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Former Member

ReFx-Other than Rent, there are other source of income

Hi All,

Pls Suggest on this.

A Client where ReFx is implemented, they also have other source of income as below,

S

1. Common area maintenance- Invoiced on the basis for AREA and a fixed rate per sft per month

2. Business park maintenance - Invoiced on the basis for AREA and a fixed rate per sft per month

3. Licence fee Invoiced on the no of installations with fixed charges per month

4. F & B area maintenance Invoiced on the basis for AREA and a fixed rate per sft per month

5. Central avenue maintenance- Lumsum based on the agreement

6. Amenity and services Invoiced on the basis for AREA and a fixed rate per sft per month

7. Car Parking fees Invoiced based on the no of slots and agreed rate per month

8. Casual leasing charges one time billing based on the contract

9. Parking charges based on the usage

10. Others Case to case basis


They also have seperate department called Property Managment to handle these.


Can we propose a seperate contract type for each of these...


Some of these even doesn't requires rental object references and not area dependant. How to handle these. Can all these income sources handled through ReFx.


BR

Subbu.




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2 Answers

  • Jun 04, 2015 at 01:10 AM

    Hi,

    You can have difference contract type or different condition type as per client's requirement.

    Regards,
    Bowen

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    • Former Member Former Member

      Hi,

      Yes, it is possible to create contracts without RO. For the calculations done on AREA/Slots you can use Differing Measurements in the contracts.

      I am not clear with your requirement of "Other key point here is Rental and property managment are two different profit centers here, so can we use the same rental units"

      Since we dont know the scenario for which you are posting, so cant comment on the accounting entry.

      Regards,

      Sid

  • Jun 15, 2015 at 05:39 AM

    Dear SP Subbu,

    Seems to be all these charges are getting from the customer based on your rental agreement against your rental object.

    Since your charges are pre fixed You can maintain all these charges under one contract with different conditions, where ever one time charges are there you can control them by using condition purpose.

    It will reduces the data managing time with less no of transactions , So that your reporting will also be easy.

    Or if you want to maintain separate contract type based on the services it will also be possible.Here you can maintain different profit centers for each contract also.

    Then you can maintain the conditions without rental objects also, but it wont have reference to track in future from which rental unit this income is getting generated, if your business requirement matches you can use it.

    Hope it may helps you.

    Regards,

    Rao

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