Adding Recurring Charges

A recurring charge is a charge that is the same each month, such as a rent, cable, or garbage collection charge.

Caution! If you use the WinTen² Occupancy and Rent Calculation (ORC) program, do not set up recurring rent charges manually. The program does this for you automatically.

Note: Click here to find out how charging rent affects General Ledger. See "Charging a Tenant for Rent"

From the Main Menu screen, click TENANTS or RECEIVABLES. The Browse Tenant Leases or Browse Customers screen appears with all current leases or active customers displayed in a table.

Select how you want to order the tenant or customer table from the ordered by drop-down list, enter the search criteria in the search for field and click GO. The first tenant/customer to match the criteria is highlighted in the table.

Highlight the tenant/customer record you want to work with and double-click, or click

. The Tenant Management screen or Maintain Customer Information screen opens with the Tenant Information tab or Account Summary tab selected.

Select the Recurring Transactions tab. Displayed in a table are all the tenant's/customer’s recurring transactions.

Click

on the toolbar, and select “Add Recurring Charge” from the menu that appears. The Add Recurring Charge Wizard is initiated.

Hint: The non-editable customer name field appears at the top of the screens. Use this to verify that you are entering information for the correct account belonging to the correct tenant/customer.

Select the account to which you are adding the charge.

This is your agency-defined list of account types, which you maintain in the Setup area of the program. See "Setting Up Account Types"

Select the type of charge (such as “Rent”).

This is your agency-defined list of transaction types, which you maintain in the Setup area of the program. See "Setting Up Transaction Types"

Enter a description for the charge and enter the amount that the tenant/customer is charged each month.

If necessary, enter a maximum amount. When this amount is reached, the recurring charge will stop.

10.

Check the checkbox if the recurring charge is an annual recurrence (for example, lawn mowing or snow shoveling).

11.

Specify the start month and start year, or when the recurring charge schedule begins).

Hint: If you set the start date to a future date, the charge will be applied the first time you generate monthly transactions on or after that date.

12.

Specify the end month and end year, or when the recurring charge schedule ends. The charge will stop permanently after if reaches this date. The default is blank, which means there is no end date. If you entered a maximum amount, the ending month and year will automatically calculate.

Note: The charge will stop permanently after it reaches the maximum amount or the end date, whichever comes first.

Hint: Use the start month and end month fields if the charge is seasonal. The first charge of the season will be applied in the start month. The last charge of the season will be applied in the end month. The set of charges will repeat the following year, provided the charge has not yet reached an end date.

13.

Check the checkbox if you want to create the first month’s transaction on exit of the wizard.

14.

Check the checkbox if there should be an active lease required for this transaction. If you check this box, the recurring charge is only applied if the tenant/customer has an active lease.

15.

Click START to continue, review and confirm the information you have set up, and then click FINISH to add the recurring charge.The Recurring Transactions tabappears again with the new charge displayed in the table.