Managing Lease Ledger

Controlling The Ledger

Lease ledger consists of charges that are generated primarily by billing and some one off actions, as well as credits and payments. 

 

PropertyVista CRM provides PMC variety of ways to drill down, review and analyze Tenant Ledger, Outstanding Charges, Credits, and Arrears and to take an appropriate action, if required.

Lease Financial Data and Accounting

All posted transactions on lease level (charges, adjustments, payments) are propagated to Accounting modile. AR code (or set of AR codes, as for payments and credit adjustments that may cover more than one type of charge) is an important property of the lease transaction that is used to link this transaction to GL code and add it into Accounting.

Three Financial Views - Ledger, Balances, Summary

For particular lease, go to Views>Lease Financial, where you can see Ledger, Outstanding Balances and Summary. Summary is a report that can be downloaded, and it includes Ledger, total outstanding balance and arrears, if exist.

 

 

Lease Financial - Summary

Financial Summary example (You can also click on Ledger from here):

 

Applying Adjustments

As you may notice, in the example above there are two One-Time Lease Adjustments (credits):

$100 to cover specifically rent

$200 to cover all charges

The behavior of these Lease Adjustments is different. Lets see how these were created. The behavior of Lease Adjustments (Credits) is aligned with Payments, that can cover targeted AR Code or be distributed between multiple charges according to AR Settings. If targeted, any charges or portion of from outstanding debit balance can be covered, for example rent, parking, or deposits.  

First adjustment was created as Credit (Code: Good Will - Account Credit) with Target Code Residential Rent. 
Please note: Target Code is only available for Credit Codes. For Debits Target Code can not be assigned.

Second adjustment was created as Credit (Code: Good Will - Account Credit) with Target Code None, and therefore the credits will be automatically distributed between multiple charges according to AR Settings.

Lease Financial - Ledger

Lets see how these adjustments are displayed in Lease Ledger:

Now, lets drill down the entries in Ledger by clicking on any entry, credit adjustments in particular:

The first adjustment ($100) covers the portion of outstanding balance of Residential Rent (see Links section):

The second adjustment ($200) covers multiple outstanding balances according to AR settings:

Lease Financial - Balance

Balance example. As you see, all balances are updated after charges and credits are applied. You can also click on Ledger from here. Please note: Payments in submitted status are not displayed nor calculated in Lease Financial views, including Ledger. Payments will appear in calculations once processed.

 

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