NetLessor - Manage Fee Types
Overview
NetLessor Fee Types allow users to create default types for fees that may be charged on NetLessor invoices. Fee types are optional but help standardize commonly used fees and reduce manual data entry when adding fees to a NetLessor Lease Record.
A fee type can define default values such as:
- Frequency
- Item
- Income account
- Default amount
- Default quantity and rate
When a fee type is selected on a lease record, these values automatically populate the fee fields but can still be overridden on a fee-by-fee basis.
Fee types are commonly used for recurring charges such as internet service, utilities, or service fees that are separate from base rent or Non-Lease Payments.
When to Use NetLessor Fees
NetLessor Fees are best used for charges that:
- Are not part of base rent
- Are not tied to the lease amortization schedule
- May change frequently or vary month-to-month
- Should appear as separate line items on NetLessor invoices
Examples include:
- Internet service
- Monthly utility charges
- Service fees
- Administrative charges
Unlike Non-Lease Payments, NetLessor Fees are independent of amortization schedule journals.
Prerequisites
Before creating fee types, ensure the user has access to the NetLessor Fee Type custom record and items and income accounts exist for any fees that will be posted.
Step-by-Step Process
1. Go to NetLessor -> NetLessor Setup -> Manage Fee Types
2. Select New NetLessor Fee Type.
- Add a name and configure the default fee values. These values serve as defaults and can be overridden when the fee is added to a lease.
You may define:
Default Quantity - A default quantity will populate on the lease record when the fee type is selected.
Default Frequency - Available options are one-time, monthly, bi-monthly, quarterly, semi-annually, and annually.
Default Item - The item that will appear on the NetLessor invoice.
Default Income Account - The account used when the fee is posted to the invoice.
Default Amount - A default amount that will populate when the fee type is selected.
Default Rate - A default rate will be applied and multiplied per the quantity on the fee record.
None of these fields are required. They simply provide default values for faster data entry.
3. Click Save.
The fee type is now available to select when adding NetLessor Fees to a lease record.
Important Notes
- Fee types are optional and exist only to streamline data entry.
- Values populated from fee types can always be overridden on the lease record.
- Fees created from fee types remain independent of the lease amortization schedule.
