Lease Adjustments

Are you looking to adjust the tenant's billing for future months? It is recommended to edit the current lease, add the recurring adjustment to the service(residential rent)/ features, and specify the effective date of this adjustment. 

Are you looking to adjust the tenant's current balance or rectify past charges? It is recommended to complete a one-time lease adjustment by applying the credits or charges where needed. 



To adjust the recurring billing of a specific service item and/or feature on a current lease,

STEP 1) Navigate to Tenants & Leases → Leases → Select the applicable lease → Select Term in Effect OR Select Views → Lease Terms → Current → Select the pencil to edit:


STEP 2) Select the button for +Add Adjustment (where needed Ex. Residential Rent or Feature) 


STEP 3) Fill out applicable fields Select Save


Type of Adjustment Monetary or Percentage
Value of the Adjustment Input recurring adjustment amount or %

(Note: a positive value will increase the start price whereas a negative value will reduce the start price)
Effective Date Input the date you would like to initialize the charges

(Note: if left blank, on the next billing cycle - revised billing will occur for the two previous billing cycles)
Expiration Date Input Expiration Date to end the charges


STEP 4) Select Versioning -> Finalize (to finalize/ confirm the adjustment)


Important Note: If the tenant is no longer using a feature, instead of removing the feature from the lease - please implement an expiration date. *Removal of the feature will result in revised billing occurring for past billing cycles.



From time to time, you may need to adjust the current balance of a lease through a one-time adjustment (for chargebacks, write-offs, incentive credits etc...), using the following adjustment methods: Charge and Targeted Credit.

STEP 1) Select into the Lease →Select the Adjustment Tab → Select + New Adjustment



STEP 2) Fill out applicable fields Select Save



Charge (To create a charge adjustment)
Credit (To create a credit not tied to an AR code)

Targeted Credit (To create a credit tied to an AR code)

Charge Code/Credit Code/Target Code

Charge Code (To select the AR code for the charge)
Credit Code (To select the type of credit)

Target Code (To select the AR code for the credit where this AR code is currently owed on the tenant's ledger)

Amount Input Value of Charge/Credit
Execution Type Immediate (Will post the charge/credit immediately to the tenant ledger)
Pending (Will require you to enter the Target Date that you want the charge/credit to post to the tenant ledger - This will allow you to post charges/credits for the future to the lease)
Received Date If the charge/credit is from the past you are able to input a received date that differs from the "Post Date". This field is reviewed by the Late Fee & PPD Policies respectively allowing you to input an adjustment later in the month but back date the adjustment in alignment with the policies.
Description You are able to input a description as needed. This description will appear on the tenant ledger associated to the charge/credit.
Overwrite Default Tax If you are creating a charge & you have a tax policy configured you can select this box to overwrite the policy defined tax amount & adjust the amount or percentage as needed.
Tax Type This allows you to define if you will use a "Monetary" tax amount or a "Percentage" tax amount
Tax Input the monetary/percentage tax amount

STEP 3) Select Actions → Submit 



You will now be able to view the adjustment under the adjustments tab of the lease:




System auto-links credits/payments to charges to reduce the burden on the user as well as to avoid any missing allocation of said credits/payments. There are two types of credits/payments in the system, general and targeted. General credits/payments are not associated with a specific AR code, while targeted ones are. General credits/payments will automatically be linked to any open charge however when a targeted credit/payment is introduced, it will replace the general credit/payment on that specific charge. 
Charges and targeted credits/payments with different AR codes will not be automatically linked, however, they can be manually linked from the ledger view, by clicking the Outstanding Items button, selecting the desired charges with the credits/payments, and clicking the Link Selected Items button. 
In the case where a charge of a specific AR code is manually linked with a credit/payment of another AR code if another credit/payment of the same AR code as the charge is introduced, it will replace the non-matching one. In our case above we are linking the Bird charge with a Residential Rent credit. If a Bird targeted credit were to be introduced, it will replace the rent credit.



Was this article helpful?
0 out of 1 found this helpful