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How do I set up Real Estate for a new company?

Set up the payment categories and their accounts, then Real Estate Setting, then the property, its units and prices. Each step below needs the one before it.

Screen
Several, in the order below
Who
The implementation consultant
Takes effect
On each save
Needs first
The company, its customers, tax setup and posting profile (see Company, Tax Group and Posting Profile)

Before you start​

Steps​

  1. Create the payment categories on Payment Category: down payment, instalment, possession, transfer fee, refund and refund adjustments.
  2. Give each category its account on the posting profile's real estate lines in the general ledger setup. Without it, no billing proposal can be made.
  3. Fill Real Estate Setting on Real Estate Setting: the outright and refund categories, Fund Transfer Payment Method, Maintenance Invoice Journal, the terms and the Discount and Taxzone switches.
  4. Create the classifications Property Category, Property Type, Property Sub Type, Amenities and Stage.
  5. Create the property on Property.
  6. Create the units on Units or Real Estate Unit, and complete each unit's type, unit of measure and size.
  7. Price the units with a Pricing Period and a Pricing Profile, or on each unit's Unit Price tab.
  8. Add the sales side Sales Channel, Dealer, Sales Person, Agent, Sales Team.
  9. Add maintenance and letters if used Maintenance Pricing Agreement, Document Type, Document Template, Notice Template.

Check it worked​

If something looks wrong​

  • "Account is not defined in Posting Profile of Payment Category ..." Step 2 is missing for that category.
  • "Outright Payment Category is not selected in Real Estate Setting" Step 3 is incomplete.