Often you will be charging your tenant rent based on a Monthly frequency.
This article explains how Vault calculates the Monthly rent.
Step by step
The daily rate for monthly rent will be calculated using the number of days in their rent cycle.
In the below example, rent is paid to 06/05/2022.
The next rent cycle would be from 07/05/2022 to 06/06/2022, 31 days in the cycle. The daily rate for this cycle would be $2500/31 = $80.65 a day.
Go to Tenancy/Management > General tab > Tenancy Overview to view the tenants rent status.
Todays date is 12/05/2022 and the tenant is paid to 06/05/2022 making the tenant in arrears of 6 days.
7th to the 12th rent is owed and the arrears is shown based on the daily rate of $80.65.
Arrears of $483.87 divide Daily Rate of $80.65 = 5.9996 (6 Days)
