Welcome to enhanced SAP Business One Features. Today, Let’s have a look at the customized product for rental management in SAP Business One. This rental management module will be useful for the companies operating in multiple branches or divisions to capture rent details and record as a master for all branch office of the company. Not only that, you can capture rent contract period, landlord name, bank details, monthly rental amount, escalation amount for every year and the advance payment details. The system is capable of updating monthly rent payment schedule for each branch of the company. Rent payment schedule will be calculated from the agreement start date till the end date and advance payment entries will be generated as soon as the rent master is added.

 

Posting of rent accruals at the month end is done automatically and Consolidation of rent payment for all branches is done at a single click in the system. Moreover, TDS calculation for rent payment is also posted in the rent and TDS payable accounts. During the closure of branches or end of the agreement, advance amount can be adjusted against the rent amount or the maintenance expenses of the particular building. Those adjustment entries are posted automatically by the system. Another feature is that Branch offices or division offices with multiple owners can also be recorded in the master and payments can be made separately to individual owner. Escalation amount for every year will be calculated and schedule is re-generated in the case of agreement more than a year. Rent equalization result is created by the system and distributed accordingly for the whole financial year. These are the key functionalities of the rent management module in SAP Business One.

 

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