From time to time, rent needs to be corrected, for example, if a Tenant’s rent was charged at the wrong rate, it will need to be corrected.
The process for correcting rent is:
- Remove all incorrect rent charges
- Edit the Rent Record - Add A New Entry
- Edit the Rent Record - Check All Entries
- Generate the rent forward at the correct rate
Remove all incorrect rent charges
Chintaro will ask if you want to transfer the transaction to the Buffer Account. Click 'Yes'.
Clicking 'Yes' will remove the transaction from the Tenancy Transactions ledger.
Edit the Rent Record - Add A New Entry
In the current Rent Record (the line with no End Date), enter an End Date as the last day the Tenant was charged Rent at that rate (EG The last date this Tenant was charged $100 for the Room was 6/1/17):
In the Line with the * enter the new Rent Record, including Start Date, (skip the End Date) enter the Other Charges and Market Rent (EG The first date of the new Rent Charges will begin is 7/1/17 - the day after the last End Date):
**Note - it is very important to make sure that there is no overlap or gaps in the dates. For example, the Start Date should always be the day after the last End Date. There should never be 2 rows with values for the same date.
Edit the Rent Record - Check All Entries
In the example above there are 2 issues that would cause the wrong rent to be charged:
1. There are 2 records with no End Date. A record with no End Date is called the Current Rent Record. That is the rate that will be charged for all rent charges that occur on or after the Start Date. In this case it looks like the rent record with a start date of 1/01/2016 was entered by accident, and the rent is $0. Any rent generated from 1/01/2016 onwards may be charged at $0, or it may be charged at $200. Chintaro has no way of knowing which amount is correct, as both records are active for that period. In this case you can just edit the record created in error. To do this, click on the grey box to the left-hand side of the start date to select the entire row. Then press the Delete button on your keyboard. You will get the following message:
Press 'Yes' to confirm, and the record will be deleted.
2. The period 5/07/2012 - 14/07/2012 conflicts with the record below (4/07/2012 - 22/07/2012). In this case you will need to figure out which dates are the correct dates for the different rent rates and edit the dates so that there are no overlaps. You can do this by typing over the dates with the correct date.
Generate the rent forward at the correct rate
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