Friday, May 30, 2008

Write-Off A Charge

NOTE! Write Offs are posted only for rent charges that can not be collected. Charges for cleaning and damages are reversed. You must have RPS approval before posting any write offs.

1. From the left side menu click Charges-->Write Off Charge.

2. Select “Past” as the Status--> Enter “rent” as the Charge Code.

3. Enter the Post Date and Post Month the write off will affect the general ledger.

4. Enter “baddebt” as the Write Off Charge Code. Make sure to use your baddebt charge code and not rent charge code.

5. Enter notes about the write off-->Click Submit.

6. Review the table of charges to locate the correct entries--> Place a check mark in the box at the end of the row for charges to write off--> Click POST.

7. You will receive a confirmation message with a control number for the write off.

Adjusting Security Deposits Entered as QuickTrans

Posting security deposits using the QuickTrans function has the following affect on the general ledger:

Charge :

Db 12010 (AR)
Cr 20090 (Sec Dep)

Receipt:

Db 10020 (Cash)
Cr 12010 (AR)

Reversing JE:

Db 20090 (Sec Dep)
Cr 10020 (Cash)

If a QuickTrans must be reversed it is critical that all three parts of the transaction are reversed. The charge and receipt may be reversed by using the reverse function by going to the Tenant Ledger and clicking on the control number for the charge and receipt, but a journal entry must be created manually to complete the QuickTrans reversal.

The journal entry must use the same date that the charge and receipt reversals use. The journal entry should be:

Db 10020 (Cash)
Cr 20090 (Sec Dep)

Be sure to reference the control number of the original QuickTrans in the “Notes” section of the journal entry as well as why it is being reversed.

Tuesday, May 20, 2008

Why do I have a balance in the current year retained earnings on my trial balance report?

Problem:

Why do I have a balance in the current year retained earnings on my trial balance report?

Resolution:

You should never see a current year retained earnings dollar amount on a trial balance.

The following three issues can cause this problem:

1. You have not transferred the prior year retained earnings to a prior year retained earnings general ledger account.

2. You have entered a journal entry to the retained earnings account.

3. The retained earnings account was changed sometime during the current period.

Wednesday, April 23, 2008

A user received the following warning message: Offset differs from Cash Account entered in detail line 1! Continue?

Problem:

A user received the following warning message: Offset differs from Cash Account entered in detail line 1! Continue?

Resolution:

This warning message relates to the general ledger cash account that you set up in the Essential Accts section of Accounts & Options. If that cash account differs from the cash account that the user selected before saving a receipt, this warning message will appear.

Friday, April 11, 2008

How should Model, Down and Admin units be set up in Voyager?

You have two options:

Method 1:
Using this method, the Total Units link on the Residential Dashboard reports only revenue units. The Dashboard reports Model/Admin/Down as the count of non-revenue units.

Under this approach:

1. Set up conventional units with Rental Type = Residential.

2. Set up Model, Admin and Down units with a Rental Type of Model, Admin or Down. Do not mark these units Exclude. Do not add residents for non-revenue units.

With this method, gross potential rent (GPR) will automatically include the lost revenue from these units. The GPR will use the amount from the Unit Rent field on the unit record. These units will appear as non-revenue units at the end of the GPR report.

Method 2:
This method differs from the first method in the counts reported on the Residential Dashboard. Using this method, the Total Units link on the Residential Dashboard reports the grand total (including non-revenue units). The Model/Admin/Down count is always reported as 0.

Under this approach:

1. Mark all units as Rental Type = Residential.

2. Set up Model, Down and Admin units with "dummy residents" with a lease charge for Rent and an offsetting lease charge for Lost Rent for Admin/Model/Down units. Mark Model, Down and Admin units Exclude so that the units will not be considered available for occupancy.

With this method, GPR will include rent for non-revenue units (and all other units). The rent for these units is offset by the lost rent amounts. These units will appear in unit number sequence rather than at the and of the GPR report.

Tuesday, April 8, 2008

How To Post Rent Payment?

How To Post Rent Payment?

1. Count the payments you have received, to determine the quantity of receipts you will process. Write down the number.

2. Add the amounts of all the payments you will process. Write down the number.

3. In the Community Manager Dashboard, click the New Receipt Batch link.

4. Confirm that the appropriate property appears in the Property field. If necessary, type or select a different property code.

5. In the Total of receipts field, type the total dollar amount for receipts in the batch.

6. In the Number of receipts field, type the quantity of receipts in the batch.

7. Click Submit. The Receipt Batch screen appears. This procedure uses only the top section, Resident Receipts, which includes one row for each resident plus several blank rows. The following graphic shows just the top section.

8. In the Resident Receipts section, complete the Payment Method, Check Num, Amount, and Notes fields for each resident whose payment you are processing.

Note: Normally Voyager exits the Receipt Batch screen when you click Save. If you want to save your work without exiting the Receipt Batch screen, select the "Continue with data entry" check box before clicking Save.

9. When you have added the last receipt, be sure "Continue with data entry" is not selected and then click Save.

Note: Voyager saves the receipt batch, exits the Receipt Batch screen, assigns a batch number to your new batch, and displays the Summary Batch Receipt screen.

The Declared and Entered fields must match before you can proceed. If they don’t, you can modify the amounts in the Declared fields or click the Edit button to return to the Receipt Batch screen and make changes there.

10. Click Report. The Unposted Receipt Batch report appears. Verify that the information is correct and close the window.

11. In the Summary Batch Receipt screen, click Post.

Monday, April 7, 2008

Accidentally entered a deposit date of 04/01/2009 instead of 04/01/2008. How do I change the deposit date?

PROBLEM:

I accidentally entered a deposit date of 4/1/2009 instead of 04/01/2008. How do I change the deposit date?

RESOLUTION:

Note: To be able to change the date, the "Prohibit checkbook changes" check box in the Payable Options of Accounts & Options must be unchecked.

1. From the side menu, choose G/L, Bank Functions, then Bank Check Maintenance. The Bank Check Maintenance Filter opens.

2. Complete these fields:

Bank - Select a bank.

Original Check # - Enter the check number for the deposit that you want to change.

New Date – Select the date that you want for the deposit.

3. Click Submit. Yardi changes the deposit date. A “Check Record Updated” message displays.