Set up the tenancy settings to be used in the lease offer and administration process.
1. From the homepage, go to Tenancy module.
2. Navigate to the Lease Setting and select TS Tenancy Settings.
Setting up the Lease Calendar
Under the Details menu, select the pre-defined lease calendar options available (this may vary per country and region).
Setting up the Invoice and Revenue Recognition Settings
Under the Invoicing Settings menu, set up the following:
- Recurring Bill - select the revenue recognition rule, invoice and billing generation frequency, invoice and billing generation day. Exceptions can also be set up for a different business entity.
Revenue Recognition: Recognize by Accounting Period
Invoice Date Option: On 1st Month of Bill Period
Bill Generation Option: On Month Preceding Bill Period
Invoice Day of Month: 1
Bill Generation Day of Month: 23
- Bill Transaction Type - select the transaction types for invoice and credit notes.
Invoice Transaction Type: Lease Rental
Credit Note Transaction Type: Ad-hoc/Others
- Deposit - select whether to generate deposit as cash charge and to calculate deposit based on GR
- Advanced Billing - select whether to calculate advanced billing using anniversary date
- Account Financial Segments - select the cost centre and AR account
Fixed Cost Centre for Lease: Yes
Fixed Cost Centre: 11 - Leasing
AR Natural Account: B110 - Trade Receivables
- Amortization - select whether to enable lease amortization, the amortization accrued account and amortization revenue account, whether to enable collection when activating leases
Enable Lease Amortization: Yes
Amortization Accrued Account: B290 - Deferred Income - Rental Amortization
Amortization Revenue Account: J140 - Rental - Amortised & Stepped Rent
Collection must be made when activating leases: Yes
Setting up Charge Types
Under the Details menu, add the recurring charge types, other recurring charge types and one-time charge types.
Recurring Charge Types: Base Rental, Additional Rent, Service Charge, Parking Income
Other Recurring Charge Types: Miscellaneous Income, Admin Fee, License Fee
One-Time Charge Types: Fittings Deposit, Service Deposit
The charge types will be populated as a list for selection in the tenancy modules under charges.
Setting up Usage Types
Under the Details menu, add the usage types per space type.
Usage Type Name: Unit
Space Type: Commercial
The Usage type will be used during the lease offer selection.
Setting Up Insurance Types
Under the Details menu, add the insurance types. Example: Public liability, Fire Safety.
Setting Up Trades Types and Sub-Trade Types
Under the Details menu, add the trade and sub-trade type. Trade Types and Sub Trade Types serve as categories for the lease that the user is creating for.
Example: CSF - Commercial Space Floor, CSF1A - Floor 1A.
Setting Up GTO Settings
Under the GTO settings menu, set up the following:
- GTO Billing Start Period - select the business entity, building and set the GTO billing start period.
- GTO Invoice - select the business entity, trade type, invoice charge type, invoice tax code and invoice transaction type.
Business Entity: AGPL - LT - Lotus's
Trade Type: ARC - Arts & Crafts
Invoice Charge Type: GP Rent Epress
Invoice Tax Code: Standard
Invoice Transaction Type: Lease GTO
- Other Business Entity Invoice Setting - select the invoice charge type, invoice tax code, invoice transaction type and validation rules.
GTO/Benchmark Report periods: 3
Deviation Threshold +/-: 20%
Missing GTO Data Alert: 5 days
- Sites with GTO Estimated Values - select the business entity and building that will use GTO estimated values