Retrospectively to adding tenancy in tenancy>recurring charges>add
Property level>recurring charge>add recurring
Unit level>recurring charge>add recurring
5. How to add a recurring transaction
Here we look at adding the recurring from property, unit or tenancy
This is where you select who the charge is relating to.
‘Starting on’ is the date that the invoice will be generated on the statement.
‘Repeating’ is to select the frequency that the transaction will generate.
‘For the period’ is for showing which period of time this transaction relates to e.g. you could have a charge generated in November for the period 1st to 31st of December.
‘Ending’ will dictate when the recurring charge will stop.
‘Transaction Type’ to select which charge you want to create.
‘Expected Payment Date’ is when the charge is expected to pay after this date the charge will become overdue.
6 How does tenancy type affect recurring transactions
When adding residential rent recurring’s your main focus will be the date the rent is due. This means your starting on and period start will be the same, in other words Arthur will create the transaction on the date that its due.
In the example below, we have created a monthly rental transaction due on the 12th of every month
When adding commercial rent recurring’s you will focus on laying the transaction in on specific invoice date, this gives enough time to send off the invoice to the client before payment is due. In other words, your starting on will be earlier than your period start.
In the example below, we have created a monthly rental transaction invoiced on the 1st but due on the 25th of the month
Commercial or residential charged in arrears
When rent charged in arrears you will focus on laying the transaction in on a specific invoice date after the period the rent covers.
In the example below, we have created a monthly rental transaction invoiced on the last day of the month for that same monthly period.
7. Adding a transaction manually
Go to property, unit or tenancy>statement> add transaction