NetLease - Record Zero Dollar Payment

Overview

NetLease users may need to reflect a $0 payment on their schedule due to scenarios such as a rent-free period or other agreed-upon arrangements. This can be done by recording a zero-dollar payment for the relevant period. 

Step-by-Step Guide

  • To add a $0 payment to a lease that has already commenced and has journal entries posted, a modification is required. This can be done by navigating to the relevant lease record and selecting the Modify button:

  • Once on the Modification page, scroll to the bottom and select the Payments subtab:

  • Two new payment lines must be added:
    • First, insert a $0 payment to reflect the rent-free period. This can be configured with a payment frequency of either One-Time or Monthly.
    • Next, add an additional payment line for the period immediately following the rent-free month to reinstate the recurring monthly rent. If this step is not completed, the system will continue to apply a $0 payment for the remainder of the lease term.

  • Click Modify Lease once the payment updates have been entered.
  • Once the modification has been processed, the modification entry and the $0 payment will be reflected on the lease schedule:

  • From there, normal monthly journal and bill processing can proceed:

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