How do I calculate rents and what is their meaning?

The steps below explain why the process to calculate rents is important and how it will save you time.

On the Organiser, you can view whether there are any invoices to be raised for the calculate rents process to be run.
For more information on How can I view and manage a list of invoices that haven’t yet been raised, click here

This article includes: 

• The meaning of calculate rents
• Calculate rents set up
• Update invoices using calculate rents
• Assign an invoice number

The meaning of calculate rents

In all Tenant and Tenancy Information records, when you click Invoice, there is a column Calc, which is ticked for recurring invoices such as rent.  

• If Calc is ticked on an invoice line, the invoice will be updated by raising it via calculate rents. You won't be able to click Update to move the invoice into the Receipt button, ready to receipt payments
• If you want to manually update an invoice which has Calc ticked, remove the tick and click Update, then tick Calc again before you click Close

When you calculate rents, an invoice isn't created. By default, there is no invoice number assigned to the charge and there is also no entry recorded in the History Log.

Calculate rents set up

• On a Tenancy Information, if you leave Calculate Rents ticked on the Tenancy Details tab, when you click Add Initial Invoice, the first month’s rent invoice and the deposit invoice appear as a single charge. Therefore, Calc is not ticked
  For more information on How do I add an initial invoice, click here
• If the Calculate Rents box was unticked on the Tenancy Information, Tenancy Details tab, then is ticked, any subsequent rent invoices will be ticked to be calculated

Update invoices using calculate rents

1. Click Posting on the main toolbar
2. Click Calculate Rents on the dropdown menu
   1. Calculate rents up to a particular date
      • Either leave it on todays date or advance the date to enable you to receipt monies paid early
   2. The rents will start to be calculated and you will see a progress screen
      • If any Tenancies with a vacating date have an invoice to calculate in the past or that fall after the vacating date, a message appears listing these Tenancies
      • Click Yes to print a list of these Tenancies for you to go back and review their invoice later
      • These invoices won't be calculated but any remaining invoices will be calculated

Assign an invoice number

By default, items raised via the calculate rents procedure will not be assigned an invoice number. To change the default, you will need access to User Defaults to edit your default settings. These can be accessed by those who have the correct permissions.

1. Click Defaults on the main toolbar
2. Click User Defaults on the dropdown menu
3. Click Preferences 
4. The General tab will be displayed
   1. Tick the box Allocate Invoice Number on Update
   2. Click Close
5. Click Close