Understanding Catch Up Payments

Catch up payments are the adjustment payment for the first months of the new year. Catch up payments are the difference between the estimated payment amount paid to date in a new lease year (which has been paid at the prior year estimated payment amount) and the amount due per the new estimated payment amount. It may be possible for this to be a negative number, which would be treated as a credit. During the revision of the annual expenses through an amendment, the catch up amount should be recorded at the category level. This catch up payment will be added to the first transaction that will be sent to the transaction queue after the amendment is activated.