A look into the different options you have in regards to editing and configuring prorated charges.
In this article, you will learn how the prorate settings will affect your account as well as where to identify and adjust these settings.
Finding the Prorate Settings - Accounting Settings
Click your initials at the top right and click 'Settings' > and click 'Accounting Settings'
- Once in the Accounting Settings, you will want to select Edit in the General Section of the page.
- When editing, you will want to go to the Prorate Settings
Within the Prorate Settings, you have the option to select from three different settings that will affect how the Prorate Calculator, as well as Prorate Charges, are tracked within the system.
- Actual Days in a Month - The prorate options will be calculated by actual days in a month, for example, February will show 28 days
- 30-Day Month - The prorate options will be calculated by 30 days
- Annual (Actual Days) - The prorate options will be calculated by the annual days in the current year
Prorate Calculator
- Our built-in Prorate Calculator will help you calculate how much to charge your tenants by using your selected Prorate Settings.
Finding the Prorate Settings - Lease Settings
Move In Proration Setting
- Click your initials in the top right and click 'Settings' > and click 'Lease Settings'
In the Lease Settings you will want to select edit on the Settings section.
Within the Move In Proration Setting, you will be able to edit when you want your prorated charges to occur
Prorate First Month
- Prorate First Month- The tenant's charges in the move-in flow will be affected, and regular charges will continue on the first of the following month
- When going through the new Move In Flow, you will be able to see the prorated amounts depending on the starting date for your tenants
You'll also notice the Security Deposit cannot be prorated. You can also notice that Deposits will be highlighted in Green for easier visibility of the charge.
Prorate Second Month
Prorate Second Month - With this setting enabled, it will charge the tenants the full amounts of their move-in charges on the first month, and will apply the prorated charges to the next month
- Within the Move In Flow, it will show the amount that tenants will be charged on the following month, as well as an individual section showing the Prorated 2nd Month Charges
- Within the Move-In Flow you can click on the 'i' next to your Move-In Charges, and it will show you your Proration Details that are currently active on your account and a link to adjust this directly if needed.
