Fixed increase payments
  • 26 Jan 2024
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Fixed increase payments

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Article summary

Scenario:

User needs to create lease agreement with fixed increase lease payments. Increase rate is 5% every 12 months.

  1. In Lease Setup mark “User Fixed Increase Paym. Sched.” tick to make related fields visible on lease agreement card.
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  2. In lease agreement card, enter, “Fixed Increase Rate, %”, “Fixed Increase From Period No.” and “Fixed Increase Freq. (Payment Periods)” on Payments Tab. Choose “Payment Schedule” action on the lease card to review payment schedule with fixed increase by 5% every 12 months.
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How it is calculated depends on field just below in Lease Setup "Fixed Increase Calculation Method". It has values Original or New.
With Original set it calculates first period freq. as base one so update is only from 13th period.
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With New as option it calculates from very start of Period from No.
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