Account for a rent pre-payment to post transition leases

When a pre-payment to rent is made for a lease, you will need to manually add this payment to the payment table.  

Set up the lease as explained in the Add New Lease help guide.  It is assumed that the lease Inception Date will be prior to the Commencement Date and the pre-paid rent is made between the Inception Date and prior to the Commencement Date.

 

On the Rent tab, enter in the Base Rent Payments and any escalations.  Save to create the Payments table.

On the Payments tab, add a new payment row for the pre-paid rent.  Example below indicates we are paying the lessor $5,000 on 3/5/2022.  Enter in the pre-payment details and click Save button

The new payment row will be stored and displayed in the Payments table.

Go to the Lease Accounting tab to view the journal entries for this pre-payment.