Tango Lease – Payment Allocations Remit Message

Modified on Tue, 3 Mar at 1:02 AM

Overview

In a continuing effort to provide industry-leading functionality, Tango would like to bring to your attention an enhancement to Lease Payments/Billings when allocations are present to include the Allocation ‘Remit Message’ on each Lease Payment/ Billing created. This enhancement will be available May 12, 2023.

Summary of Changes

The Tango Lease application has enhanced ‘Allocations’ for payments/billings so that each allocation’s ‘Remit Message’ is copied to each lease payment/billing when created. This enhancement applies to allocations created in the Recurring Costs tab for AP and AR leases and for One-Time Payments created in the Lease Payments tab. If an allocation ‘Remit Message’ exists in a Recurring Cost, upon Generating Rent, Generating Billings, or Generating Percentage Rent the remit message will be copied to the Lease Payment / Billing created.

Example 1:

An AP Lease with a Recurring Cost Payment Type ‘Storage Rent’ where the payment is allocated based on percentage to 3 different vendors with 3 unique ‘Remit Messages’

Upon Generating Rent Roll:

Payment 1:

Payment 2:

Payment 3:

Example 2:

An AP Lease with a Recurring Costs Payment Type ‘Percentage Rent’ where any percentage rent payment is allocated based on percentage to 2 different vendors with 2 unique ‘Remit Messages’

Upon Generating Percentage Rent:

Payment 1:

Payment 2:

Example 3:

An AR Lease with Recurring Cost Payment Type ‘Storage Rent where the billing is allocated based on percentage to 3 different vendors with 3 unique ‘Remit Messages’