Glossary

One line each. Follow the link where you need the reasoning.

A–D

Accrual start date — the date a lease taken on mid-flight begins billing and accruing from. Nothing before it is billed or charged interest. See leases.

Ad-hoc invoice — a one-off invoice outside the monthly run, carrying its own effective date. See invoices.

Approve — the act of issuing a draft invoice. It assigns the document number and puts it on the ledger. See invoices.

Body corporate — the entity that runs a sectional-title scheme and raises levies. See schemes.

Charge — a real billing line on a lease. Distinct from a template. See charges and templates.

Charge template — a default charge kept on a unit, copied onto new leases. See charges and templates.

Company — the agency or landlord. Everything belongs to exactly one. See companies and users.

Credit note — a negative invoice correcting one already issued. See credit notes.

Crystallise — to fix provisional interest permanently, which happens when the statement is issued. See interest.

Deposit — money held against a lease, settled when it ends. Not income. See deposits.

Disbursement — a payment made to an owner. See expenses and disbursements.

Draft — a document not yet issued. Editable, off the ledger, invisible to the recipient. See invoices.

E–L

Expense — a cost incurred on an owner’s behalf, reducing their payout. See expenses and disbursements.

Freehold — a property owned outright, with its own address and no scheme. See schemes.

Grace days — how long after a due date before interest starts. Zero means the due date itself. See interest.

Guarantor — a person or company standing surety for a tenant’s obligations, attached to a lease. See guarantors.

In duplum — the South African rule that accrued interest may not exceed the outstanding capital. Applied automatically. See interest.

Issued — a document that has been approved and is now a fixed record. See invoices.

Lease — the agreement tying a tenant to a unit for a period, at a rent. See leases.

Levy — a body-corporate charge on a sectional-title unit. Reconciled, not billed. See levies.

M–R

Management fee — your fee, defined per unit as an owner charge. See expenses and disbursements.

Metered charge — a variable charge that also records the meter reading behind it. See charges and templates.

Note — text riding on a statement or invoice, frozen when issued. See notes and note templates.

Occupation date — when a tenant physically took the keys, as opposed to the contractual start. See leases.

Owner — the person or organisation whose property you manage. See owners.

Owning entity — the trust or company that legally owns a unit. See owning entities.

Payment reference — a per-lease reference that lets an incoming payment be matched automatically. See payments and allocation.

Payout — what an owner receives after costs and fees. See expenses and disbursements.

Pro-rata — scaling a charge to the days actually occupied. See leases.

Provisional interest — interest still being recalculated, not yet locked. See interest.

S–Z

Scheme — a sectional-title development with a body corporate. See schemes.

Sectional title — ownership of a unit within a scheme, as opposed to freehold. See schemes.

Statement — a running account over time, as opposed to a single period’s invoice. See statements.

Surety — the obligation a guarantor takes on. See guarantors.

Tenant — the person or company renting a unit. Outlives any one lease. See tenants.

Unit — one lettable property, and the anchor for all the books. See units.

Vacation date — when a tenant physically moved out. See leases.

Variable charge — a charge whose amount you enter each period. A blank blocks issuing; a zero is valid. See charges and templates.

Void — an issued document cancelled outright. See invoices.