Revised: 05/13/11

How to Setup/Process Retro Rent

The Retro Rent process is used to record and setup an auto-bill for rent that is to be repaid due to unreported income or some other issue that caused the tenant to owe an amount of rent that was never charged to their account.

Click on the appropriate link to go directly to one of the following areas:

Accounting Codes

Maintain>>Tenant Accounting Tables>>Accounting Codes

Make sure there is an Accounting Code 01-02, 03-01 and 03-98 set up

01-02

Accounting Code: 01-02
Description: Retro Rent (or enter your own description)
Type: Credit
Class: Payment
Due Date Mode: May be left blank
Contra Code: May be left blank

03-01

Accounting Code: 03-01
Description: Charge Retro Rent (or enter your own description)
Type: Debit
Class: Payment Agreement/Retro
Due Date Mode: Same Day as Document Date
Contra Code: None

03-98

Accounting Code: 03-98
Description: Install Retro Rent (or enter your own description)
Type: Debit
Class: Setup Agreement/Retro
Due Date Mode: Same Day as Document Date
Contra Code: 03-01

General Ledger Links/Check Books

Maintain>>Tenant Accounting Tables>>General Ledger Links/Check Books

01-02

Link the 01-02 code to the following for each appropriate area and community:

Credit: Tenant Receivable
Debit: Cash

03-01

Link the 03-01 code to the following for each appropriate area and community:

Credit: Retro Rent Receivable
Debit: Tenant Receivable

03-98

Link the 03-98 code to the following for each appropriate area and community:

Credit: Rent Revenue
Debit: Retro Rent Receivable

Adjustment Entry

Activities >> Adjustment Processing >> Adjustment Entry

Make an adjustment entry for the tenant.

Use code 03-98 Install Retro Rent
Transaction amount is the total of Retro Rent.
Payment amount field opens – this is the monthly payment that will be charged to the tenant
If set up correctly, it should create an auto bill for the tenant with the maximum to be repaid and the monthly installment amount.

In tenant activity and history the charge will show but will not add to balance.

Auto Bill

Go to Maintain>>Tenants (Active)

Enter the tenant's Last Name and select the appropriate tenant from the list
If the file is in "read only" mode go to Quick Link>>Unlock Tenant File. Select a Tracking Code and/or enter a modified description and click Save
Go to Quick Link>>Auto-Bill Setup
Check the tenant's auto bills and if not already entered, setup an auto bill entry using code 03-01 Retro Rent Monthly.

When auto bills are posted the charge will show on tenant activity/history and add to balance due.

Cash Receipts

Use code 01-02 Retro Rent Payment to enter the cash receipt.

The use of this payment code is so the appropriate description is entered for the payment and the codes can be used in reports to differentiate the different payments.