Tenants' monthly sales for turnover rent, with SmartMy POS
Shops on turnover rent send their monthly sales from their web page or the SmartMy Lease app, or your staff enter them. Taking the sales straight from SmartMy POS is not joined up yet.
PLANSScale onlyWith SmartMy POS
Sales returns and turnover rent are built. Taking the sales straight from SmartMy POS is not joined up yet. Tenants send them from their web page or the app, or your staff enter them.
The problem it solves
- Turnover rent depends on tenants' sales, and the figures arrive late on paper.
- Each month someone types the sales in from an email.
- You cannot see which shops pay too much rent for what they sell.
How it works
- On a commercial lease with Turnover Rent ticked, set the share of sales, the breakpoint and how it is billed.
- Each month the tenant sends the sales return (sales before tax) with the report from their web page or the app, under Sales. Or your staff enter it under Lease > Billing > Rent > Sales Returns.
- You check the return and bill it: the turnover rent above the breakpoint goes on the next bill as a charge.
- Today the return does not come from SmartMy POS by itself. The automatic feed was written for a different point-of-sale module, which SmartMy POS does not use.
Everything it does
Sales returns
- Month, sales before tax, an audit adjustment and the report file
- Source: Tenant Portal, Point of Sale or Entered
- States Submitted, Checked, Billed; a tenant can send a month again until it is Checked
- Each return shows the occupancy cost: rent and charges billed as a share of sales
The point-of-sale feed (not working with SmartMy POS)
- A lease can name point-of-sale shops, and a daily job is meant to total last month's paid sales before tax into a return
- It reads a point-of-sale module that SmartMy POS does not install, so with SmartMy POS no return is made
- Until it is joined up, use the tenant's web page, the app or a staff entry
Who uses it
Shop tenantSends the monthly sales with the report.
Mall accountsChecks returns, bills turnover rent and enters audit adjustments.
Where you use it
- Tenant web page and the SmartMy Lease app: Sales (built and in testing, not in the app stores yet for the app)
- Web: Lease > Billing > Rent > Sales Returns and Turnover True-up
- Not from SmartMy POS today
Questions
Can our mall's shops on SmartMy POS send sales automatically?
Not yet. The automatic feed is not joined to SmartMy POS. Tenants send the month from their web page or the app in a minute, with their report.Can a tenant correct a return?
Yes, by sending the month again until you mark it Checked. After that, use an audit adjustment.Is tax included in sales?
No. Returns are sales before tax.Related features
COMMERCIALTurnover rent with breakpoints and a yearly true-upCharge shops a share of their sales above a breakpoint, with higher shares above set sales levels. Tenants send monthly sales from their web page or app, or SmartMy POS sends them. You check and bill each month, then true up the year.COMMERCIALService charge with budgets and year-end reconciliationShare a building's running costs among its tenants with cost pools, a yearly budget and each unit's share by area. Bill on account each month or quarter. Reconcile the year from your accounts, with a cap and a statement per lease.TENANTSTenant pages on the webTenants sign in on any browser to see their lease, what is billed when, the deposit, their bills, requests, notices and cheques. They give notice to vacate and answer a renewal offer there too.TENANTSThe SmartMy Lease app for tenants, owners, members and guestsOne phone app for everyone you serve. Tenants see their home, bills and repairs; owners their units and statements; co-working members their check-ins and credits; guests their stay and door code.
See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.