Use this tab and the Tenant Select tab to generate billings
for retail tenants with percentage rent lease clauses. This type of billing
is based on retail sales reported by each tenant using the percentage
rates for specified sales categories and types.
Note
An asterisk (*) indicates
a required field.
Select Properties
Click to select properties from the Select
Properties tab. The process runs for all selected properties.
Preliminary/Final Update
This field defaults to Preliminary, which is the
recommended choice. Accept the default to run a preliminary update that
allows you to review and audit percentage rent calculations and complete
any edits necessary prior to running the final update. Or, mark Final to run a final update that bills tenant accounts
with the amounts due and prints the percentage rent calculation statements.
Assess % Rent Charges
When Final Update is selected, the Assess % Rent
Charges check box option is available. Check the box to update the Period
Last Billed and charge the % Rent amounts to the selected Tenants. Otherwise,
keep this check box cleared to update the Period Last Billed only for
the selected Tenants.
Year End Adjustment
Select the check box if you want the percentage
rent billing to be considered when figuring year end adjustments. Otherwise,
keep this check box cleared.
% Rent From (MM/YYYY) *
Enter the period to calculate percentage
rent amounts from (mm/yyyy).
% Rent Thru (MM/YYYY) *
Enter the period to calculate percentage
rent amounts through (mm/yyyy).
Date of Record *
This field defaults to the current system date
for properties that have gone live, regardless of which update is selected
(preliminary or final). If the final update is selected to run, type the
date (mm/dd/yyyy) when the details of the final run should post to your
general ledger. Or, use the Calendar
Button to select a date.
Print % Rent Letter
Select this check box to print a % Rent Letter.
Document
Select a % Rent Letter document to print.
Message
Type a message to print on the % Rent Letter (optional).
Process
Click to display the % Rent Billing Report in
PDF format.
The Tenant Selection grid allows the user to choose the
Tenants to be processed. The
system only lists Tenants that have sales detail based on the criteria
selected on the % Rent Billing tab.
Property
The property ID.
Bldg.
The identification code for the building.
Suite
The suite number for the tenant. For instance,
1101.
Name
The name of the tenant.
Status
The tenant's status, based on the % Rent From/Thru
dates entered on the % Rent Billing tab. Status options include Current,
Previous, and Leased.
Balance
The sales amount based on the criteria selected
on the % Rent Billing tab.
Select
Click the top check box and all properties shown
will become selected. Or, in the column, check only the box(es) for the
properties for which you want the % Rent Billing process to run.
%
Rent Billing Fields