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How to add or build a custom collection frequency including legal quarter and termly collections

Arthur allows a custom rent collection frequency to be set up outside of normal frequencies used in the industry.

Either

  1. Import a frequency Arthur has defined such as legal quarter
  2. Create your own frequency

When adding a tenancy please note that Page 2 of add tenancy screen defines contract rent i.e what the contract defines and is not related to how you collect. Page 3 defines how much rent is collected and how often. Applying a frequency custom or regular simply defines how much the amount is to be multiplied by.

 

 

 

 

Build or import a custom frequency

To set up a bespoke frequency go to preferences >>fianancial> custom frequencies

 

 

 

Import a frequency

Import a pre-created frequency such as English legal quarter (For Scottish quarter days use normal quarter and adjust the dates)

 

 

Add a custom frequency

 

Choose Calendar months then add the rents.

 

 

The multiplier takes the rent (daily, weekly, monthly) and multiplies it for that collection

£Rent amount * Frequency =  £Total rent amount due for that period

For example, if you collect rent 3 times a year based on multiple weekly rent. So for example, if the rent is £15,000 annually then the weekly amount is £288.46.

  1. In January you collect 15* £288.46
  2. In April you collect 12* £288.46
  3. In Sept you collect 15* £288.46

 

 

When adding the tenancy refers to page 3 above and ensure the amount entered is the amount you want

 

 

 

 

 

 

 

 

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