Tenant Sales Reconciliation agent
Checks the sales each tenant reports against the base rent, for rent that is a percentage of sales or set in bands of turnover.
Validated with each clientWhat does Tenant Sales Reconciliation replace? The work of an accounts executive: check tenants' point-of-sale (POS) sales for revenue share. Checks the sales each tenant reports against the base rent, for rent that is a percentage of sales or set in bands of turnover.
Shows why
It shows its reasons and how sure it is on every draft. When it is not very sure, it only brings the item to your notice.
Waits for you
Nothing is filed, paid or posted until a person says so.
Gets reviewed
Every approval and correction is recorded, so you can see how well it does on your own books.
A month with this agent
Take a mall with 60 shops, where some pay fixed rent and many pay the higher of a minimum or a share of their sales.
- Shop sales arrive through the month. Each shop's takings come from a connected till system, a file upload or hand entry. For each day Kinnow holds gross sales, discount, tax, returns and the number of receipts.
- Each day is checked on its own figures. Net sales should equal gross minus tax. A day that does not add up is flagged, and the screen names the days, so a bad figure does not hide inside a month that still totals neatly.
- At month-end the accounts executive opens the lease. The POS reconciliation panel on the lease works out the month. It uses the daily figures if there are any and the monthly report if there are not, and it says which it used.
- Kinnow compares the two rents. It sets the minimum rent against the agreed share of reported sales. The minimum is the lease's guaranteed figure where the lease has one, and the current rent where it does not; the panel says which.
- Banded leases are worked slice by slice. Where rent is set in bands of turnover, each rate applies only to the sales inside its band, like income-tax slabs. The panel shows the working for every band and the blended rate the shop effectively pays.
- A person reviews and bills. The executive reads the working, asks the shop about anything odd, and raises the rent invoice in Leases & contracts (Pact). The check itself bills nothing.
Example (an illustration, not a client's numbers). A shop has a minimum rent of ₹1,00,000 and pays 8% of sales. It reports ₹14,00,000 for the month. Eight per cent of that is ₹1,12,000, which is more than the minimum, so rent due is ₹1,12,000 and the overage is ₹12,000. A shop with bands of 6% up to ₹1 crore, 8% from ₹1 crore to ₹3 crore and 10% above, on ₹5 crore of sales, owes ₹42 lakh. Charging 10% on the whole ₹5 crore would wrongly give ₹50 lakh.
See your mall's turnover rent worked out line by line. Send us one lease and a month of till figures.
What it reads and what it hands back
| What it reads | What it hands back | Where it lands |
|---|---|---|
| Each shop's reported sales, daily or monthly | Whether each day's net follows from its gross and tax | Daily shop sales screen; flagged rows |
| The lease: minimum guarantee or rent, share of sales, turnover bands | Minimum rent, percentage rent, rent due, overage, and whether the percentage applies | POS reconciliation panel on the lease |
| A banded ladder, if the lease has one | The working for each band and the blended effective rate | Turnover bands tab and the same panel |
What a person decides
- Whether the reported sales are right. Kinnow works from what the till or the shop reports. Querying a figure with the tenant is your call.
- The lease terms. The minimum, the share and the bands are entered from the signed lease by your team. A ladder with a gap or an overlap is refused, because it would exempt or double-charge some sales.
- The invoice. A person raises it from the lease. Nothing is filed, paid or posted without a person.
- What it never does. It never changes a shop's sales figure and never bills a tenant by itself.
Ask Kinnow about this
Ask in plain English. Before it answers, Kinnow shows where the answer will come from and what it will cost, and it uses only what the person asking is allowed to see.
| You could ask | What the answer shows |
|---|---|
| Which shops paid percentage rent last month, not the minimum? | Leases where the percentage applied, with overage for each |
| What are the sales for the food court shops this week? | Daily shop sales by lease, with the days that do not reconcile marked |
| What is the blended rate for the anchor tenant this year? | The effective rate from the band working on that lease |
| Which shops have not reported sales for May? | Leases with no sales reports for the period |
Ask us to run last month's percentage rents on your leases.
Works with
Part of Pact. Nearby:
- Vacancy Filling suggests a rent for an empty unit.
- CAM Recovery checks that common-area charges were billed in full.
- Lease Renewal proposes terms when a lease comes up for renewal.
- Mall leases billed exactly as signed.
Questions
What does the Tenant Sales Reconciliation agent do?
Checks the sales each tenant reports against the base rent, for rent that is a percentage of sales or set in bands of turnover.
Does Tenant Sales Reconciliation act on its own?
No. It checks the reported sales against the base rent and shows its working. A person approves before anything is posted or billed.
Does Tenant Sales Reconciliation learn?
Kinnow keeps every approval and rejection, along with how sure the agent said it was, so you can see how it does on your own books. We do not describe it as changing its own behaviour; corrections are kept so they can be reviewed with you.
How is it paid for?
It is part of your agent pack, and there is no charge per user.
What is "greater of" rent, and does Kinnow handle it?
Many mall and shop leases charge the higher of a minimum rent or a share of the shop's sales. Kinnow works out both and shows which one applies and by how much it exceeds the minimum.
Can it handle rent that changes in bands of sales?
Yes. Each rate applies only to the sales inside its band, like an income-tax slab. The panel shows the working per band and the blended rate. Your adviser should confirm that the bands match the signed lease.
Tell Kinnow what slows you down.
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