Recurring Fees

Recurring fees for example, such as Ground Rent or Service Charges can be applied using the Recurring Fees screen.

Accessed via the Recurring Fees button on the Financial tab of the Home page or Contact screen or the Tenancy screen. If adding a new Tenancy the Recurring fees screen will not be displayed until the Tenancy has been saved.

A System Configuration Option specifies how many days prior to being due to raise the invoice (during the start of day process). This option 'Raise Recurring Fees X Days Before Due Date' System Configuration option defaults to 7 and can be found under Financial section of System Configuration. When changed it will not apply to historical transactions.

The Recurring Fee screen displays the following information:

• Start Date

• End Date

• Contact

• Property

• Frequency

• Account

• Product

• Amount

The following options are available from the Menu button alternatively right clicking will display the menu options:

• New

• Edit

• Delete

• Find

• Export Grid to Excel

• Refresh

Adding a Recurring Fee

1. On the Recurring Fee screen click New. When using the Recurring Fee screen from the Contact's screen the Contact will already be selected otherwise you will need to select the contact the fee is being raised for.

2. Specify the Start and End Date. If no end date has been entered the fee will recur infinitely

3. Use the Frequency drop down list to specify the recurrence frequency.

4. Select the Bank Account the fee will be raised against.

5. Select the Product.

6. Specify an Amount

7. Select the Raise Invoice check box to produce an invoice.

8. Click Save.

The recurring fee is raised against the Tenant i.e. the Contact that has made the offer against the Property.

During Acquaint’s start of day procedures Acquaint will check the Recurring Fees and:

• Raise new charges if needed.

• Recurring fees will be set to inactive if the end date has been reached or the tenancy the recurring fee is linked to has ended

• Each recurring fee raised during the start of day procedure’s will appear on the Send Invoices screen and will also be included in the Invoices Require Sending on the Home Page Reminders.

Disabling a Recurring Fee

To disable a recurring fee use the Edit option fee and either set the recurring fee as inactive, change the end date of the recurring fee or delete the recurring fee.