For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". Discount reporting is specific to customers using the Client/Trust Accounting functionality. It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.
This article guides you through the process of reporting on discounts provided at the property or tenancy level. Being able to track such discounts is important for maintaining accurate financial records, especially when dealing with promotions or special rates offered to tenants. We aim to simplify this process for you to ensure your accounting records are clear and up-to-date.
Understanding Discount Reporting
With discount reporting for tenancies, you can track any special rates or concessions granted to tenants. Whether these are for promotional reasons, loyalty considerations, or other circumstances that warrant a discount, it's crucial to document them properly for accounting clarity.
Note: On a Tenancy's Rent template, the auto-calculated Annual Rent amount can be overridden so that you can report on the pre-discounted amount.
How to Report on Discounts
To get started on reporting discounts for your properties/tenancies, simply follow these instructions:
- From Reports, navigate to the Report builder or Tenancy Schedule.
- Run the report and click on the Columns button.
- Go to the Select Columns tab
- Scroll down to the Tenancy section and select the Rent Discounts ($/annum) and/or Outgoings Discounts ($/annum).
- Click the Apply Changes button.
- Click the Columns button again and arrange the columns to suit your preferences.
- Click the Apply Changes button.
- Select the appropriate display options and any additional filtering criteria required and then Run the report.
- Review the report to ensure all discounts have been correctly applied and accounted for.
Included is a video tutorial to guide you through the reporting process. This video demonstrates where to find the reporting and the steps to display discounts in your reports.