% Rent Billing Tab

Make the following selections from the eSite menu to display this page:

Rebilling—Retail—% Rent Billing

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.

% Rent Billing Fields

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.