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      How to handle Pro-Rata payments
      • 26 Jan 2024
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      How to handle Pro-Rata payments

      • Updated on 26 Jan 2024
      • 1 Minute to read
      • Contributors
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      Article summary

      Scenario:

      Lease Commencement day is in the middle of the month, and for the first period payment amount and Depreciation must depend on number of days in the first period.

      1. To enable Pro-Rata functionality go to Role Center->Admin->Setup. In “System Feature Configuration” tab enable flag on “Use Pro-Rata Payments”. You can also enable Use Pro-Rata for RoU to calculate depreciation on split also.
        image.png

      2. Make sure that Commencement Date in Lease agreement is somewhere between the first and last day of the month. In Lease Agreement Card choose one of the options (“First Period” or “First And Last Period”).
        image.png

      3. Open “Lease Payment Schedule” to see changes in the first or first and last payment amounts (depends on Pro-Rata option).
        "First Period"
        Liabilities
        image.png

      RoU :
      image.png

      "First and Last Period"
      Liabilities
      image.png

      RoU
      image.png

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