Setup Questions Income Codes
Questions in this section are intended to help you make decisions about your setup. The questions follow the pattern detailed in the field list that is associated with the task.
Field List
Refer to the following field list for more information: Income Codes.
Instructions
Questions for Income Codes
Note that not all fields are required and some do not appear, based on policies established. Refer to Income Codes Overview topic for details.
Income Code (required)
What identifying code do I want to use for this income code?
Enter a code: ________________________________
Do not include any special characters in this entry.
Description (required)
What description do I want to use for this income code?
Enter a description: ___________________________
Do not include any special characters in this entry.
Type:
What income code type do I want to assign to this income code?
Each type has default settings associated with it. For a list of possible defaults, refer to the Income Code Table in the Income Codes Overview.
Circle a type:
|
Non-rent |
Vacancy |
|
Rent |
Model |
|
Deposit - Other Security |
Employee |
|
Security - Subject to Minimum |
Lost Rent |
|
Other Miscellaneous Income |
Percent Rent |
|
Concession |
|
Flags
Potential
Do I want the system to include the income associated with this income code in the gross potential for the property?
Circle one: Yes or No
If the Potential field is checked, the system to includes the income.
If the Potential field is not checked, the system to excludes the income.
Receivable
Do I want the system to include the income associated with this income code as a receivable?
Circle one: Yes or No
If the Receivable field is checked, the system to includes the income
If the Receivable field is not checked, the system to excludes the income.
Interest
Do I want the system to expect interest to be paid for this income code?
Circle one: Yes or No
If the Interest field is checked, the system expects interest to be paid.
If the Interest field is not checked, the system does not expect interest to be paid.
Refundable
Do I want the system to expect amounts associated with the income code to be refundable?
Circle one: Yes or No
If the Refundable field is checked, the system expects refundable amounts.
If the Refundable field is not checked, the system does not expect refundable amounts.
Calculate Late Charges
How do I want to handle late charges? For more information, refer to the Calculate Late Charges field on the General Tab in the topic, Income Codes
This question appears only when the property policy Track Late Schedules is set to Yes or No.
Circle one:
Regular Late Fees Only
No Late Charges
Options
Suppress on SODA
Do I want the system to exclude balances for this income code from the SODA (Statement of Deposit Account) generated during a refund or forfeit?
Circle one: Yes or No
If the SODA field is checked, the system excludes balances.
If the SODA field is not checked, the system includes balances.
Active
Do I want the status of this income code to be active?
Circle one: Yes or No
If the Active field is checked, the income code is active.
If the Active field is not checked, the income code is inactive.
Subsidy
Do I want the system to show charges associated with this income code to be used for Invoice Letters in the totals or displayed as a line item for the following Invoice Letter fields:
Circle one: Yes or No
If the Subsidy field is not checked, the system allows charges associated with this income code to be used for Invoice Letters in totals or displayed as a line item for the referenced Invoice Letter fields.
If the Subsidy field is checked, the system does not allow charges associated with this income code to be used for Invoice Letters in the totals or displayed as a line item for the referenced Invoice Letter fields.
Apply to
To what income code do I want to apply the offset when using the open item application process? For more information, refer to the Apply to field on the General Tab in the topic, Income Codes
Enter an income code if different than the default income code: ______________________
Prorate:
Do I want to prorate the amounts associated with this income code?
Circle one:
Prorate
Full Amount
None
Exclude from eDex
Do I want the system to to exclude any open item data for this income code from eDex?
Circle one: Yes or No
If the field is checked, the system excludes open item data from eDex.
If the field is not checked, the system includes open item data from eDex.
Priorities
1st Priority (required)
What primary priority do I want to establish when applying payments regardless of the due date?
Enter a number (1–9): _______________________
2nd Priority (required)
What secondary priority do I want to establish when applying payments regardless of the due date?
Enter a number (1–9): _______________________
Sales Tax 1-4
Do I want the system to assess and collect taxes on amounts charged to this income code?
For Sales Tax 1, circle one: Yes or No
For Sales Tax 2, circle one: Yes or No
For Sales Tax 3, circle one: Yes or No
For Sales Tax 4, circle one: Yes or No
If the Sales Tax field is checked, the system to assesses and collects taxes.
If the Sales Tax field is not checked, the system to does not assess or collect taxes.
Local
Do I want the system to assess and collect local taxes on amounts charged to this income code?
Circle one: Yes or No
If the Local field is checked, the system to assesses and collects local taxes.
If the Local field is not checked, the system to does not assess or collect local taxes.
Enter G/L Accounts
Do I want the system to allow me to link income codes to any general ledger account number?
Circle one: Yes or No
If the G/L Accounts field is not checked, the system does not display the Income Codes - G/L Accounts grid.
If the G/L Accounts field is checked, the system displays the Income Codes - G/L Accounts grid.
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