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Can I process recoveries after I close the year in Property Management?

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You can process recoveries after you close the year in Property Management.

However, charges with a Charge Date beyond the next recovery period will not post. See article 23023, DocLink: Error: "3504 - Charge Date is beyond the next recovery period. Recoveries must be reconciled prior to posting."

For example, if your current recovery period is 1-2018 to 12-2018, you cannot post charges with a 2020 date. Charges posted with a 2019 date are stored in the Charges next period recovery field.

Each lease has a recovery period that is automatically advanced when you process Tasks, Recoveries and Escalations, Reconcile and Escalate. Follow the steps below to verify a lease's recovery period:

  1. In Property Management, from the Tasks menu, select Manage Leases, Change Lease.
  2. On the Recur Chgs tab, click ...> in the Recovery Controls column.
    • Basic recovery controls are stored on the Recovery Controls tab.
      • Recovery from and to dates show the lease's current recovery period.
      • Charges this period keeps track of charges in the current recovery period.
      • Charges next period keeps track of charges in the next recovery period.

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