Correcting a Base Management Fee for Rent if the Management Fee Setting was changed after the Charge was Created

This article will go over how to correctly adjust the lease charge if the management fee setting was changed after the rent charge was already created.

• This occurs if a rent charge is created before the management fee setting is adjusted. The system will not backdate these charges with the newest management fee setting change unless manually applied. Below is an example of when a rent charge was created before the management fee setting was changed and how you and your team can correct this.
  
  
  
  
  Before the base management fees were adjusted:
  
  
  
  After the base management fees were adjusted: 
  
  
  
  

1. To start you will need to go to the lease where this is occurring. You will then need to click on the transaction tab to view all of the charges and receipts associated with this lease.
   
   
2. Click on the rent charge that is supposed to be adjusted from the base management fee settings. This needs to be reallocated because you can not edit a charge when there is a receipt allocated. If no receipt is allocated to the charge, please skip to Step 6
   
   
3. If you scroll down on this page you will be able to see the receipt that allocated and paid this specific charge. Click on the receipt allocated to this charge
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   4. Click on the receipt allocated to this charge. This will allow you to change the amount that is allocated and paying for these rent charges.

   5. Since the charge that needs to be changed has a receipt allocated, we will need to zero out that amount. To do this look for the charge and erase the current amount applied. Enter $0.00 and click the green "Reapply" button to save this.

   6. Now that no receipts are allocated to the charge, you can click on it to edit it. To do this you will go back to the transactions tab of the lease and click on the charge that needs to be changed. You should now see that this has a banner under it labeled "Amount Unpaid" for the full amount of the charge.

   7. Click on the blue "edit" button in the charge details box. This will pull up a screen that will allow you to change different information. This is why the charge can not have any allocated receipt attached, because if it did you would not be able to change most of this information.

   8. Click edit on the "Account" field. Please note that this will show the rent chart of account being used, but we will still need to make these changes to fully reset it. You will need to change this Account to any other chart of account (it does not matter which one, as we are going to switch it right back). This step resets the charge to reflect the updated management fee. Make sure to click save after this is done.

   9. After saving, click ‘Edit’ again in the charge details box. You will then change the "Account" field back to the same rent chart of account that you had before. This will now be updated and pull from the new and current management fee.

   10. If you reallocated receipts earlier, allocate them back to the charge. To do this, you will need to go back to the transactions screen and click on the tenant payment that has the flag "Amount Unallocated".

   11. Scroll down to the "Applied To" section and click the reapply button. Enter the amount to be allocated to this charge. Make sure to click the green "Reapply" button to save this allocation.

   12. The system should now show a 5% management fee instead of the previous 10%. You can check this on the manager dashboard when posting the base management fees



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