Recoveries - Contract Module

Use the Recoveries section of the Contract module to track the reconciliation process. Track landlord invoices and generate transactions for any payments that are due. For example, when landlords send invoices to lessees summarizing the landlord’s view of the tenant’s share of common expenses at the end of the reconciliation period. Lucernex stores your recovery data from prior years, making subsequent recoveries much simpler.

1. Go to Contract > Payment Info > Recoveries.

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

2. In the upper right corner next to the Actions menu, select the page to display and enter your recovery information.

   • Contract Expense Recovery: Define the pro-rata share at the group level.

   • Contract Expense Recovery (Net): Define the pro-rata share at the line item level.

   We recommend that you choose a page and only use that page when you add or update information. This is important when you initially configure your recovery. Once you process your first recovery, the Lucernex remembers the page you used. The other page is still available for selection, but the values on the page might not be relevant or useful.

   A recovery setup can sometimes include some gross expense types and some net expense types.

Manage your recovery records:

• Add a recovery record manually or use the Recovery Setup Wizard.

• Delete recovery records that are not yet marked complete.

• Reconcile recovery records.

Update Escrow