The Appfolio Experts

Appfolio Help

Troubleshoot the Adjusted Cash Balance Step 1: Bank Reconciliation Diagnostic Report

by

Below is important information on troubleshooting an adjusted cash issue. If you are having trouble making heads or tails, let us know and we will help. Typically adjusted cash issues present themselves in the month with erroneous information. If you have been reconciling fine and all of a sudden you notice an adjusted cash issue, odds are the transaction occurred in the month you are reconciling. The biggest culprits are Bank Adjustments, Receipts deposited outside of the current month, or Journal entries.

Open the Reconciliation Report

Open and review the Bank Reconciliation Diagnostic report to check if your adjusted cash balance is still In Balance as of the last statement ending date.

  1. On the bank reconciliation screen in the Reports menu on the right, click Bank Reconciliation Diagnostic. The report will download or open.
    User-added image
  2. Scroll to the very bottom of the report where your cash balances are listed. Do you see “In Balance” or “Out of Balance”?
  • In Balance – This means that any transactions causing the discrepancy occur are dated in the current statement period. Continue to Step 3: Troubleshooting Adjust Cash Balance to find and fix the transaction(s) causing the discrepancy.
  • Out Of Balance – Navigate to your bank account page and scroll to the bottom. Open your most recently saved reconciliation report and compare if this is saved In Balance or Out of Balance. See Next Steps for direction on how to proceed.
    User-added image

Next Steps

The next steps for troubleshooting your Adjusted Cash Balance depends on whether your Bank Reconciliation Diagnostic is In Balance or Out of Balance. Look at the following three scenarios to see how to proceed:

Bank Reconciliation Diagnostic Is “In Balance”

Proceed to the first troubleshooting step of this flow chart for steps on how to troubleshoot the bank reconciliation Adjusted Cash Balance.

Bank Reconciliation Diagnostic is “Out of Balance”, Saved Reconciliation Report is “In Balance”

Proceed to Find Backdated or Edited Transactions for steps to troubleshoot.

Bank Reconciliation Diagnostic is “Out of Balance”, Saved Reconciliation Report is “Out of Balance”

If both the Bank Reconciliation Diagnostic report and your saved reconciliation report are out of balance, the next steps depend on if the reports our out of balance by the same amount or a different amount:

  • Same Amount – If both the Bank Reconciliation Diagnostic and your Saved Reconciliation Report are out of balance by the same figure, it is recommended that you submit a support request to have a Customer Success representative take a look before proceeding.
  • Different Amount – if the Bank Reconciliation Diagnostic and your Saved Reconciliation Report are out of balance by different figures, proceed to Unreconcile a Previous Statement Period.

STEP 2 Coming Soon…

Appfolio Leasing

by

Send Multiple Terms (12 Mo, 6 Mo, Etc) At Renewal

You can now prepare a renewal offer for your tenants that includes multiple term options, such as a 12-month term, 6-month term, etc., in addition to a month to month. Tenants can view all their renewal options in their online portal and sign the one they’d like to accept.

Here’s a sample of what the multiple offers will look like in the tenant online portal : multiple_renewal_offers_whats_new_v2.png

Sincerely,

Randall Zambory
1200 N Federal Hwy Suite 200

Boca Raton, FL 33432
Cell: (561) 430-9336Office: (561) 295-8995
Randy
www.pmbookkeeper.com
uc?id=1TyH-831JS7epMfS8mMGLHd1ABtlElMWw&export=download

Generate an Invoice for Tenant Charges

by

You can now generate a PDF invoice to provide to a tenant for an unpaid charge on their ledger. The invoice includes the property name, address, an invoice number, invoice date, due date, and any additional descriptions and terms and conditions you wish to provide. Invoices are saved as an attachment on the tenant charge.

Other Receipts

by

Today we wanted to discuss "Other Receipts"

In Appfolio under accounting and receivables, you will notice a task named "Other Receipt"

This task is used primarily for any sort of funds coming into your account that you need to make records of. For Example, if you received insurance money to fix a broken deck, you would use the "Other Receipt" Function. It is also important to be aware of which GL account to use. A reimbursable item should be booked differently than rent income.

Here are the steps to enter an other receipt.

Other Receipt (Non-Tenant Receipt)

Accounting > Receivables > Other Receipt

Enter:

  • Received From
  • Amount
  • Property and Unit (If provided)
  • Appropriate GL Account
  • Receipt Date (Date of Check/payment)

Once the receipt is entered, deposit the receipt using the date provided on deposit slip.

Accounting > Receivables > New Bank Deposit

Online Lease Agreements

by

Good Morning Everyone,

Today we wanted to briefly discuss online leasing in the Appfolio database. This is a very powerful tool that needs to be set up and adopted by each appfolio user. I have created over 100 leases in the appfolio database. Here are a few tips I wish I would have known about years ago.

1. Online leasing begins with your lease document. I would recommend having a local real estate attorney draft a general lease that fits your company and owners needs.
2. By General lease, I mean have the Attorney leave blanks where data needs to be entered. IE: Rent Amount, Deposit Amount, Pet Addendum..
3. Have your attorney deliver the lease to you in a word document.
4. Transpose that word document into appfolio leaving clear blanks where data needs to be entered. Fill in Blanks after to save time in building the doc.
5. Once all verbiage is entered, go back to the blanks and start using the pre fill data options available. Keep in mind you may also create manual fields if you do not see an option. For example if your lease asks how many pets a tenant will have, you would create a manual field and name it: "How Many Pets Does The Tenant Have? (Answer numerical only)" ..This way when creating a lease, you can manually enter how many pets a tenant will have.
6. Each page of a lease has an area to initial at the bottom. Keep this in mind when following along with the lease created for you. If that lease has 10 pages, your online lease should also have ten pages.

Additional Tip: Let the attorney know of the appfolio layout. We only have options for 1 signature spot and multiple initial spots as well.

Owner Statement Ending Balance Issues

by

Good Morning Everyone,

Today we wanted to discuss owner statement ending balance issues. This issue can seem daunting at times, but we are here to help you breeze right through it. Here are the steps we use to determine a cash balance issue not already evident on the owners statements.

1. You will want to pull up the owners statement in question and see the ending cash balance. For this example, we are going to use an owner with a negative cash balance after we paid him out this month.
2. We noticed on the owners statement that his ending balance after we paid him out was -$100.
3. After we have verified the owner in fact is showing an odd balance, we will go to his property page and determined which fees are suppressed.
4. You will need to go to the reporting section and open a GL report. Run the GL for all time, or since 1900, and filter for the GL accounts that were suppressed on the owners statement.
5. Determine which GL accounts are not 0. Keep in mind, these suppressed GL accounts should have an ending balance of 0.
6. If you are showing a negative number, that means you need to collect that amount of late fees. If you do not collect that amount, the system will pay it to the owner.
7. It is because the fee is suppressed, it does not show as income on an owner statement.. If you do not pay yourself prior to paying the owner, appfolio will pay out total funds held on property including suppressed money not paid to your company.