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Expense Setup Page - Recurring Expenses - Contract Module

Create Expense Setup records for all recurring expenses on the Expense Setup page. Also create vendor allocations, expense schedules, and expense allocations.

Enter information that needs to flow from the recurring expense to the transaction as a Description and/or Remit Message

To navigate to the Expense Setup page:

  1. Navigate to Contract > Payment Info > Recurring Expenses.

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

  2. Follow a procedure below.

ClosedManage Expense Setups

An Expense Setup is the parent record for a recurring expense. You must create an expense setup before you can create a vendor allocation, expense schedule, escalation, or expense allocation.

ClosedAdd an Expense Setup

To create an expense setup:

  1. Click Add Item in the Actions menu on the rightmost side of the page.

  2. Complete the form:

    • Expense Group: Select a group or create a new group or category and select it.

      Groups are the first level of organization. These are the parents of types, and grandparents of Categories. Use groups, types, and categories to simplify reporting.

    • Expense Type: Select an expense type or add a new Expense Type and select it.

    • Expense Category: Select an expense category or create a new group or category and select it.

      Categories are the third level of organization. These are the children of types, and grandchildren of Groups. Use groups, types, and categories simplify reporting.

      Recurring expenses with a category of Rent are included in calculations such as Natural Breakpoint, Aggregate Base Rent, Annual Base Rent, Expense Forecast, Report Fields – Financials (Calendar & Fiscal). We recommend that you use four expense categories.

      Important!

      Do not delete or edit the Rent category. It has functionality in the system.

    • Frequency: Payment frequency. If you select a frequency other than Monthly, the Monthly Amount is replaced with a Period Amount field. You can select your payments to be paid using English, Irish, and Scottish quarters to match the fiscal calendar you use.

    • Description

    • Currency: Currency that the payment will be made in.

    • Rentable Area: Amount of space in the selected Area Unit that is rentable. Do not enter 0. If you are not going to use rentable area, leave it blank.

      This populates with the rentable area you entered in Step One: Contract Summary Setup Page.

    • Area Unit: Units to measure the Rentable Area in. This populates with the valus you entered in Step One: Contract Summary Setup Page.

    • Pro Rata Share: Proportionate share of the expense. For example, many contracts for tenants of indoor malls stipulate that each tenant pay a pre-determined percentage of common area maintenance (CAM) expenses.

    • GL, Internal Ref #: General ledger to charge this recurring expense to.

      This is only for information. You must configure your account information when you create your expense types and allocations.

    • Secondary Schedule Allocations:

      • Enter a Secondary Schedule Allocation percentage to allocate a percentage of the expense to a secondary schedule.

        • OR

      • Enter the Secondary Rent Schedule Allocation Amount to allocate an amount of the expense to a secondary schedule.

    • Remit Message: Enter the message you want to appear on the memo line of a check.

    • CPI Index: Select the CPI Index this expense setup should be associated with. To view information about a CPI index, select an index from the field then click ViewA small gray button with a magnifying glass on it. .

      If this not a CPI-indexed expense, do not select a CPI Index. If you are using Daily Rent, this field does not display.

      If you have added a contract-level CPI index, this CPI index is labeled Contract Specific in the CPI Index field. Review our Frequently Asked Questions about CPI Indexes.

    • CPI Notes: Enter notes about your CPI Index. If you use Daily Rent, this field does not display.

    • Payment Method: Select the payment method you will use or create a new group or category.

    • Payment Due Day: Enter the numeric value of due day. For example, if your payment is due on the 15th of every month, enter 15.

      If your payment is due on the last day of the month, enter 0.

    • Proration Method: Proration is disabled in the first period of a re-measured Straight Line schedule, because doing so changes the total obligation. If you use Daily Rent, this field does not display.

      • Annual (actual): When calculating a partial period, the system uses the annual amount divided by the actual number of days in the year. Then, it multiplies by the number of days in the period.

        Normal years use 365 days and leap years use 366 days.

      • Annual 360: When calculating a partial period, the system uses the annual amount divided by 360 days. Then, it multiplies by the number of days in the period.

      • Annual 365: When calculating a partial period, the system uses the annual amount divided by 365 days. Then, it multiplies by the number of days in the period.

        The system uses 365 as the denominator even if it is a leap year.

      • Monthly (actual): When calculating a partial period, the system uses the period amount such as the monthly or quarterly expense amount and divides it by the number of days in that period. Then, it multiplies by the number of days in the period.

    • Apply Tax #1? to Apply Tax #4?: Apply the selected taxes set at the location level.

    • Taxes Included In Amount?: Indicates that taxes are included in the total expense amount.

    • Pay in Arrears?: Select to consider your payments paid at the end of the month. This means interest expense in a schedule will accrue first before the payment is applied. One very distinct outcome of this is that a schedule that is paid at the beginning of the month should not have an interest expense in its last month.

    • A / R Flag: Select if the expense setup record is for an accounts receivable item, also known as an income item.

      As part of their lease, lessees (typically sub-lessees) may sometimes receive a discount if payments are made within a certain period before the payment due date. If you have a clause like this in your lease, you may want to leverage the Early Payment Discount Option for A/R Leases.

    • Reconcilable?: Select if the expense is reconcilable.

    • Ready For Payment: Select if this transaction is ready to be paid.

    • Hold Flag: Informational only. Select if this payment should be held.

    • Include in Planning and Forecasting: Select to make this expense available in the planning and forecasting feature in the accruals area.

      Review the Plan / Forecast page.

    • Plan / Forecast Group: If you selected Include in Planning and Forecasting, select the plan / forecast group to associate this expense setup with or create a new group or category.

    • Planning and Forecasting Notes

    • Comments, Additional Information

    • Covenant: To associate this expense setup with a covenant, select the covenant.

    • Section: Section of the covenant that refers to this expense setup.

    • Amendment: Select Amendment this recurring expense is associated with. To view the details of an amendment, click ViewA small gray button with a magnifying glass on it. next to Amendment.

  3. Click Save Changes in the Actions menu on the rightmost side of the page.

    The page refreshes. Your new recurring expense appears in the Contract Expense Setup List.

You can also create vendor allocations, expense schedules, escalations, and expense allocations.

ClosedEdit an Expense Setup

To edit an expense setup:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Make your changes.

  3. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedDelete an Expense Setup

To delete an expense setup:

  1. Select the expense setup you want to delete from the Contract Expense Setup List.

    The expense setup data populates on the page.

  2. Click Delete Item.

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

    A dialog opens, asking you to confirm your choice.

  3. Click Yes.

    The page refreshes, and the expense setup is deleted. It no longer appears in the Contract Expense Setup List.

ClosedManage Escalation Rules

The Escalation Rules section of the Recurring Expenses page contains all fields related to escalations.

To manage your escalation rules:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

  2. Scroll down to the Escalation Rules heading.

  3. Do one of the following:

    • Enter your escalation ceiling amount in the Amount Increase Cap field.

    • Enter your escalation ceiling percentage in the Percent Increase Cap field.

      These fields cap both CPI and non-CPI escalations.

  4. Enter your CPI index multiplier in the CPI Multiplier field.

    Often in rent agreements, the CPI is based on a specified multiplier times the ratio of CPI indexes at the time of the retro payment and at the time of the CPI retro payment expense setup. This means, for example, that if the CPI index rate is listed as 2.34% and the multiplier is entered as 0.5, the applied CPI index rate would be 1.17%. With a multiplier of 2, the CPI index rate would be 4.68%.

    The CPI Index Multiplier follows these rules:

    • By default, the value of the CPI Index Multiplier is 1.

    • Any value greater than 0 is allowed.

    • If a value of 0 or less is entered, the system returns an error message that reads, The value of the multiplier should be a number greater than zero, with 1 giving the nominal value.

  5. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedManage Vendor Allocations

Vendor Allocations are used to specify who or what company will be paid on an expense setup.

Your vendor allocations must total 100%.

Allocations are processed in order from largest to smallest. The smallest allocation will receive what remains of a payment. This means that it is very important that vendor allocations are entered correctly. For example, if two vendors have been entered as having a 60-50 split when the allocation should have been 50-50, the first vendor would be paid 60%, while the second would be paid 40%.

If a vendor allocation does not exist, transactions will still be generated with an empty Vendor field.

Any changes to the vendor allocation will set current and future expense schedule statuses to Review. They will need to be approved using the Approvals Process procedures.

ClosedAdd a Vendor Allocation

To add a vendor allocation:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

  2. Scroll down to the Vendor Allocations table.

  3. Click Add Expense Vendor Allocation in the Vendor Allocations table.

    The Add Expense Vendor Allocation window opens.

  4. Select the vendor from the Vendor field.

    To add a vendor, follow the Add a Vendor procedures.

    You can view a vendor’s information by selecting a vendor from the field and then clicking the View A small gray button with a magnifying glass on it. .

  5. Enter the begin date and the end date for the allocation in the Begin Date and End Date fields.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    Important!

    Leave the End Date blank unless you anticipate that your vendor will change.

  6. Enter the allocation percentage in the Payment Percent field.

  7. Enter any comments in the Comments field.

  8. Click Add.

    The window closes. The vendor allocation record appears in the Vendor Allocations table.

  9. Repeat steps 3 – 8 to add additional vendor allocations.

  10. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedEdit a Vendor Allocation

To edit a vendor allocation:

  1. Select the expense setup record whose vendor allocation you want to edit from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Vendor Allocations table.

  3. Click Edit in the Actions column of the record.

    The Edit Expense Vendor Allocation window opens.

  4. Make your changes.

  5. Click Update.

    The Edit Expense Vendor Allocation window closes.

  6. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedDelete a Vendor Allocation

To delete a vendor allocation:

  1. Select the expense setup record whose vendor allocation you want to delete from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Vendor Allocations table.

  3. Click Delete in the Actions column of the record.

    A dialog opens, asking you to confirm your choice.

  4. Click Yes.

    The page refreshes, and the vendor allocation is deleted. It no longer appears in the Vendor Allocations table.

  5. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedManage Expense Schedules and Escalations

The Expense Schedule / Escalations section of the page is where you will generate your expense schedules and any escalations. Your expense schedule determines the amount and frequency of your payment. From this section you can also choose to apply taxes to the expense, change your proration method, opt to pay in arrears, or choose to use our custom payment coverage functionality.

When you create an expense schedule, the Approval Status will automatically populate to Review status. You cannot change the approval status of the expense schedule in the Add Expense Schedule window. The schedule must be approved in the Approve Payment window.

ClosedAdd an Expense Schedule or Escalation

There are two ways to make an expense schedule. You can use the Expense Setup Wizard if you want to create an expense schedule that escalates on a fixed interval, or you can create an expense schedule that does not escalate on a fixed schedule manually.

Any changes made to the expense setup with approved schedules will set the current and future schedules back to Review status. Any changes made to an individual expense schedule that is approved will set the approval status back to Review. To learn how to approve schedules, see the Approvals Process procedures.

ClosedAdd an Expense Schedule that Escalates on a Fixed Interval

To create an expense schedule that escalates on a fixed interval:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

  2. Scroll down to the Expense Schedule / Escalations table.

  3. Click Add Expense Schedule in the Expense Schedule / Escalations table.

    A dialog box opens, asking if you want to use the Expense Schedule Wizard.

  4. Click Yes.

    The Add Expense Schedule window opens.

  5. Enter the begin date and end date of the expense schedule in the Begin Date and End Date fields.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    The Rentable Area and the Area Unit fields should automatically populate.

  6. Enter the starting amount of your recurring expense in the Starting Amount Is field.

  7. Select the appropriate option to indicate the type of starting amount.

    The available options are:

    • Payment Amount

    • Annual Amount

    • Rate

  8. Select the type of escalation from the Type of Escalation field.

    The available options are:

    • None: There will be no escalation.

    • Lump Sum: The recurring expense will escalate by a lump sum, for example: $2,000 every five years.

    • Percent: The recurring expense will escalate by a percentage, for example: 5% every five years.

  9. Enter the number of years between escalations in the Escalate Every (years) field.

  10. Enter the amount or percentage of the escalation in the Amount field.

  11. Click Generate Expense Schedule.

    The window closes. Your expense schedule appears in the Expense Schedule / Escalations table.

  12. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedAdd an Expense Schedule that Does Not Escalate on a Fixed Interval

To create an expense schedule that does not escalate on a fixed interval:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

  2. Scroll down to the Expense Schedule / Escalations table.

  3. Click Add Expense Schedule in the Expense Schedule / Escalations table.

    A dialog box opens, asking if you want to use the Expense Schedule Wizard.

  4. Click No.

    The Add Expense Schedule window opens.

  5. Enter the begin date and end date of the expense schedule in the Begin Date and End Date fields.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  6. Select Hold Flag if this recurring expense should be listed as on hold.

    The Hold flag flows from the recurring expenses to the transaction record to show that the payment is on hold. The Hold flag will NOT prevent rent from being generated. To learn more about the Hold flag, see our article Hold and Processed Flags.

  7. Select Payment Amount or Annual Amount from the Calculate Amounts to tell the system on which amount to base its calculations.

    The Calculate Amounts appears below the Payment Amount, Annual Amount, First Payment, and Last Payment fields.

  8. Choose between three options:

    Important!

    Do not enter 0 in these three fields.

    • Enter the monthly payment amount in the Payment Amount field.

    • Enter the annual payment amount in the Annual Amount field.

    • Enter the rate in the Rate field, for example, $25 per square foot.

  9. If you need to override the value for the First Payment and Last Payment fields, enter the correct value in the appropriate field.

    The system will calculate these values based upon the proration method you chose for your expense setup record.

  10. Enter a description of the expense schedule in the Description field.

  11. Select the adjustment method type from the Adjustment Method Type field.

    Adjustment method types are user-defined and information-only. Common adjustment method types include Consumer Price Indexes (CPIs), Fixed Amounts, and Percentages. This field is used for reporting.

  12. Enter the reasoning for the adjustment in the Adjustment Method field.

    The Adjustment Method is information-only. This field allows you to enter why you made the adjustment.

  13. Select Option Rent to identify the expense schedule record as part of an option, as opposed to an expense schedule included in the original term of the contract.

  14. To override the amount of taxes calculated by the system, enter the dollar amount in the Primary Tax, Secondary Tax, and Tertiary Tax fields in the Override Amount column.

    The system automatically estimates the amount of taxes you will pay based upon the tax rate of your asset’s associated entity.

    Do not enter 0 in these fields. These fields are used in the scenario that a user needs to override a pre-calculated tax amount.

  15. Add any additional comments in the Additional Comments field.

  16. Click Add.

    The Add Expense Schedule window closes. Your new expense schedule appears in the Expense Schedule / Escalations table in the Edit Expense Setup window.

  17. Repeat steps 3 – 16 to add additional expense schedules.

    You can have multiple expense schedules per expense type.

  18. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedEdit an Expense Schedule

To edit an expense schedule:

  1. Select the expense setup record whose expense schedule you want to edit from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Expense Schedule / Escalations table.

  3. Click Edit in the Actions column of the record.

    The Edit Expense Schedule window opens.

  4. Make your changes.

  5. Click Update.

    The Edit Expense Schedule window closes.

  6. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedLink an Expense Schedule to a Contract Term

You can link an expense schedule to a contract term via the Edit Expense Schedule window. If you do not see the Contract Term field, your System Administrator may have created a custom page layout for your company. They will need to create a copy of the global page layout for you to see this field.

To link an expense schedule to a contract term:

  1. Select the expense setup record whose expense schedule you want to edit from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Expense Schedule / Escalations table.

  3. Click Edit in the Actions column of the record.

    The Edit Expense Schedule window opens.

  4. Select the appropriate contract term from the Contract Term field.

    This field appears near the bottom of the window.

    You can click Magnifying Glass A small magnifying glass on a gray square. next to the Contract Term to see details about the term you select.

  5. Click Update.

    The Edit Expense Schedule window closes.

  6. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedDelete an Expense Schedule

To delete an expense schedule:

  1. Select the expense setup record whose expense schedule you want to delete from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Expense Schedule / Escalations table.

  3. Click Delete in the Actions column of the record.

    A dialog opens, asking you to confirm your choice.

  4. Click Yes.

    The page refreshes, and the expense schedule is deleted. It no longer appears in the Expense Schedule / Escalations table.

  5. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedManage Expense Allocations

Expense allocations are used to specify which departments or organizations an expense will be associated with.

Note:

Your expense allocations must total 100%.

ClosedAdd an Expense Allocation

To add an expense allocation:

  1. Select the expense setup record you want to edit from the Expense Setup List at the top of the page.

  2. Scroll down to the Expense Allocations table.

  3. Click Add Expense Allocation in the Expense Allocations table.

    The Add Expense Allocation window opens.

  4. Enter the begin date and the end date for the allocation in the Begin Date and End Date fields.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  5. Enter the allocation percentage in the Allocation Percentage field.

  6. Select the organization from the Organization field.

    An organization is an internal cost center that is debited for payments.

    To add an organization, follow the Add an Organization procedures.

    You can view a organization’s information by selecting an organization from the field and then clicking the View A small gray button with a magnifying glass on it..

  7. Enter any comments in the Comments field.

  8. Click Add.

    The window closes. The expense allocation record appears in the Expense Allocations table.

  9. Repeat steps 3 - 8 to add additional expense allocations.

  10. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedEdit an Expense Allocation

To edit an expense allocation:

  1. Select the expense setup record whose expense allocation you want to edit from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Expense Allocations table.

  3. Click Edit in the Actions column of the record.

    The Edit Expense Allocation window opens.

  4. Make your changes.

  5. Click Update.

    The Edit Expense Allocation window closes.

  6. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedDelete an Expense Allocation

To delete an expense allocation:

  1. Select the expense setup record whose expense allocation you want to delete from the Expense Setup List at the top of the page.

    The expense setup data populates on the page.

  2. Scroll down to the Expense Allocations table.

  3. Click Delete in the Actions column of the record.

    A dialog opens, asking you to confirm your choice.

  4. Click Yes.

    The page refreshes, and the expense allocation is deleted. It no longer appears in the Expense Allocations table.

  5. Click Save Changes.

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

    The page refreshes. Your changes are saved.

ClosedAudit Log

These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.

To view the audit log:

  1. Select the record whose audit log you want to view from the list at the top of the page.

  2. Click Audit Log.

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

    The Audit Log window opens, displaying a list of changes.

    There are three click-able areas in the Audit Log:

    • If you click a link in the Entity column a window will open with all activity for the associated entity.

    • If you click a link in the Item ID column a window will open with all activity for a specific item, such as a straight line summary record for a contract. The Item ID is a unique identifier that persists indefinitely for that particular record.

    • Occasionally items in the Old Value or New Value columns will be hyperlinked because those fields are hyperlinked in the system. These hyperlinks have no associated functionality.

ClosedCreate printable view

You can create a printable view of the data on the page.

  1. If the page has a list layout, select the record you want to print from the list at the top of the page.

  2. Click Printable View.

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

    A window opens, with the page data in a printer-friendly format.

  3. Print the contents of the window.

ClosedGenerate Rent

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:

Important!

If payments are approved before they are generated, they will be ready to process immediately after generation. Generating payments will create transactions for ALL expense setups within the specified time period.

  1. Click Generate Rent.

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

    The Generate Payments window opens.

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

  3. Select the payment year from the Year field.

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

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  5. 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

  6. 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 A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

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

    All Portfolios is selected by default.

  8. Use the Where Payment Due Day fields to filter the contracts for which you want to create transactions.

    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.

  9. 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.

  10. To view the generated transaction on a contract record, navigate to Contract > Payment Info > Transactions.

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

    The transaction appears in the Transactions list.

  11. To view the audit log for the transaction:

    1. Navigate to Contract > Payment Info > Transactions.

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

    2. Select the transaction from the Contract Payments List.

    3. Click Audit Log.

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

      The Audit Log window opens, displaying the history of the transaction.

  12. 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 link 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.

ClosedCopy Expense

The Copy Expense button allows you to copy an expense setup record including its vendor allocations, expense schedules, and expense allocations.

To copy an expense setup:

  1. Select the expense setup you want to copy from the Expense Setup List at the top of the page.

  2. Click Copy Expense.

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

    The Recurring Expense Copy window opens.

  3. Select the check boxes of the types of records you want to copy:

    • Vendor Allocation: Only copy vendor allocation records where the vendor is active

    • Expense Schedule

    • Expense Allocation

  4. Click OK.

    The window closes. The expense setup is copied.

    The Expense Type on your new Expense Setup record is blank. You must update it manually.

ClosedChange Vendor

To change the vendor of one or more expense setup records:

  1. Click Change Vendor.

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

    The Change Vendor window opens.

  2. Select the old vendor you will no longer be using from the Old Vendor field.

    To add an employer, vendor, or legal party, follow the Add a Vendor procedures.

    You can view an vendor’s information by selecting a vendor from the field and then clicking the View A small gray button with a magnifying glass on it. .

  3. Select the new vendor you will be using from the New Vendor field.

    To add an employer, vendor, or legal party, follow the Add a Vendor procedures.

    You can view an vendor’s information by selecting a vendor from the field and then clicking the View A small gray button with a magnifying glass on it. .

  4. Enter the effective date of the vendor change in the Effective Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  5. Select the expense setup records you want to change from the table.

  6. Click Change Vendor.

    The page behind the window refreshes. A success message appears at the top of the window, summarizing the changes.

  7. Click Close.

    The window closes.

  8. Select one of the expense setup records you changed from the Contract Expense Setup List.

  9. Scroll down to the vendor allocation section of your expense setup record.

    The new vendor allocation record appears in the table.

ClosedRetro Payment

The retroactive payments functionality is used to make changes to the expense schedule retroactively and create catch-up payments. To see an example retroactive payment scenario, see our Example Retroactive Payments Scenario article.

Users can also set aside funds for expected retroactive payments using the Estimated Accruals tool.

To add a retroactive payment:

  1. Select the expense setup record you want to create a retro payment for from the Contract Expense Setup List table.

  2. Click Retro Payment.

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

    The Retro-Payment Setup window opens.

  3. Enter the date that the change takes (or took) effect in the Retro Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    The Retro Date must occur prior to the New Effective Date. In a retro payment, the adjustment is a date in the past, with an adjustment to expense schedules being made after the date has passed. This is why a catch-up payment is needed between the retro date and the date the new expense schedules take effect.

  4. Enter the date that the new schedule will begin in the New Effective Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  5. Select the Stop Payment on New Effective Date?check box if you want to stop all payments on the listed expense.

  6. Enter the following dates in their respective fields:

    • New End Date

    • Posting Date

    • Due Date

      You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    Note:

    The Percent Increase Cap will only populate if you have populated the Percent Increase Cap on the expense setup record.

  7. Select whether this revised payment will be charged as an amount or as a percentage from the New Amount / Percent Increase field.

  8. Enter the new payment amount in the New Payment Amount field.

    Important!

    Do not enter your catch-up payment amount in this field. The system will calculate your catch-up payment automatically. The amount that should be entered in this field is the new recurring payment amount.

  9. Select the options you want:

    • Send Email?: Send yourself a confirmation email once the retro payment has been created.

    • Use posting date for vendor allocation?: Select to allocate your catch-up payments according to the current vendor allocations. Clear, if the catch-up payment needs to be split between the current and previous vendor allocations.

    • Mark Retro Payments as One-Time Payments?: Mark this retro payment as a one-time payment.

    • Create Retro Payment as One Lump Sum?: Create the retro payment as a lump sum payment.

      If cleared, the catch-up amount is distributed in monthly payments evenly between the retro date and the new effective date.

  10. Enter a description of the payment in the Payment Description field.

  11. Enter a remit message in the Remit Message field.

  12. To preview a summary of the changes that will be made once the retroactive payment is created:

    1. Click Preview Payment.

      A Preview window opens.

    2. Click the link above the OK.

      A second Preview window opens.

    3. Click Cancel to exit the window.

      The second Preview window closes.

    4. Click OK to exit the first Preview window.

      The first Preview window closes.

  13. Click Create Payment.

    A Success dialog box opens, confirming that the retroactive payments were created.

ClosedCPI Adjustment Retro Payment

The retroactive payments functionality is used to make changes to the expense schedule retroactively and create catch-up payments. This is our recommended path for making a manual adjustment to a schedule for CPI (Consumer Price Index) changes because index data are usually populated retroactively, and landlords usually notify lessees of a change in rent after the date the change should become effective.

As of 21.06, you can also make CPI Adjustments in bulk.

ClosedHow Lucernex Calculates CPI-Indexed Rent

When a CPI adjustment is made, two values are pulled from the associated CPI table:

  • The base CPI index, which is from the month and year of the expense setup if there has been no ASC 842 re-measurement done; or from the month and year of the ASC 842 re-measurement if that's been done.

  • The current CPI index, which is from the month and year of the retro date of the CPI adjustment being made

Then the ratio of the two values is calculated. The CPI increase is calculated from this ratio, based on the base rent as of the retro date and the ratio calculated in the previous step.

This CPI increase will never be below 0, even if the current CPI index is lower than the base CPI index. This way, the total CPI-indexed rent will never be lower than the fixed base rent. However, as the CPI index fluctuates up or down, the amount of the CPI expense above base rent may either increase or decrease.

If there are catch-up payments due, they will be calculated by taking the difference between the new and previous CPI-increase schedule amounts.

Important!

If you create a retro payment based upon a CPI increase, you will need to remeasure your IFRS schedule. CPI increases do not impact ASC 842 schedules.

To create a retro payment based on a CPI adjustment:

  1. Select the expense setup record you want to create a retro payment for from the Contract Expense Setup List table.

  2. Click Retro Payment.

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

    The Retro-Payment Setup window opens.

  3. Enter the date that the change takes (or took) effect in the Retro Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    The Retro Date must occur prior to the New Effective Date. In a retro payment, the adjustment is a date in the past, with an adjustment to expense schedules being made after the date has passed. This is why a catch-up payment is needed between the retro date and the date the new expense schedules take effect.

    Important!

    The Retro Date is the date the CPI-indexed increase should take effect, and the CPI index data is fetched according to this date.

  4. Enter the date that the new schedule will begin in the New Effective Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  5. Select Stop Payment on New Effective Date? to stop all payments on the listed expense.

  6. Select the CPI-index Adjustment.

  7. Do one of the following:

    • If you want to use CPI index data loaded into Lucernex to calculate your retro payment:

      Important!

      If you are going to create a retro payment based upon a CPI index, you must first associate the expense setup record with the CPI Index.

      1. Select the Use Index Data for Increase check box.

        The New End Date and the New Payment Amount fields automatically populate. Several CPI fields appear in the right column of the window. These information in these fields include the index name assigned to the expense setup, the begin date of the CPI index, the base payment amount for the expense setup, the base CPI, and the retro CPI.

      2. Proceed to step 8.

    • If you want to manually specify your CPI index adjustment:

      Note:

      A good use case for when this method would be used is when the landlord has sent a letter where the rate increase is specified—either an amount or a percentage—and you have:

      1. validated that this is the right increase outside the system,

      2. you haven’t uploaded the index relevant to the contract, or

      3. you want to override the amount that would have been automatically calculated based on the index.

      In this case, the CPI increase can be added manually without the system calculating it for you.

      1. Enter the following dates in their respective fields:

        • New End Date

        • Posting Date

        • Due Date

          You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

        Note:

        The Percent Increase Cap will only populate if you have populated the Percent Increase Cap on the expense setup record.

      2. Select whether this revised payment will be charged as an amount or as a percentage from the New Amount / Percent Increase field.

      3. Enter the new payment amount in the New Payment Amount field.

        Important!

        Do not enter your catch-up payment amount in this field. The system will calculate your catch-up payment automatically. The amount that should be entered in this field is the new recurring payment amount.

      4. Proceed to Step 8.

  8. Select the options you want:

    • Send Email?: Send yourself a confirmation email once the retro payment has been created.

    • Use posting date for vendor allocation?: Select to allocate your catch-up payments according to the current vendor allocations. Clear, if the catch-up payment needs to be split between the current and previous vendor allocations.

    • Mark Retro Payments as One-Time Payments?: Mark this retro payment as a one-time payment.

      Clear to populate catch-up payments as a short-term recurring expense schedule.

    • Create Retro Payment as One Lump Sum?: Create the retro payment as a lump sum payment.

      Clear to distribute the catch-up amount in monthly payments evenly between the retro date and the new effective date.

  9. Enter a description of the payment in the Payment Description field.

  10. Enter a remit message in the Remit Message field.

  11. To preview a summary of the changes that will be made once the retroactive payment is created:

    1. Click Preview Payment.

      A Preview window opens.

    2. Click the link above the OK.

      A second Preview window opens.

    3. Click Cancel to exit the window.

      The second Preview window closes.

    4. Click OK.

      The first Preview window closes.

  12. Click Create Payment.

    A Success dialog box opens, confirming that the retroactive payments were created.

    Note:

    If you used the method specified in the first bullet of step 7, you can see your CPI retro payment schedule on the Recurring Expenses page. To view the CPI retro payment schedule, scroll down to the Expense Schedule / Escalations section. The Is CPI? check box will be selected in the Is CPI? column of the CPI retro payment schedule.

ClosedGenerate a Retro Payment for Daily Rent

The retroactive payments functionality is used to make changes to the expense schedule retroactively and create catch-up payments.

Users can also set aside funds for expected retroactive payments using the Estimated Accruals tool.

To see an example retroactive payment scenario, see our Example Retroactive Payments Scenario article.

Important!

For expense schedules with a daily rate setup, the pop-up window for creating retro adjustments will not allow for CPI-indexed rent.

To generate a retroactive payment for daily rent:

  1. Navigate to Contract > Payment Info > Recurring Expenses.

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

  2. Select your expense setup page layout from the field to the left of the Actions menu, if it is not your default page.

  3. Select the expense setup you want to create a retro payment for from the Expense Setup List.

    The expense setup's data populates on the page.

  4. Click Retro Payment.

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

    The Retro-Payment Setup window opens.

  5. Enter the date that the change takes (or took) effect in the Retro Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    The Retro Date must occur prior to the New Effective Date.In a retro payment, the adjustment is a date in the past, with an adjustment to expense schedules being made after the date has passed. This is why a catch-up payment is needed between the retro date and the date the new expense schedules take effect.

  6. Enter the date that the new schedule will begin in the New Effective Date field.

    You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

  7. Select the Stop Payment on New Effective Date?check box if you want to stop all payments on the listed expense.

  8. Enter the following dates in their respective fields:

    • New End Date

    • Posting Date

    • Due Date

      You can also click Calendar A small button with a picture of a calendar on it. to open the Date Picker and select the appropriate date.

    Note:

    The Percent Increase Cap will only populate if you have populated the Percent Increase Cap on the expense setup record.

  9. Select whether this revised payment will be charged as an amount or as a percentage from the New Amount / Percent Increase field.

  10. Enter the new daily rent rate in the New Daily Rent Rate field.

    Important!

    Do not enter your catch-up payment amount in this field. The system will calculate your catch-up payment automatically. The amount that should be entered in this field is the new daily rent rate.

  11. Select or clear the following check boxes according to your preferences:

    • Send Email?: Send yourself a confirmation email once the retro payment has been created.

    • Use posting date for vendor allocation?: Select if your catch-up payments need to be allocated according to the current vendor allocations. Clear to split the catch-up payment between the current and previous vendor allocations.

    • Mark Retro Payments as One-Time Payments?: Mark this retro payment a one-time payment.

    • Create Retro Payment as One Lump Sum?: Create the retro payment as a lump sum payment.

      Clear to distribute the catch-up amount in monthly payments evenly between the retro date and the new effective date.

  12. Enter a description of the payment in the Payment Description field.

  13. Enter a remit message in the Remit Message field.

  14. To preview a summary of the changes that will be made once the retroactive payment is created:

    1. Click Preview Payment.

      A Preview window opens.

    2. Click the link above the OK.

      A second Preview window opens.

    3. Click Cancel to exit the window.

      The second Preview window closes.

    4. Click OK.

      The first Preview window closes.

  15. Click Create Payment.

    A Success dialog box opens, confirming that the retroactive payments were created.

ClosedSave to Documents

You can save a page to your documents.

  1. Click Save to Documents.

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

    A window opens.

  2. Select the folder where you want to save the document from the Folder for Generated Document field.

  3. Enter a File Name.

  4. Select Send email notifications? to send an email notification to anyone who is a member of the folder.

  5. Click Save.

    The window closes. The document is saved.

  6. To view your document:

    1. Navigate to the Documents page.

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

      The Documents page is a third-level tab under the Details sub-tab.

    2. Navigate to the folder where you saved the document.

      The document will appear in the folder.

ClosedLink

These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.

The Link provides direct links and XML data for exports into TRAIN.

  • To access the Links to this page window, click Link.

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

    The Links to this page window opens.

Entity Links

  • Page URL for current [Entity]: Provides the link for the current page in the UI.

  • Page URL for [Entity] '[Name Here]': Provides a direct link to the page in the UI for the specific entity that you are currently viewing.

    This URL is useful when you want to share a direct link to a page via email.

  • Top Menu Item URL for current [Entity]: Provides a direct link to this page for use in your top menu.

Export as XML Options

To export XML data for this page:

  1. Enter any XML elements you want to include in the XML element includes field.

  2. Enter any XML elements you want to exclude in the XML element excludes field.

  3. Select or clear the following check boxes as necessary:

    • Want firm defined fields: Include your user-defined fields.

    • Want referenced records: Include referenced records, such as location data for a contract.

    • Include all records of this type: Include all records of a particular entity type, such as a contract, location, or portfolio.

    • Importing into a different firm / env: Select if you will be importing this data into a different firm or environment.

  4. Click Export.

    The export processes. An Export Status window opens.

  5. Click Save XML File.

    A Save dialog box opens.

  6. Save the file somewhere you will be able to find it on your computer.

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