See also: Interactive Help: Charge a Lease Fee
How to document #209
There are several ways to record a leasing fee.
Use the Management Fee table in <<Setup>> to enter information about the leasing fee, if desired. This is for information purposes only.
In most cases the leasing fee is taken from the first full month’s rent. In any case, the decision of when to take the fee is yours.
When you post using either method below, the owner ledger balance will be decreased immediately with a transaction dated with the selected posting date. If you use the recommended method you will be warned if the owner balance is being drawn below $0. The alternate methods will not give a warning.
Recommended procedure
1.
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Go to <<AR, Prorated Rent>>
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2.
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The fields on the right are for information only. The fields on the left govern what will be posted.
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3.
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Select the tenant or unit
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4.
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Set the [Posting Date] to the day the leasing fee should show in the owner’s ledger.
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5.
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Clear the [Days in Rental Period] field using <Shift><Backspace> or enter 0.
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6.
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Enter the amount in the [Leasing Fee] field.
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7.
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The [Rent] and [Management Fees] should be blank prior to posting.
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8.
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Type in a memo if appropriate.
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Alternate Method
1.
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Go to <GL, Journal Transfer>.
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2.
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Set the [Date] to the day the leasing fee should show in the owner’s ledger.
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4.
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Select the [Account] for Lease Fee Expense.
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5.
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Select the [Ledger] (unit, owner or property)
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6.
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Enter the amount (enter a negative number if you are returning a fee).
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7.
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Click in the open area below the first block to create a second block of information.
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8.
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Select the [Account] for Lease Fee Income.
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9.
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Select as the [Ledger] the management group.
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10.
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The [Amount] should automatically be filled in. Enter the amount if it is not filled in.
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