NetLessor - Partial 1st and Last Month Lease Income
OVERVIEW
Use Case: A lease has been commenced in the middle of the month and the lease income needs to be proportioned by the number of days the lease is active in the first and last month.
Prerequisite:
A new lease type needs to be created to account for the partial lease income in the first and last month. See Lease Type Configuration for a full explanation of the lease type setup.
STEP BY STEP PROCESS
- Navigate to the account mapping setup page by accessing NetLessor > NetLessor Setup > Manage Lease Types
- Select the New NetLessor Lease Type button to bring up the account mapping setup page
- Under the Lease Income Convention select Partial Month