Generate Rent / Generate Payments - Common Procedure

You will need to generate your payments after your expense setups and expense schedules have been created and approved in the system. Once your payments have been generated, you will then approve or deny the payments.

Before a user can generate payments, they must have sufficient user permissions. If you are an administrative user and you would like to give your users generate rent permissions, see the Grant Generate Rent Permissions to Members procedures.

Occasionally a user will need to modify a transaction after it has been marked as processed. The transaction will need to be un-processed before changes can be made. We discourage users from un-processing transactions because transactions must be reported for auditing. Ensure that your transactions are correct prior to generating payments. If you do need to un-process a transaction, contact Support for instructions.

To generate rent / generate payments:

1. Do one of the following:

   • Navigate to Contract > Details > Summary.

   • Navigate to Equipment Contract > Details > Summary.

     Use the links in the Navigation Pane on the leftmost side of the page.

2. Click Generate Payments.

   This displays in the Actions menu on the right side of the page.

   The Generate Payments or Generate Asset Payments window opens.

3. Select the payment period from the Period to Generate field.

4. Select the payment year from the Year field.

5. Enter the posting date in the Posting Date field.

   The Posting Date auto-populates with the current date. It is possible to clear this value and successfully generate rent.

   Note:

   The Batch Date and the Batch Number refer to the event that is being generated by this action. You do not need to change these values.

6. Select one of the following options from the Generate Option field:

   • Single Contract: generates transactions only for the currently selected contract

   • Payables All Contracts: generates only payable transactions for all contracts

   • Receivables All Contracts: generates only receivable transactions for all contracts

   • All Contracts: generates transactions for all contracts in your portfolio

7. If you want to overwrite the due date for this batch, enter a new due date in the Default / Overwrite Due Date field.

   You can also click Calendar to open the Date Picker and select the appropriate date.

8. Select the portfolio that you would like to generate transactions for from the Portfolio field.

   All Portfolios is selected by default.

9. To filter or select the contracts for which you want to generate rent:

   1. Click Magnifying Glass next to the Contracts to Process label.

      A window opens.

   2. Use the filters at the top of the window to narrow the results which appear in the window.

      The available filters are:

      • Portfolio

      • Country

      • State/Province

      • Landlord

      • Vendor

      Additionally, there is also a Search field in the upper-right corner of the table.

   3. To filter using the column filters:

      1. Hover your cursor over the header of the column you want to filter.

         A down arrow appears.

      2. Click the down arrow.

         A menu opens.

      3. Choose one of the following options:

         • Sort Ascending

         • Sort Descending

         • Columns: Select or clear the columns to appear in the table

         • Filters: provides you with a list of filters you can apply to the column

      4. To remove the filters, click the red X to the right of the Search field.

   4. Select the check boxes next to the contracts for which you want to generate rent.

   5. Click Select Contracts to Process.

      The window closes. There is now a number in parentheses next to the Contracts to Process label that indicates the number of contracts selected. If you click Magnifying Glass again, the window will re-open with your selected contracts. If you click Red X button, your selections will be cleared.

10. Use the Where Payment Due Day fields to filter the contracts by due date.

    For example, you could configure the Generate Payments window so that the system will filter for contracts where the payment due date equals the 15th of the month.

11. Click OK.

    The payments are generated. A Success window opens.

    You will receive an email confirming the results. The email will have a Generate Rent log attached.

12. To view the generated transaction on a contract record, navigate to the Transactions page of the Contract or Equipment Contract.

    The transaction appears in the Transactions list.

13. To view the generated transaction in the job log:

    1. Click Admin in the toolbar in the upper-right corner of the window.

       The System Administrator Dashboard page opens.

    2. Click Job Log in the Company Administration column.

       The Job Log page opens.

    3. Click the link in the Log File column of the transaction you generated.

       A window opens containing a summary of the generated transactions.