Understanding the different Charge Types in Palace – Welcome, MRI Palace Support Centre

Charges in Palace are Internal Transactions - meaning money is moving from one place to another but not actually leaving the Trust Account, so does not affect your Bank Reconciliation.

There are 4 types

Charge Admin Fee
Charge Inspection Fee
Charge Owner Letting Fee
Invoice Supplier (Classifies as a charge as money comes off the property and moves to the Supplier).

You can set up a recurring charges i.e a Statement Fee that is charge each month. See the Diary Help for more information

Charge Admin Fee:

This function will take money from a Property (Owner) and move it to your ledgers, even though it is called Charge Admin Fee, you can put them money into any Ledger i.e Advertising. You will need to set up a ledger if you don't already have one. (Click here)

Using Charge Admin - Sample is using Credit Checks

Click on Transactions
Click on drop down arrow- select Charge Admin fee
Click on generate

Select the property
Check date
Select the ledger from the drop down list - Select Credit Checks
Put in amount
NOTE: The amount you put in MUST be GST exclusive as GST will automatically be added
Put in a Ref:
Check amount is correct
Add comments if needed
Click confirm
Then click process
The money has now been taken off the Property/Owner and moved to the Ledger.

Charge Inspection Fee:

This function is only used if you need to charge an inspection fee manually, normally you would always to it through the Control Inspections and then Reminders Charge Inspection. It is part of the Inspection wizard.

You can just follow the instructions from the Charge Admin Fee as it is mostly the same.

NOTE: if you use this function, it WILL NOT roll over your inspection that has been set up under Control Inspections

Charge Owner Let Fee

Use this when charging your owner the let fee

Same as the instructions above just remember it is GST Exclusive

The amount will auto fill in from the Let Fee area in the Property Edit screen

Invoice - Suppliers:

The Invoice function is for entering Supplier Invoices into Palace. It does the following

The invoice is entered against a property
The money is taken from the property and moved to the supplier ready to be paid out at month end
You can also create a tenant invoice directly from here.

For full instructions on how this works please see the maintenance help files. Basic Instructions are below

Entering an Invoice using Invoice Supplier

Click on Transactions
Click on the drop down arrow (Left hand) and select - Invoice Supplier
Click on the generate

Find the property
Check the date (You can only enter a date for this current month)
Select the Supplier
The expense code will auto show but you can change it
Note: Expense codes are important for the breakdown of expenses on the Year To Date Statement for the Owners
Enter in the amount
Enter in the Invoice Number
Check the maintenance fee details etc
Enter a Priority if needed - otherwise, leave as medium
Enter a due date if needed i.e Must be paid by a certain date
Note: If due date is needed, it will create a reminder in the diary 2 days before the due date that was set.
If some of the invoice needs to be on charged to the tenant, change the No to yes and then fill in the details and it will create and email the invoice to the tenant

If there is already money receipted for this tenant, it will show on the screen and you can assign it to the Invoice that you are creating.
If you have already scanned in the Creditor Invoice, you can click on the Paper Clip and attach the invoice to the diary.
Click OK
Once in the transaction screen, you can click Process

NOTE: If you have more than one invoice to process, then tick on Rapid entry (At top of creditor Invoice screen) As you enter each invoice you click OK and the transactions pops behind into the Transaction area and then you enter the next invoice, when you have finished you click on Cancel. Then you will see all the transactions in the list, click on Process.

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