Add Percentage Rent Payments

You can add Percentage Rent Payments to Leases from the Lease home page. Once added, the Payment appears on the Lease home page in the Payments pane.

Navigate to a Lease home page.
Scroll to the Payments pane.
In the toolbar of the Payments pane, click Add.

A new window appears.
Complete the Details pane of the form, including the following fields:
- Type: Select Percentage Rent. The Percentage Rent pane appears on the form.
- Payable/Receivable: Select the Payable radio button. Percentage Rent Payments must be Payable and Recurring.
- Used For 'Greater of 3' Calculation: Select this check box to enable the Greater of 3 calculation option.
Complete Scheduling pane of the form.
Complete the Percentage Rent pane of the form, including the following fields:
- Rent Year Begins: Select the month by which breakpoints compound.
- Payment Period Ends: This field is defined by the frequency terms entered in the Scheduling pane.
- Breakpoint Period: Select the defined period for which the breakpoint is calculated.
- Reporting Period: Select the Gross Sales reporting obligation for the Lease.
- Cap Period: Select the cap period if applicable. If a selection is made in this field, the Cap Amount field appears.
- Cap Amount: Enter the cap amount.
- Year to Date: Select this check box to choose between annualized or cumulative breakpoints.
- Year End Reconcile: Select this check box to reconcile balances owed when the minimum threshold is not met.
  
  Selecting this check box enables the Reconcile button on the toolbar for Percentage Rent Payments.
- Hold for Manual Adjustment: Select this check box to prevent the Payment from being paid unless a manual review is performed.
Complete the remainder of the form.
When the form is complete, click Save.

The Percentage Rent Payment appears in the Payments pane of the Lease home page.

Once the Percentage Rent Payment has been created, the following settings must be completed prior to Payment Line generation: