Using accumulated periods
To use
accumulated sales periods for turnover rent, you must set the following turnover profile fields:
• Based on accumulated period?
Set this field to Yes if you want to calculate turnover rent based on accumulated sales. By default, this field is set to No.
• Start date of accumulated period
Select the date when accumulation begins. This date must align with the start of a settlement period, such as the beginning of a month or quarter.
• Sales during accumulated period
Specify the period over which sales are accumulated before calculating rent, for example every few months, quarterly, semi-annually, or annually.
• Accumulated minimum guaranteed rent?
If you want the minimum guaranteed rent to also be calculated over the accumulated period, choose Yes. This requires at least one minimum rent amount to be set.
Important
◦ You can change these settings only if the turnover profile is still inactive and hasn't been used to calculate rent.
◦ Ensure that the start date of each accumulated period matches the start date of a settlement period. This applies to all accumulated periods, not just the first. Consistent alignment is necessary for accurate processing.
In the turnover settlement process, several fields provide insight into the accumulated amounts and the balances that need to be settled.
• On the Turnover settlement selection level:
◦ The field Accumulated minimum guaranteed rent shows the cumulative amount of the minimum guaranteed rent.
◦ The field Accumulated amount to settle shows the cumulative balance that results from all settlements up to the current point. It provides a running total of what the lessee still owes or what needs to be refunded.
◦ The field Total turnover rent paid shows the total amount of turnover rent that the lessee has already paid to date. This helps you compare the amounts paid against the calculated settlement to determine if further payment or a refund is required.
◦ The Formula text field explains how the rent is accumulated over periods.
• On Settlement details > Details of turnover to be settled:
◦ The field Accumulated amount displays the total turnover amount that has been accumulated and is subject to settlement.