1. Common Causes for Out-of-Balance Situations
   1. When manual entries are made directly in a QuickBooks account.
   2. Manually modified transactions in QuickBooks such as voided, deleted, date changed, and changes to the account.
   3. PropertyBoss transactions that have not been sent to QuickBooks.
   4. Payment transactions that are on an open deposit and therefore cannot be sent to QuickBooks.
   5. Changes to an income account for a PropertyBoss transaction in the Transaction Set.
   6. PropertyBoss CANNOT change the account on an existing item through the interface.
   7. Interest received in the Security Deposit Escrow account.
   8. Returned Deposits: PropertyBoss does not physically move funds to the Operating account.

 

2. Use of Closing Dates in PropertyBoss and QuickBooks
   1. It is imperative for balancing purposes that Closing Dates are used in both QuickBooks and PropertyBoss. After balancing to Unearned Revenue at the end of each month, use of the Closing Dates will ensure that the amounts do not change.
      1. In PB, this can be found via Setup Preferences > Closing Preferences > Closing Date

 

3. Recommended Balancing
   1. Owner Balances + Prepaid Rent + Unpaid Management Fees = QuickBooks Operating Checking Account
   2. Security Deposits Held = QuickBooks Escrow Account
   3. Due to Owners = Owner Balances in PropertyBoss

 

4. Verify the Following:
   1. All deposit batches are closed and have a close date in the correct period.
   2. All transactions have been sent to QuickBooks.
   3. All transactions have been moved from Undeposited Funds to the bank account in QuickBooks.
   4. All pending bills have been paid in QuickBooks.
   5. The ending balances from last month’s reports in QuickBooks are the same as the beginning balances on this month’s reports.
   6. The ending balances from last month’s reports in PropertyBoss are the same.

 

5. Reports to Help with Out-of-Balance Situations
   1. Click on General Ledger > View Previous Interface Runs > Reports:
      1. Run Accounting Interface Discrepancy Report which lists transactions that are:
         1. In PropertyBoss and not in QuickBooks
         2. In QuickBooks and not in PropertyBoss
            1. Any discrepancies between the two:
               1. Manual modifications to transactions after being sent to QuickBooks
               2. Does not show transactions manually entered in QuickBooks
   2. Run GL Account Recap Report which lists transactions sent to QuickBooks.  Use to do one-to-one comparisons to the entries in QuickBooks.
      1. Change the Report Organization option to:
         1. GL Transactions: shows debit and credit transactions sent from PropertyBoss organized by the QuickBooks GL Account and the transaction date
         2. PropertyBoss Transactions: shows debit and credit transactions sent from PropertyBoss organized by the QuickBooks GL Account and the PropertyBoss transaction name. Useful for comparing to the A570 Activity Reconciliation Report.
            1. Compares values in PropertyBoss to the current values of each transaction in QuickBooks
            2. Review the report and make the applicable corrections
               1. The report also includes any transactions marked as "Already Sent to QuickBooks" in PropertyBoss
               2. When reviewing this report, look specifically for errors where transaction amounts have been changed or no longer exist in PropertyBoss or QuickBooks. The report may also show errors when PropertyBoss attempted to send a transaction multiple times because of a validation error