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Posted by RebelGraffiti on July 22, 2007, 11:47 am
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Dave_C wrote:
> Enter rental charges/process payments through statement charges/Receive
> Payments/Deposits and can generate tenant statements. Want to enter
> their security deposits through statement charges but they will not
> appear. Security deposits are currently entered to Other Liability
> accounts through Make Deposits. What are the "pros and cons" of
> entering tenant charges through "statement charges" or regular invoicing
> especially for generating reports. Customer is property, job is tenant,
> class is apartment number. These transactions, "charge/receive/deposit"
> (Group deposits) are initiated at the time the rent is received.
>
> Summary: Need to create tenant statements with all transaction types
> including security deposit transactions and misc transactions for any
> given period. Will need the apartment number associated with each
> transaction.
I do all properties as OCL accounts with two subaccounts; one for
operating & one for escrow.
You can print the main OCL account for the property which will show all
transactions in the subaccounts or you can print the subaccount
registers separately.
As for how to enter it, you can use whatever method you want as long as
you setup the items correctly. I have items for each property's rent &
r&m that point to that property's ocl operating account. I have items
for each property's security deposits and other escrow items that point
to that property's ocl escrow account. This allows me to use sales
receipts or invoices.
I have monthly automated journal entries that debit each property's ocl
operating account for management fees and credit a/p to pay the parent
company. If my client didn't have that setup I'd credit a revenue account.
--
Tara
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