Add a Payment

You can add Payments to Leases from the Lease home page. Once added, the Payment appears on the Lease home page in the Payments pane. In Siterra, you can create One Time Payments and Recurring Payments.

One Time Payments

One Time Payments can be created in instances where a Payment occurs once, such as a repair bill.

1. Navigate to a Lease home page.

2. Scroll to the Payments pane.

3. In the toolbar of the Payments pane, click Add.

   A new window appears.

4. Complete the Details pane of the form, including the following fields:

   • Name: Enter a name for the Payment.

     If this field is left blank, it is automatically populated based on the Type field.

   • Number: Enter a Payment number.

     If this field is left blank, it is automatically populated.

   • Type: Designate a Payment type.

     Depending on the type selected, additional fields may appear. For more information, see Payment Types.

   • Payable/Receivable: Select whether the cash flow is incoming (payable) or outgoing (receivable).

   • Phase: Select the development phase.

     This field allows users to track Payments across the various phases of a project.

   • Link Document: Select a document from the Lease Library to link to the Payment.

     The Page and Paragraph fields correspond to the linked document.

   • Description: Enter additional details.

     Required fields are marked with a red asterisk (*).

5. In the Is Recurrent? field, select One Time.

6. Enter a date in the Due Date field.

7. Complete the various fields in the Cost Currency and Cost panes, including the following:

   • Currency: Select a currency denomination.

     This field is automatically populated with the Lease currency denomination. You can select a different currency for a specific Payment using the Line Currency drop-down menu.

   • Rentable Area: Enter a value for the rentable area associated with the Payment.

     This field is automatically populated with the Lease rentable area.

   • Payment Method: Select the method by which the Payment is paid.

     This field is for informational purposes only.

   • Credit Terms: Select credit terms for the Payment.

8. If necessary, complete the Discount field.

9. In the Payment Details pane, select the Invoiced? check box if the Payment is invoiced.

10. To automatically navigate to the Payment home page once the Payment is created, select the Take me to the new object check box.

11. When the form is complete, click Save.

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

Recurring Payments

Recurring Payments can be created for ongoing Payment streams such as rent or an electric bill.

1. Navigate to a Lease home page.

2. On the Lease home page, navigate to the Payments pane.

3. In the toolbar of the Payments pane, click Add.

   A new window appears.

4. Complete the Details pane of the form.

5. In the Is Recurrent? field, select Recurring.

   Additional fields appear on the form, including the following:

   • Payment Schedule: Select Advance (default) if the payment is in advance of the accounting period specified by Start Date and End Date. Select Arrears if the payment is for the preceding accounting period specified by Start Date and End Date.

   • Frequency: Specify how often this payment should be made.
   • Prorate Escalations: This check box is automatically selected. The Prorate Escalations check box allows the system to automatically calculate prorated costs for partial periods. When the Prorate Escalations check box is selected, the Schedule by Calendar Month check box is automatically selected as well.

   • Schedule by Calendar Month: This check box is automatically selected and determines whether the payment schedule automatically starts on the first day of each month.

   • Prorating Method: Define the method by which the proration of mid-period escalation costs is calculated.

   • Start Date: Enter the date on which payment begins. If Payment Schedule is set to Advance, this is the date of the first payment, prorated or otherwise. If Payment Schedule is set to Arrears, this is the start of the payment schedule.

   • Second Payment Date/First Arrears Payment: If Payment Schedule is set to Advance, this is the date of the full second payment. If Payment Schedule is set to Arrears, this is the date of the first full payment.

   • End Date: Enter the date on which the last payment occurs.

   • Term (Months): This field is automatically calculated based on the Start Date and End Date fields.

   • Number of Lines: This field is automatically calculated based on the Start Date, Second Payment Date, and End Date fields.

6. Complete the various fields in the Cost Currency and Cost panes, including the following:

   • Per Payment: Enter the planned Payment amount per payment period.

     If the Rentable Area field is populated, the Per Area Unit Per Payment is automatically calculated when data is entered in the Per Payment field.

     Data entered in the Per Area field causes the Per Payment field to automatically calculate.

   • Monthly Cost: This field is automatically calculated based on the Per Payment field.

   • Annual Cost: This field is automatically calculated based on the Per Payment field.

   • Estimated Total Cost: This field is automatically calculated based on the Per Payment field.

7. If necessary, complete the Discount pane.

8. In the Payment Details pane, select the Invoiced? check box if the Payment is invoiced.

9. If desired, select the Take me to the new object check box to automatically navigate to the Payment home page once the Payment is created.

10. When the form is complete, click Save.

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