To define a PRS agreement type parameter value

Parent Previous Next

The procedure to define a PRS agreement type parameter value is as follows:

  1. Navigate to Quick Menu > Rents > Configuration > Rent Configuration Settings. The Rent Configuration Settings window is displayed.
  2. Click on Agreement Types. The Agreement Types tab is activated.
  3. Click on New Agreement 1. All fields are activated ready for data entry.
  4. Enter a Description for the new PRS agreement type into the field provided e.g. Flat Fee Monthly Charge, Lower Band Percentage Fee, Upper Band Percentage Fee, etc. 2.
  5. Using the Agreement category drop-down field, select the specific parameter value to reflect the overarching agreement type classification i.e. PRS.
  6. Where a Fixed term period is appropriate for the PRS agreement type, activate the tick box provided.
  7. Using the Main account type drop-down field, choose the parameter value that will be linked by default on creation of a new PRS agreement, categorising the nature and range of applicable administration fees.
  8. Using the Companies drop-down field, multi-select all companies for which this PRS agreement type is relevant, or choose the All option, as required 1.
  9. Using the PRS fee drop-down field, select the calculation method (in terms of the percentage of rent payments) that will be used for the derivation of administration costs.
  10. Using the Agreement type charges drop-down field, multi-select all flat rate administration fees applicable to the overarching PRS arrangement i.e. those that will be applied independently of the cumulative rental transactions 3.
  11. Choose an Effective from date for this PRS agreement type i.e. the date on which it came into effect 4.
  12. Choose an Effective to date if the PRS agreement type status is to be reviewed on a specific date or to capture a change of circumstances; a blank field means the PRS agreement type will never expire.
  13. Click on Save 5. The new entry is displayed in the alphabetical list, underneath the PRS Agreement Types heading.


Tip

1 Where only a small number of parameter values are not required, activate the All tick box first and then deselect individual items from the full list, as required; the All tick box will be automatically removed once an item is deselected.

Note

1 Upon first access, all fields are automatically activated ready for data entry; hence the New Agreement button is inactive.

2 System validation rules ensure that the description entered for each new PRS agreement type is unique for the effective period.

3 The overall management fee levied for a specific PRS agreement can be derived from a combination of flat rate charges and a percentage of the rental revenue.

4 The Effective from date defaults to the current system date and cannot be left blank.

5 To amend the details of an existing parameter, expand the PRS Agreement Types heading and select an entry from the alphabetical list, or enter its name into the Search Agreement Types field. By default the list is filtered to show Current agreement types. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations. Only a limited number of fields can be updated once a record has been created.


See related topics...

PRS configuration management overview