Setting Up Fees and Commissions (Connected & Standalone Accounts)

This article serves as a step-by-step guide to setting up fees or commissions for your company within Re-Leased. Note that this does not cover late fees or Client/Trust Account fees. You'll find links to detail those specifics. Let's ensure your company is ready to accurately handle these fees with confidence.

Assigning Contacts

Before diving into fee setup, it's essential to ensure that ownership details are linked to properties correctly and the 'From' contact for fee invoices is designated:

1. Check that all properties have an Owner Contact assigned.
2. Set the 'From' contact for fee expense invoices under Settings > Manage Companies > Edit Company > Invoicing > Fee Invoices.
   
   

Create a Fee Rule

With your contacts assigned, move on to crafting fee rules:

1. Go to Settings > Fees. The company you're configuring should be displayed at the top.
2. Since fees are exclusive to each company, confirm you're setting them up for the right one.
3. Select Create New Fee Rule Definition.
4. Enter a title for your fee and select either a Property Fee or Tenancy Fee as the Fee Type.
5. Decide when the fee will be charged under Raised at occurrence of.
6. Link the fee to the appropriate accounts from the Chart of Accounts.
   
   

Understanding Different Fee Types and Triggers

Each fee type has unique characteristics:

• Property Fees: Applicable per property, customizable for both income and expense account codes.
• Tenancy Fees: Applicable per tenancy and linked directly to the owner. For tenant-related charges, consider an income invoice.

And here are some common triggers to understand:

• On a Date Schedule: For regular fixed fees set to recur on a schedule.
• Rent Demanded: Fees based on 'rent' invoices which include all items on the rent template (use Money In/Out of an Account for rent-exclusive fees).
• Rent Receipted: Fees tied to receipted 'rent' invoices, which can be automated through tenant's rent template (opt for Money In/Out of an Account for rent-only fees).
• Money In/Out of an Account: Use this when you need different fee rates for combined rent and operating expenses/service charges on an invoice, or for expense invoices related to the property.
  
  

Customizing Your Fees

Once you've designed a fee rule, tweak it by:

1. Selecting the expense code the fee will record against.
2. Filling in the fee amount or rate, applicable to new accounts if desired.
3. Setting an effective date and aligning the fee with a rental period, if necessary.

You may also modify fees for individual properties or tenancies once the rule is established.

Selecting and Confirming Fee Application

To finish setting up the fee rule:

1. Select the properties or tenancies the fee rule will apply to, and uncheck any that it shouldn't.
2. Use the filter feature to help make selections easier.
3. Review the details of your fee rule, make any final adjustments, and Save to confirm and apply fees accordingly.

With these steps, your fees are now in place and ready for action.