This function is used to set up various repetitive charges against the Property (owner) or Tenant.
For setting up Inspections, see INSPECTION CHARGES. Repetitive charges are for things like like Fixed Management Fees and Fixed Administration Fees.
These fees can be set to repeat each month - or whichever frequency you chose. Once set up, they can be set as repetitive so they are available for charging at your chosen frequency.
Below is an example of a Repetitive Charge on a Property. The same process can be applied to a Tenant.
- Go to the Property or Tenant Diary.
- Select CHARGE.
- Write a description in the comments. i.e what type of fee for what
- Click on Group drop-down and select relevant group (if necessary).
- Select Start Date (the date you want the first charge to start).
- Enter in the repetitive period.
- Enter the amount that you are charging (exclusive of GST).
- Ledger account (select which Ledger you want the money to go to)
Include Print if you want this entry to print out on a Diary report.
Click on Save & Close.
The Charge will show up on your dashboard on the day it is due - It will also show up if it's overdue. You can then process these charges. and then it will roll over to the next date.