The Property Transactions ledger is used to record the incomes and expenses associated with each property. The ledger may be used to report internally about the incomes and expenses of the Property, or externally to the owner(s) of the Property.
This solution covers:
- Viewing an individual Property Ledger
- Entering a Property Transaction manually
- Transferring a Property Transaction to another property
- Transferring a Property Transaction to the Buffer Account
- Printing an individual Property Ledger
- Exporting an individual Property Ledger
- Setting Up Property Transaction Groups
- Transaction Group Balances in the Manage Property Transactions screen
Viewing an individual Property Ledger
Search for the Property you'd like to view the transactions for and click the Property Transactions button at the top of the screen.
The middle section of the screen will change to show the transactions of the property.
The Property Transactions Ledger is similar to the Tenancy Transactions ledger, in that each transaction will have a date, transaction type, amount and comments. Amounts will either be credits which will show in black or debits which will show in red. EG: Accumulated Rent = black (income we have made on the Property), whereas Property Maintenance/Centrepay Fees = red (expense for the Property).
Some transactions will be created automatically, for example rent. When rent is processed, the accumulated rent transactions for each month will appear on the Property Transactions ledger. Other transactions will be entered manually (EG Council Rates or Property Maintenance charges).
Entering a Property Transaction manually
To enter a transaction to a property ledger manually, click the Enter Transaction box. The Enter Transaction pop up will appear:
|Transaction Type||Select the type of transaction you are entering from the drop down list. If the Transaction Type you wish to enter is not in the list, ask your System Administrator to add it in System Maintenance > Reference Tables > Transaction Type (Property)|
|Date||The date field will default to today, but remove this and add the appropriate date of the transaction if not today.|
|Amount||Enter the amount of the transaction in dollars. If the transaction type is configured for GST, enter the ex-GST amount.|
|GST Amount||If GST applies to the transaction type, the GST amount will be displayed in the GST field, at the default rate in System Maintenance> Preferences> Finance> GST Rate.|
|Invoice Number||If the transaction has a corresponding Invoice Number, enter it in this field.|
|Cheque Number||If the transaction has a corresponding Cheque Number, enter it in this field.|
|Comments||Enter any comments about the transaction in the Comments field. This will show on the property transactions statement and is important to advise the owner what the transaction was for.|
Click Add to add the transaction to the ledger.
Transferring a Property Transaction to another property
If a transaction has been created against the wrong property, you can transfer it to another property by opening the Property screen and clicking Property Transactions.
To transfer a non-rent Property transaction, double click on the transaction you want to transfer and tick the Transfer This Transaction box:
Next, select the property you would like to transfer the transaction to in the box so it is highlighted black:
NOTE: Property Transactions that are not 'Accumulated Rent' can be transferred to either another Property or to the Buffer Account if they are created in error. Property Transactions that are accumulated rent transactions cannot be transferred as they are system generated transactions.
Transferring a Property Transaction to the Buffer Account
Then, click the Transfer to Buffer Account button and a pop-up box will appear to confirm you want to transfer the transaction to the Buffer Account. Click Yes to transfer the transaction.
Clicking Yes will transfer the transaction to the Buffer Account and for all intents and purposes, the transaction is now gone.
NOTE: Your Chintaro System Administrator will be able to see all property transactions that have been sent to the buffer account in the System Audit.
Printing an individual Property Ledger
You are able to print the Property Transactions ledger by clicking the Print Ledger button in the Property Transactions Ledger:
Enter an optional ledger start date from the pop up that appears. If you want to print the entire ledger, leave this field blank and click Continue:
The ledger will appear where the transactions will appear like a bank statement, with the oldest transaction at the top and the most recent at the bottom.
From this screen, you can use the functions at the top of the screen to print the ledger, create a PDF, Email the Statement or export to Excel:
Click Close Print Preview to close the window and return to the property screen.
Exporting an individual Property Ledger
To export an individual Property Transactions ledger, click the Export Transactions button in the Property transactions section:
Chintaro will export straight to Excel and you can use the data outside of Chintaro:
Setting up Transaction Groups for Property Transactions
Setting up Transaction Groups for Properties allows you to group various sets of transaction types together. This allows you to see the property's balance of each group individually, allowing for greater breakdown of totals for transactions.
Setting Up Property Transaction Groups
From the Home Screen, click System Maintenance, then click Reference Tables and select the Report Group / Transaction Group table:
The Transaction Groups listed in this section are the same for Properties and Tenancies. All Report Groups should have the Txn? and Active boxes ticked if you would like to use them in either Properties or Tenancies.
If you would like to add new Transaction Group, go to the line at the bottom and add a new row, ensuring the 2 tick boxes are selected:
Once complete, select the Transaction Type Property Reference Table:
Go to the Report Category 2 column in the Transaction Types reference table. For all Transaction Types that do not have a Transaction Group, you will need to select a Transaction Group that this transaction belongs to. For example, if you create a new Report Group of Centrepay Fees you would select this for the Transaction Type of Centrepay Fees:
You may also want to group various Maintenance costs by the Maintenance Transaction Group, so you would select 'Maintenance' from the Txn Group drop down list, etc. Continue down the list of Transaction Types and select a Transaction Group for each type:
Once the Transaction Groups have been assigned to each Transaction Type, these will appear on the Balances section of the Property screen, and on the Property Transactions ledger for each Property:
Transaction Group Balances in the Manage Property Transactions screen
Along with appearing on the individual Properties, the Property Transaction Group Balances will also appear on the Manage Property Transactions screen.
To view all Property Transactions, from the Home Screen > Finance > Property Transaction Functions > Manage Property Transactions.