Rents adjustment batch management overview
The process of inputting account adjustments onto the system - adjustment transactions or credit notes - and matching them to the correct account is achieved through the creation of an adjustment batch. Individual adjustment transactions (or credit notes) can be added to the batch, as required, and then processed together at a convenient frequency e.g. at the end of each month. For each newly created batch, the end user is required to enter an adjustment date, adjustment type and unique adjustment reference, as well as the overall total batch value (separately for net and VAT elements). For each adjustment received, a new entry is added to the batch by choosing an existing account charge against a specific agreement, or searching for a new account charge not previously linked to the agreement. Whichever option is selected, the value of the adjustment will be equal and opposite to the account charge selected i.e. once posted, one will negate the effect of the other, although for audit purposes both will appear on the account as separate transactions. Any number of adjustments relating to different agreements can be added to the same batch. Once all desired adjustment transactions have been entered, the end user has the opportunity to analyse the likely outcome before choosing to post the batched items live into the accounts, thus providing added control over data integrity. System security policies ensure that end users are only permitted to posit individual adjustment transactions above a specified value where the necessary authorisation permissions have been granted. Writing off bad debt or correcting charges applied in error are both valid examples of where an adjustment batch would be employed.
Separate help articles have been created for each key aspect of rents adjustment batch management, including: