End of Month Payments

Problem

When Base Rent payments start on the last day of a short month (e.g., February 28, April 30), the subsequent payments are sometimes at the end of the month for certain contracts, while on the selected day of the month (e.g., 28th, 30th) for other contracts.

Solution

Contracts with payments on the last day of a short month have different subsequent payments based on when the contract was created:

  • For contracts created before the introduction of the "End of Month Payment" checkbox in Base Rent terms, arrears payments occur on the last day of subsequent months, while advance payments occur on the selected day of the month.
  • For contracts created after this checkbox was introduced, users have the option of selecting the desired payment date behavior.

The application must be configured with the date of the first build that was deployed with the "End of Month Payment" checkbox. Contact your system administrator if it seems like the date should be adjusted.

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