Example Scheduled Offset Scenario

The landlord has given the tenant an offset of $1,361 for overpayment on a CAM expense. The landlord has specified rules in regards to what can be offset and when. These rules are:

• Offsets cannot exceed $500.00 per month.

• Offsets can only be applied for June – December of 2016.

• Offsets can only be applied to payments made to the landlord and are not limited to the type of expense.

The tenant will create a scheduled offset record with the dates 06/01/2016 to 12/31/2016. The offset will be applied specifically to the landlord. The total amount will be $1,361.00 with a cap of $500.00 per month.

The offset will be applied against existing transactions. The tenant will generate payments for the month of June and then apply the offsets for that same month. Therefore, there will be two transactions: the original payment transaction, and the negative offset transaction. The tenant will run a report that exports both of the transactions into their accounting system.

Transaction Type	Amount
Base Rent - June	$1,280.00
Offset	-$500.00
Total Paid to Landlord:	$780.00

Things to Remember

• Creation: every scheduled offset must have a specified cap. It can be either a percentage or an amount per month.

• Matching Transactions:

  • If the offset needs to be applied across multiple vendors, but not ALL vendors, then an offset transaction needs to be set up per vendor.

  • If no matching criteria are specified, then all existing transactions within the period are considered eligible for offsets.

  • One scheduled offset can be applied against multiple expense types.

• Deletion:

  • Items that have been deleted CANNOT be recovered.

  • Scheduled Offset schedules with existing offset transactions cannot be deleted.

  • Transactions that are linked to offset transactions cannot be deleted.