This applies to clients manually entering QB GL transactions (for income-based) on the charge transactions where the receipt was applied in Property Boss.


Process

  • Use Batches
  • The batch report provides charges paid by transaction for general ledger entries to QuickBooks (QB).
  • Use the LAR Prepayments Applied totals for general ledger entries to take amounts from the pre-payments account and distribute to the appropriate accounts. The prepayments account is where unapplied receipts from Batch reports were recorded.


Lease Activity Reconciliation (LAR) report gives charges posted and paid. The report will allow you how to balance the cash account in QB.


Reports to Cross Reference

  • LAR Tenant Payment = Batch Summary report Total
  • LAR Total Prior Charges Paid + Total Charges Paid = Batch Summary report Total Applied
  • The LAR individual charge transaction totals of Prior Charges Paid + Charges Paid = the QB period income
  • LAR Prior Charges Paid + Charges Paid = sum of report totals on Charges Paid