Report Date

Many of the reports in RentWorks use the report date when searching for records. Along with the report date is a report time and location. These three values specify when and where the contract’s revenue is realized. Each contract, miscellaneous charge, payment, and deposit can have a report date. It is assigned depending on the type of record:

• When a contract is closed, the current date and time is assigned to the contract’s report date. Any charges and payments on the contract are assigned the same report date.
• When a paid deposit is received, it also receives the current date and time as the report date. However, this will be different from the contract’s report date because that is assigned when the contract closes.

A contract is said to be "in balance" when the sum of its charges and payments for the same report date are equal. Paid deposits are an exception because their report date is when they were received, not when the contract is closed. The Daily Business Report (DBR) takes this into account when it checks to see if a contract is in balance.

If a charge is added to a contract after it has been closed, there must be a payment equal to the new charge. Both must have the same report date, but it will not be the same report date as the contract.

The report dates on the contract, charges, and payments can be modified on the Contract Charges Screen by using the DBR button in the toolbar.