How does the Start Collection Date affect leased invoices?

The Start Collection Date on leases will define the due date of all invoices within the lease. It also allows users to set when the first invoice will be created.

Example 1:

Let's say you have a year long lease and have already collected rent for January - March in cash for example and you don't want to add these invoices on Ajar. You can set the start collection date as the 1st of April.

Lease Start - End Date: 1 January 2024 - 31 December 2024

Start Collection Date: 1 April 2024

Collection Frequency: Monthly

The first invoice will be generated for the month of April with the due date set as 1 April 2024. The invoice will be payable by the tenant starting from the 26th of March 2024.

All other invoices in the lease will be due on the 1st of each month.

Example 2:

Let's say you have a year long lease and have already collected rent for January - March in cash for example and you don't want to add these invoices on Ajar. This time you want to collect payments on the 5th of each month. You can set the start collection date as the 5th of April.

Lease Start - End Date: 1 January 2024 - 31 December 2024

Start Collection Date: 5 April 2024

Collection Frequency: Monthly

The first invoice will be generated for the month of April with the due date set as 5 April 2024. The invoice will be payable by the tenant starting from the 30th of March 2024.

All other invoices in the lease will be due on the 5th of each month.

In any case, you can always edit the Payable From date and the Due Date of every invoice in the lease page.