Reconciling operating expenses
To reconcile operating expenses (OPEX) or common area maintenance (CAM) expenses, you can open and submit payment reconciliation records. After the issued record is approved, the application creates a one-time payment for the amount due or credit owed.
About this task
If a lease contains a clause with the Payment Auditable check box selected, the clause shows the Audit Details section. When the lease is activated, the application sends scheduled notifications to the Contract Administrator for payment reconciliation. The notification schedule is based on the Reconciliation Frequency pattern and Reconciliation Start date.
After the reconciliation is issued, you can review the payment line items (PLIs) that are created from the reconciliation. Return to the lease. In the Payments tab, go to the Payments section and select the Payments - Projected (AR) related report. The section shows the PLIs from the reconciliation and other accounts receivable (AR) items.
Procedure
- Select .
- Open a record.
- Specify the details.
- Issue the record. You can find the issued record by selecting .