Lease Configuration

Administration > Property > Setup > Lease Configuration.

You can use the Leasing Configuration page to configure lease settings and define the transaction codes that will be used.

Any lease fees (Hire, Maintenance, and Service) can be set to bill separately which require the fee billing transaction code to be defined. The fee billing transaction code is the reported guest charge transaction code that will go to the guest stay's A/R folio, the fee transaction code is used as revenue recognition in Folio 6. If a fee billing transaction code is not defined, the rental transaction code is used. You can set a prefix with a maximum length of 3 alphanumeric characters for each type of invoice so that when invoices are generated they are easily distinguishable. If Security Deposit or Incidental Deposit are defined, then the forfeit transaction code for that type of deposit is required. The optional valuation order fields are numerical 1-9 and must be unique per each fee type, this determines the order of which fees are considered for taxation when annual valuation of rooms is used. Valuation order cannot be combined with the Tax Condition Base Valuation Limit (Valuation Amount capped by Room Fee Amount).