Property Vista Pro-Rate Setup
Property Vista Pro-Rate Setup
Setup for Yardi 6 and 7, including Mapping from Yardi to PropertyVista
Purpose, Scope and Assumptions
The purpose of this Document is to assist Property Management Company’s (PMC) Billing Pro-Rate setup. For PMC’s that
operate their business using Yardi Voyager and/or other software from Yardi family of products, this document also assists
with setup and configuration of Yardi Property Control.
This document assumes that PMC executes one of two possible Lease workflows.
1. PMC uses both Yardi and PropertyVista products. Lease Application creation and approval process is handled by
PropertyVista (website, application or/and CRM). Application and lease charges, concessions (called leasing specials in
Yardi), discounts can be set at this time in PropertyVista. The Move In, which is the last step in Lease Application flow, is
executed in Yardi, and Yardi billing generates the charges that are passed back to PropertyVista. There are two Yardi
sections of this document – 1) applies to Yardi Voyager 6.x, and 2) applies to Yardi Voyager 7. There are also two
mapping sections – one for each Yardi version.
2. PMC does not use Yardi for lease handling/billing or Yardi at all. Lease Application, Lease workflows are handled by
PropertyVista. All charges are set and generated by PropertyVista and billing is executed by PropertyVista as well
(Workflow 2).
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Contents
Purpose, Scope and Assumptions ....................................................................................................................................................................................... 1
1.
Prorate Setup in PropertyVista CRM ........................................................................................................................................................................... 3
2.
Proration Method, Rounding Offset and Billing Cycle Start Day Parameters ............................................................................................................. 4
3.
Yardi 6.x Property Control Prorate Configuration ....................................................................................................................................................... 8
4.
Yardi 7 Property Control Prorate Configuration ........................................................................................................................................................ 10
5.
Mapping between Yardi Voyager 6.x and Property Vista ......................................................................................................................................... 13
6.
Mapping between Yardi Voyager 7 and Property Vista ............................................................................................................................................ 15
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1. Prorate Setup in PropertyVista CRM
This section describes PropertyVista Billing Policy parameters that define lease term dates and prorate calculations. This setup
steps are applicable to PMC using any of workflows defined in Purpose, Scope and Assumption section.
In PropertyVista CRM, go to Administration->Policies->Finance->Billing. In Billing Policy, select Billing tab. The following two
parameters define the behavior of prorate in PropertyVista:
- Proration Method
- Rounding Offset
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2. Proration Method, Rounding Offset and Billing Cycle Start Day Parameters
Proration Method, Rounding Offset and Billing Cycle Start Day parameters it calculates Lease Term Start, End Dates and lease
first month charges.
Proration Method is the parameter that defines the prorate calculation method for the first month of lease:
Value
None
Actual
Standard
30 Days Month
Annual
Description
No prorate
Prorate is calculated based on monthly lease price, actual number of days
in prorate month, and actual number of days of lease in prorated month
Prorate is calculated based on monthly rent price, 30 days in prorate
month, and actual number of days of lease in prorated month.
For 31 day month, If start date is 31st, the number of days is 1, if 30th,
then 2, If 29th, 3. For 28 day month, if start date is 25th, the number of
days is 4.
Prorate is calculated based on monthly lease price, 30 days in prorate
month, and number of days of lease in prorate month between start date
and 30th of the month.
For 31 day month, If start date is 30th or 31st, the number of days is 1, for
29th, 2. For 28 day month, if start date is 25th, the number of days is 4.
Prorate is calculated based on annualized lease price, actual number of
days in prorate month, and 365 days in a year
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Rounding Offset sets the number of days from the start day of billing cycle that defines the lease term end date.
Rounding offset defines the lease term end date. Rounding offset values:
- Number, 1-31 - day of rounding offset from start date of billing cycle (or 1st day of month, if Billing Cycle Start Day set
to 1)
- Number, 0 - rounding to last day of previous billing cycle (or previous end of month, if Billing Cycle Start Day set to 1)
- Not Set - no rounding (future functionality)
Billing Cycle Start Day can be set in Billing Policy in Available Billing Types section. If set to 1, it is equal to 1st of month. Billing
Cycle Start Day must be set to 1 for mapping with Yardi Voyager 6.x. In Yardi Voyager 7, it is mapped to Bill Day.
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Picture below illustrates how the combination of Rounding Offset values and Proration Method values impacts the Lease Term
Start and Lease Term End Dates for a given Lease Move In date.
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If Rounding Offset greater than 0:
- Lease Term Start Date:
o If Proration Method is not set to “None”, Lease Start Date is equal to Lease Move In Date
o If Proration Method is set to “None”, Lease Start Date is set to start day of billing cycle (or 1st day of month, if
Billing Cycle Start Day set to 1)
- Lease Term End Date:
o If Lease Move In Date is less or equal to Rounding Offset, Lease End Date is set to start day of billing cycle (or 1st
day of month, if Billing Cycle Start Day set to 1)
o If Lease Move In Date is greater than Rounding Offset, Lease End Date is set to last day of billing cycle in a last
month of term (of end of last month of term, if Billing Cycle Start Day set to 1)
If Rounding Offset equals to 0:
- Lease Term End Date is equal to Lease Term Start Date + term duration
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3. Yardi 6.x Property Control Prorate Configuration
This section applies to Yardi 6.x Voyagers users. Hence it is applicable for Workflow 1.
Note: This section does not replace the Yardi User Guide, and is not intended to provide the explanation of Yardi functionality,
components, or setup of Property Control. This section provides the basic setup of PropertyControl prorate related
parameters for PMCs that are using both PropertyVista and Yardi products.
Note: Property Control in Yardi 6.x does not have setup parameter mapped to Billing Cycle Start Day in PropertyVista.
Therefore, Yardi Billing is based on 1st of month and lease end dates are often aligned with EOM (End of Month) or end of
previous month instead.
in Voyager,
Yardi->Setup->Property->Property Review->Functions->Property Control provides the access to terms and prorate setup in
Yardi.
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The following parameters will impact proration and charges for new lease, and need to be reviewed when using Yardi with
PropertyVista for Lease Application/Lease workflow:
Parameter
Rounding Lease Term
Rounding to Prev EOM, if
before
Prorate Rent
Description
EOM, Prev EOM, None - defines how the end lease date will be set
Offset date in lease start month, if Rounding Lease Term = EOM, sets the end lease
date to Prev EOM+ term duration if before that date, and EOM + term duration if
after that date
Offset date in lease start month, if Move In date after that date, Yardi first Billing
generates first month prorated and second month full month charges. If Move In
date before that date, Yardi first Billing generates first month prorated charges
only.
Yes/No
Prorate based on Days in
Year
If Yes, prorate is calculated based on annualized lease price, actual number of days
in prorate month, and 365 days in a year
30 Days Month
If Yes, prorate is calculated based on monthly lease price, 30 days in prorate
month, and number of days of lease in prorate month between start date and 30th
of the month.
For 31 day month, If start date is 30th or 31st, the number of days is 1, for 29th, 2.
For 28 day month, if start date is 25th, the number of days is 4.
Must be set to Yes, for mapping with PropertyVista
Must be set to Yes, for mapping with PropertyVista
Charge Next Month, if
after
Charge Move In Date
Charge Move Out Date
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4. Yardi 7 Property Control Prorate Configuration
This section applies to Yardi 7 Voyagers users. Hence it is applicable for Workflow 1.
Note: This section does not replace the Yardi User Guide, and is not intended to provide the explanation of Yardi functionality,
components, or setup of Property Control. This section provides the basic setup of PropertyControl prorate related
parameters for PMCs that are using both PropertyVista and Yardi products. In the next section the document will describe the
mapping between PropertyVista Billing Policy and Yardi Property Control parameters.
in Voyager,
Yardi->Setup->Property-> Review Property->Functions->Property Control provides the access to terms and prorate setup in
Yardi.
The following parameters will impact proration and charges for new lease, and need to be reviewed when using Yardi with
PropertyVista for Lease Application/Lease workflow:
In Property Details tab:
- Rounding Lease Term
- Rounding to Prev EOM, if Date On/Before
- Charge Next Month, if Move In After
In Residential Configuration tab:
- Prorated
- Bill Day
- Amount Period
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Parameter
Rounding Lease Term
Rounding to Prev EOM, if
Date On/Before
Prorated
Description
EOM, Prev EOM, None - defines how the end lease date will be set
Offset date in lease start month, if Rounding Lease Term = EOM, sets the end lease
date to Prev EOM+ term duration if before or on that date, and EOM + term
duration if after that date
Offset date in lease start month, if Move In date after that date, Yardi first Billing
generates first month prorated and second month full month charges. If Move In
date before that date, Yardi first Billing generates first month prorated charges
only.
Monthly, Annual, Period, None, Monthly (30 days)
Bill Day
Amount Period
Billing Date, must be same as Billing Cycle Start Day in PropertyVista for mapping
Monthly, Quarterly etc. Must be set to Monthly for mapping with PropertyVista
Charge Next Month, if
Move In After
Prorated is the parameter that defines the prorate calculation method for the first month of lease:
Value
None
Monthly
Period
Monthly (30 Days)
Annual
Description
No prorate
Prorate is calculated based on monthly lease price, actual number of days
in prorate month, and actual number of days of lease in prorated month
Same as Monthly for Amount period = Monthly.
Prorate is calculated based on monthly rent price, 30 days in prorate
month, and actual number of days of lease in prorated month.
For 31 day month, If start date is 31st, the number of days is 1, if 30th,
then 2, If 29th, 3. For 28 day month, if start date is 25th, the number of
days is 4.
Prorate is calculated based on annualized lease price, actual number of
days in prorate month, and 365 days in a year
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5. Mapping between Yardi Voyager 6.x and Property Vista
See below the mapping of Yardi Property Control to PropertyVista Billing Policy Parameters. This applies to PMCs that are
using Workflow 1.
Rounding Mapping Table#
Billing Cycle Start Day must be set to 1 for mapping with Yardi
* Not implemented in PropertyVista, First charge is always for first month only
*** Future Functionality in PropertyVista
#
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Prorate Methods Mapping Table
^ Exact mapping when Charge Move In Date and Charge Move Out Date in Yardi set to Yes
** Not implemented in Yardi
Other Parameters
Charge Move In Date
Charge Move Out Date
Must be set to Yes, for mapping with PropertyVista
Must be set to Yes, for mapping with PropertyVista
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6. Mapping between Yardi Voyager 7 and Property Vista
See below the mapping of Yardi Property Control to PropertyVista Billing Policy Parameters. This applies to PMCs that are
using Workflow 1.
Rounding Mapping Table
* Not implemented in PropertyVista, First charge is always for first month only
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Prorate Methods Mapping Table
^ Exact mapping when Amount Period in Yardi is set to Monthly
Other Parameters
Bill Day
Amount Period
Billing Day, must be same as Billing Cycle Start Day in PropertyVista for mapping
Monthly, Quarterly etc. Must be set to Monthly for mapping with PropertyVista
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