Understanding the Process to Copy Recurring Billing Information

If you create a new version of the lease, you might want to set up recurring billing information for the new version. To save time and reduce the possibility of errors, you can copy the recurring billing information. You can override the information on the new billing records as necessary. The new lease version does not have to be active to copy new recurring billing records.

To copy recurring billing records to a new lease, select the recurring billing records to copy, and then select Version from the Row menu on the Recurring Billing Revisions form. You can set processing options in the P1502 program to specify whether the system copies the gross amount, the annual square-foot rate, or the taxable amount.

When you use the version feature, the system automatically:

• Suspends the billing records that you specified by updating the SC field with the value Y.

• Updates the Suspend Date field with a date that is one day before the version effective date of the new lease version.

  For example, if the version effective date of version 2 is July 01, 2008, the system updates the Suspend Date field to June 30, 2008.

• Creates new billing records based on the version effective date of the new version and recurring billing ending date.

  Note:

  The system uses the ending date on the recurring billing record and the version effective date assigned to the new lease version to determine the dates to assign to the new (copied) billing record.

  For example, if the new lease version has a version effective date of July 01, 2007, and the recurring billing record that you are copying has an ending date of June 30, 2007, the system does not copy the record to the new lease.

• If you are updating a lessee lease, the system also updates the Effect on Lease Liability field as needed to ensure the integrity of both the billing records and amortization schedules.