Adjust or waive interest
Change or remove a late-payment interest amount while it is still provisional.
Start: the lease, Interest tab Result: the interest figure for that period changes, with the reason on record.
Steps
- Open the lease and go to its Interest tab.
- Choose Adjust on the period you want to change.
- Enter the new amount, or waive it entirely, and record why.
- Save.
While it is provisional
You can only do this while the interest is provisional - that is, before the statement for that period has been issued. Afterwards the option is gone, because the tenant has the figure.
Check the interest before you send the statement, not after. Sending is what locks it. Afterwards it can only be changed by a further adjustment that appears on the account as its own line.
Waiving
A waiver is recorded, not deleted. The account shows that interest was raised and then waived - which is exactly what you want when someone asks about it six months later.
Related
- How late-payment interest worksInterest is worked out automatically, stays editable while it is provisional, and locks in when you send the statement.
- StatementsA running account over time — everything charged, everything paid, and the balance. An invoice is one entry on it.
- Issue a tenant statementSend a tenant their running account - and lock that period interest in the process.