PropertyBoss provides a full audit trail of transactions that have been posted. It also provides a full audit trail of the information sent to QuickBooks. The following reports provide information to help you balance:


TABLE OF CONTENTS


A570 Activity Reconciliation Report

This report provides totals of all transaction activity posted or paid during a specific time period. To validate that information for the period was sent correctly to QuickBooks, we compare the totals on this report to the totals on the GL Recap Report.



G300 GL Account Recap Report

The GL Account Recap Report is run from the General Ledger Navigator. On the Navigator, click on View Previous Interface Runs and click the Reports button. 


There are two forms of the report that can be selected by changing the Report Organization dropdown: 

  • GL Transactions shows debit and credit transactions sent from PropertyBoss organized by your QuickBooks GL Account and Transaction Date. This report can be used to do a one-by-one comparison to the QuickBooks ledger. You can also choose to view only totals for each account or drill down to the individual PropertyBoss transactions.


  • PropertyBoss Transactions shows debit and credit transactions sent from PropertyBoss organized by your QuickBooks GL Account and by the PropertyBoss transaction name. This report is useful for comparing what PropertyBoss sent to QuickBooks to the Activity Reconciliation Report. Click the Filter button to restrict the report to a specific QuickBooks Account or PropertyBoss transaction.



A530 Collections and Applied

A530 shows a summary of charges, credits, and payments for each lease during the report period. It also shows separate totals for security deposit charges, collections, and refunds. 


This report shows any potential posting problem in the white space at the end of each line. If an amount shows here, there was some posting problem that is causing you to be out of balance for this lease. 


Review the lease register to see what is causing the discrepancy. If you are using the Accrual method, the Ending Net Balance should match your ending Accounts Receivable balance in QuickBooks. The Totals for Charges, Credits, Payments, and Adjustments should always balance to the Activity Reconciliation Report.



B310 Deposit Summary Report

B310 shows all deposit batches with transactions posted during the report period. We use this report to look for problems like: 

  • payment transactions were dated outside the current period, but the deposit was sent to QuickBooks during the report period
  • a batch was not closed
  • batch was closed in the wrong period 



Accounting Interface Discrepancy Report

The Accounting Interface Discrepancy Report is run from the General Ledger Navigator. On the Navigator, click on View Previous Interface Runs and click the Reports button. 


The Accounting Interface Discrepancy report does a 2-way comparison of information in PropertyBoss and QuickBooks. 


First, it compares the current PropertyBoss transactions to what the Accounting Interface sent to QuickBooks. 

  • This step finds problems where you made manual modifications to transactions after they were sent to QuickBooks. 
  • This report does not show transactions that were manually entered in QuickBooks.
  • Note: PropertyBoss security normally prevents these changes. These changes only occur if a Supervisor Override is done to permit the change.


Second, the report compares what PropertyBoss sent to QuickBooks to the current values of the transaction in

QuickBooks. 

  • When reviewing this report, we are looking specifically for errors where transaction amounts have been changed or no longer exist in PropertyBoss or QuickBooks.
  • This report sometimes may show errors when a transaction has been sent multiple times because of a validation error.


Balancing Accounts

The simplest approach is to balance one QuickBooks account at a time.

  1. Choose a month to begin. Balancing is easier if you start with a month that balances. 
  2. Run the A530 and look for errors in the white space at the end of each line. (See the write-up on A530 for more information).
  3. Next, run the Accounting Interface Discrepancy Report looking for transactions manually changed in PropertyBoss or QuickBooks that are not reflected in the other system.
  4. If you have not found the error, run the A570 and compare to the QuickBooks account. 
  5. If necessary, compare the registers transaction by transaction.


Identifying Common Causes for "Out of Balance

  • Have you made any manual entries to the QuickBooks account?
  • Have you voided, deleted, changed the date, change the account, or otherwise manually modified a transaction in QuickBooks?
  • Are there any transactions in PropertyBoss that are waiting to be sent to QuickBooks. (These would show in the General Ledger Navigator with a red X on the line).
  • Have you changed the income account for a PropertyBoss transaction in setup? If so, you need to edit the QuickBooks item and validate that the account is correct; PropertyBoss cannot change the account on an existing item through the interface).
  • Run the Deposit Summary Report and see if there are any transactions outside the current period.
  • When balancing the Security Deposit Escrow Account, have you taken into account any interest received in the account?
  • When balancing the Security Deposit Escrow Accounts, have you taken into account the effect of Returned Deposits? PropertyBoss reports the amount of money to be moved to your Operations account, but does not physically move the money for you.


Accounting Support

PropertyBoss partners with current and former "super" users who offer their accounting assistance with QuickBooks, the General Ledger, auditing, month-end reconciling, and general bookkeeping to current PropertyBoss clients for a nominal fee. Email care@propertyboss.com for the contact information of our accounting partners.