Why Property Manager does Proration of Payment Amount when the Lease is Starting in the Middle of the Month ?
(Doc ID 2743454.1)
Last updated on JANUARY 12, 2021
Applies to:
Oracle Property Manager - Version 12.1.3 and laterInformation in this document applies to any platform.
Goal
Why Property Manager does Proration of Payment Amount When the Lease is Starting in the Middle of the Month ?
Example:
Lease has Billing Term with Below details:
Start Date: 05-Jan-2021
End Date: 04-Jan-2022
Schedule Day: 5
Actual Amount: 5000
Frequency: Monthly
Result:
13 Cash Items over 13 periods (Months) are generated:
1st Period ==> from 05-Jan-21 Until 31-Jan-21 (27 Days)
11 Periods ==> divided equally from Feb-21 until Dec-22 (11 Full Periods "Months" )
13th Period ==> from 01-Jan-22 Until 04-Jan-22 (4 Days)
Solution
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In this Document
| Goal |
| Solution |
| References |