The article has been updated successfully.What is an Auto Charge?
An Auto Charge is an automatically recurring charge set on a lease in Propertyware. Auto Charges can be used to automate rent charges or future increases to rent charges on any given lease. Once you set an Auto Charge a lease, any recurring charges will post as an entry on the Tenant Ledger based on the frequency of that recurrence -- for example, if you set up a recurring Auto Charge of monthly rent to appear on the first of every month, the that rent charge will appear within the Tenant Ledger every month on that day. Once it posts, you can edit an Auto Charge from the Tenant Ledger.
To Create an Auto Charge on a lease:
- Click the Leases Tab.
- Choose the Summary page view in the left navigation pane.
- If you are creating a new lease, click the New Lease button at the top of the page; scroll down to the Auto Charge table.
- If you are editing an existing lease, locate the lease. click the Edit button on the Lease Summary Page; then scroll down to the Auto Charge table.
- Click the New Auto Charge button. The page will display a pop-up window where you can create an Auto Charge.
Then, complete the entries for the following fields; click Save when you are finished.
|
Field Name |
Description |
|
Income Account |
Define the type of charge by selecting the appropriate income account (i.e., Rental or Utility Charge) from the dropdown menu. Account types may be customized by your Administrator. Select the Security Deposit Income Account if the tenant has arranged to pay his or her security deposit in monthly installments over the course of a few months. Otherwise, create a one time charge for the Security Deposit. |
|
Start Date |
Using the calendar icon, select a start date for the Auto Charge. The charge will first post on the selected start date and automatically thereafter on each recurring Due Day set below. |
|
End Date |
Select an end date for the Auto Charge. The date entered is the date that it will no longer run. This factors in any advance posting of charges so it is best to use a mid-range date during the period in which the final charge should be run. This is ideal for a tiered rate lease where you would be entering multiple auto-charges with start and end dates. For example, the first charge Start Date may be January 1, 2011 and the next increase should be January 1, 2012. In this case, the End Date of the first Auto Charge should be December 15, 2011 to ensure that a charge will run in December, but will not auto-post for January. If you do not select an end date, the Auto Charge will continue to appear on the tenant ledger until the lease is terminated. |
|
Amount |
Enter the amount of the Auto Charge. Correct amounts must be entered in one of the following formats: $X.XX |
|
Frequency |
Designate the frequency of the recurring charge:
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|
Due Day |
Select a fixed day for the recurring charge to post on the lease's tenant ledger. If you have selected a Frequency of Weekly, you may select from the days of the week. If you have chosen any other Frequency, you may select 1-31, for the day of the month. You may set up your Auto Charges to post a few days in advance of their Due Day from the Company Information page of the SetupMenu. Select the number of "Days Before Due" from the Post Auto Charges field. This setting will apply globally to all leases in your account that are set up with one or more Auto Charges. |
|
Description |
(Optional) Enter a description for the transaction. You may use up to 255 characters. |
