To create an Auto Charge on a lease:

  1. Click the Leases Tab.

  2. Choose Summary button from the sub-navigation bar.

  3. 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.

  4. If you are editing an existing lease, locate the lease. click the Edit button from the Lease Summary Page.

    Choose from one of the following methods to find the correct lease:

     

    Search for your lease

    Use the lease navigator

  5. Scroll down to the Auto Charges section, and 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:

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.

When would I select the Security Deposit Account?  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

Using the calendar icon, select an end date for the Auto Charge. 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 or X.XX

Frequency

Designate the frequency of the recurring charge:

  • Weekly - Creates one charge every week on the weekday that you select in the Due Day field.

  • Monthly - Creates one charge every month on the day that you select in the Due Day field.

  • Yearly - Creates one charge every year, on the day that you select in the Due Day field.

  • Yearly Accrual - Creates twelve charges immediately for 1/12th of the Amount entered (one charge on the Due Day for every month). This frequency is appropriate if you have received one year's rent, but wish to recognize the income on a monthly basis using accrual accounting.

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.

How do I post an Auto Charge before its Due Day?  You may set up your Auto Charges to post a few days in advance of their Due Day from the Company Information page of Propertyware's Setup. Simply select the desired 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. (Limit: 255 characters)

 

See Also

Creating One Time Charges

Automating Rent Increases

Viewing the Tenant Ledger

Recording Tenant Payments

FAQs

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