How to Create a Bespoke Rent Collection Frequency

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

The multiplier is a whole number of a rent amount  entered into page 2 of the add tenancy screen.

 

 

 

Step 1

To set up a bespoke frequency go to Financials > Custom Frequencies:

 

Step 2

Select Add Custom Frequency:

Choose either:

  • calandar months – used when building legal quarters
  • recurring start dates – used when collecting rents on odd dates. e,g student collections

 

Step 3a Calandar months

“For Legal Quarter Collection Frequency, Select “Calendar Months” and “Put in Day and Multiplier which will be 1 of the rent amount”

The traditional English quarter days are: March 25, June 24, September 29 and December 25. In Scotland the traditional quarter days or term days are: 28 February, 28 May, 28 August, 28 November. The modern quarter days: 1 January, 1 April, 1 July, 1 October.

 

Step 4b Recurring start

Enter:

  • The day in the month you are collecting on (e.g. 1st collection = 3rd month, 2nd collection= 6 month, 3rd collection= 9 month)
  • A multiplier of the rent that needs to be collected each time

 

 

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