How to use the Tenant Calculator

There is a fabulous little tool in Palace that is not well known or used The tenant calculator.

It is to be found in the right click of a tenant you will find a selection called calculator. This calculator has many uses, some of which will be explained below.

It takes the date the tenant started up to todays date (or their vacancy date), works out the total days, then times that by the daily rate of the rent. The total is under the heading $ Owing. This is how much the tenant should have paid during this period.

 

Calculations

This takes the total owing (what they should have paid) and is subtracted from what they actually paid. The rent due field shows you either a negative amount (rent in credit) or a positive amount (rent they own. The other amounts field is fed from the Tenant Debit area.

 

Rent to Date

This will always show today’s date but you can change it for example to the proposed vacate date. This will then change the amounts showing under the Calculations area. Ideal if a tenant wants to know what they will owe to vacate.

 

Other Amounts

The description of any tenant debits that have been created will show here.

Archive

Once you have finished with a Tenant, you can archive them directly. As soon as you are past the vacate date and you do not have any outstanding amounts, the tenant can be archive. You cannot archive if there is a balance in Tenant Other Amounts Owing i.e If any money is owed for a tenant debit, or it you have receipted money into Receipt - Tenant Other and have not created a Tenant Debit to clear it. You must clear this up before you can archive.

 

 

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