Setting up Prorate Policy and Yardi Configuration (Step 4)

Most companies use a prorate to manage their leases. In order to ensure your rules are set up correctly, the Prorate rules need to be configured correctly. As with all Policies, the rules can be adjusted by Organization, Province/State or Building Specific.

In PropertyVista CRM, go to Administration->Policies->Finance->Billing. In Billing Policy, select Billing tab.

Choose your proration method:

Value

Description

None

No prorate

Actual

Prorate is calculated based on monthly lease price, actual number of days in prorate month, and actual number of days of lease in prorated month

Standard

Prorate is calculated based on monthly rent price, 30 days in prorate month, and actual number of days of lease in prorated month.

 

For 31 day month, If start date is 31st, the number of days is 1, if 30th, then 2, If 29th, 3. For 28 day month, if start date is 25th, the number of days is 4.

30 Days Month

Prorate is calculated based on monthly lease price, 30 days in prorate month, and number of days of lease in prorate month between start date and 30th of the month.

 

For 31 day month, If start date is 30th or 31st, the number of days is 1, for 29th, 2. For 28 day month, if start date is 25th, the number of days is 4.

Annual

Prorate is calculated based on annualized lease price, actual number of days in prorate month, and 365 days in a year

 

Rounding offset defines the lease term end date. Rounding offset values:

  • Number, 1-31 - day of rounding offset from start date of billing cycle (or 1st day of month, if Billing Cycle Start Day set to 1)
  • Number, 0 - rounding to last day of previous billing cycle (or previous end of month, if Billing Cycle Start Day set to 1)
  • Not Set - no rounding (future functionality)

Billing Cycle Start Day can be set in Billing Policy in Available Billing Types section. If set to 1, it is equal to 1st of month. Billing Cycle Start Day must be set to 1 for mapping with Yardi Voyager 6.x. In Yardi Voyager 7, it is mapped to Bill Day.

 

To ensure that the mapping is done correctly, step by step guide is in the attached article will walk you through how to check your Yardi Settings. 

 

IT IS IMPORTANT THAT YOU MATCH PROPERTY VISTA PRORATE SETTINGS TO MATCH YOUR BUILDINGS YARDI SETTINGS! 

 

AS an FYI: If you want lease applications, as an example, for 12 month leases unless it is not on the 1st (then pro-rate to 12 months + prorate) set the OFFSET for Pro-rate to "2"

 

(PLEASE READ THE ATTACHED DOCUMENT)

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