before payments. A positive balance is owed by the tenant; a negative balance is a credit, meaning the tenant has prepaid.
When is a late fee added?
For each month, the tool looks at the deadline, which is the due date plus the grace days. If the payments received by the end of that deadline do not cover everything charged up to the due date, one late fee is added on the day after the deadline. Only one automatic late fee is charged per month, and you can switch automatic late fees off.
Are late fees legal and how much can I charge?
Rules differ by state and city. Many places require the fee to be written in the lease, some set a minimum grace period, and several cap the fee at a fixed amount or a percentage of rent. Check your local landlord-tenant law and your lease before charging a fee; this tool only does the arithmetic.
Where is the ledger stored?
In your browser's local storage on this device only. Nothing is sent to a server and no account is needed. Download a CSV regularly as a backup, and remember that clearing browser data removes the ledger.
How do I handle a move-in in the middle of the month?
Set the lease start to the move-in month, then add a credit (a negative charge) for the days the tenant did not occupy the unit. A prorated rent calculator gives the exact daily amount.
Can I record a security deposit here?
A security deposit is usually held separately and is not rent, so it is best kept out of the rent balance. If you want it on the statement for reference, add it as a note on a zero-amount charge, or track deposits in a separate ledger.
What does the printed tenant statement include?
The landlord or property manager, the tenant and unit, the statement date, the lease terms, every charge and payment with a running balance, totals, and the balance due. Use your browser's print dialog to print it or save it as PDF.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.