6 - Lease Defaults
- Begin Date
The date the lease term begins or a log line or an item becomes effective.
- End Date
The date the lease term or an item ends.
- Building
The business unit that identifies the building or property.
- Unit
The number that identifies the actual space within a building that is leased or is available for lease, , such as an apartment, office, retail space, parking space, and so on.
- Address Number
The address book number of the company or person named as the lessee or lessor on the lease.
- Alternate Payee
The address book number of the person or company responsible for payment of rent and charges related to the lease. This number might not be the same as the number of the tenant.
- Payment Terms
A code that indicates the default payment terms for a customer. Payment terms determine the due date, discount amount, and discount due date that the system assigns when you create an invoice. Use a blank code for the payment terms that you use most frequently. Examples of payment terms include:
Blank: Net 15
1: 1/10 net 30
2: 2/10 net 30
D: Due upon receipt
N: Net 30
P: Prox 25
- Tax Expl Code
A hard-coded user defined code (00/EX) that controls the algorithm that the system uses to calculate tax and G/L distribution amounts. The system uses the tax explanation code in conjunction with the tax rate area and tax rules to determine how the tax is calculated. Each transaction pay item can be defined with a different tax explanation code.
- Tax Rate/Area
The system checks if the building belongs to a company with the alterative tax rate/area company constant enabled. In that case, it assigns the alternative tax rate/area based on the building and tenant country information. Otherwise, the system retrieves the tax rate/area from the tenant of the lease.