To generate automated expenses against the Property Ledger (Management Fees) in Chintaro, you will initially set the relevant Preferences, then edit the Room Details screen in the Property record, and finally Generate the Fees.
Process for generating Management Fees for a Property
1. From the Home Screen, go in to System Maintenance> Preferences> Finance.
2. Set the Generate Management Fee to 'Yes', and enter a Fees Calculated To Date (In this example, the Management Fees will begin on 14/01/2019):
3. Click the Property quick link at the top of the screen, and find the Property you want to generate Management Fees for. Double click on the Property to open the Property Record.
4. Go to the Rooms section of the screen, and double click anywhere along the row of the Room (example highlighted): to open the Room Details screen:
This will open the Room Details screen:
5. In the Rent Rates section, close off the current Rent Record by entering an End Date in the box with no end date of the current rent record. The End Date will be the day before the Management Fee starts/started being charged.
6. In the line with the *, enter the Start Date of the Management Fee, the weekly Rent amount, the weekly Management Fee amount, other charges (if applicable) and the Market Rent.
7. Repeat steps 3-7 for all Rooms in the Properties that you will generate Management Fees for.
8. After all applicable Rooms have a Management Fee added, click the Home button, and go to Properties> Management Fees:
9. If you only want to generate Management Fees for some properties and not all, you are able to sort and filter the Properties using the column headings to filter on only those Properties you want to generate the Management Fees for, if applicable (EG WeeklyFees> right click on any field with $0.00> Does NOT Equal 0):
If you want to generate Management Fees for all Properties, do not filter the screen.
10. Check the Fees Have Been Generated To Date is correct.
11. Enter a date in the Generate Fees To field. This date will default to what your Rent Cycle is set to (Weekly/Fortnightly) in Chintaro. You are able to keep this date if you want to generate the Fees for Weekly/Fortnightly, however, you are able to change this date if you want to generate Fees for a longer period of time (EG 1 month, 3 months, etc), or a shorter period of time.
12. When you are ready, click Generate Fees. A pop up will appear to state that the Fees have been generated successfully:
13. The Management Fee transactions will now show on the individual Property Ledger, in the Property Record (Property > Property Transactions):