See Also Invoice Pay-Off Rules
During the Tenant Receipt function the payment received is distributed against the unpaid charges based on the payoff priority. Most property management companies have some order in which charges are paid off. Some pay off late fees and legal fees prior to rent while others do the opposite. Some do it based solely on the date of the charge. Sometimes an invoice charged to a tenant is considered the top payoff priority. Whatever your procedure, it can be handled automatically.
To help the Tenant Receipt function make the same payoff distribution you would choose, there is a payoff priority associated with each charge. For tenant charges like rent and late fees, the priority is set in Setup, Charge Codes.
The payoff priority dictates the order in which outstanding charges are paid with the funds available.
The sequence of distribution for tenant payments and the order of payment for invoices is priority first and date second. Therefore, if two line items have the same priority, the oldest one will be first in line.
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