Performing Reconciliation

You can create reconciliation periods and calculate reconciliation amounts in the Reconciliation tab.

Reconciliation periods can be added at any time. You can only create a reconciliation period for years that are defined in operating cost periods. Reconciliation periods cannot have overlapping dates.

The application uses the following logic to calculate reconciliation amounts:

Pro share of operating costs - scheduled payments for the corresponding expense category with dates that are within the reconciliation period.

Note: Before creating reconciliation periods, you must first define "Pro Share" Conditions that will apply to the operating costs.

To create a reconciliation period:

  1. Click Main > Leases and open the required lease.
  2. Click Reconciliation.
  3. Click .
  4. Select a Reconciliation Year. Note that available years are based on years entered for operating cost periods.
  5. Select a Start Date and End Date for the period.
  6. Select a Status. Note that if the status is "Partially Reconciled" or "Reconciled", you cannot delete the reconciliation period.
  7. You must map your Condition Expense Type to an Operating Cost Expense Type.
  8. Attach any required documents.
  9. Click Save.

Once a reconciliation period is created, you can calculate reconciliation amounts and create charges. Charges can only be created for the currency associated to the location. Note that your lease must be active to calculate reconciliation amounts.

To calculate reconciliation amounts and create charges:

  1. Click next to the reconciliation period you would like to do calculations for.
  2. Click Edit Period.
  3. Click Calculate. The application calculates reconciliation amounts for the period, using the operating costs for the specified Reconciliation Year. Note that negative amounts are displayed in parentheses.
  4. Once the reconciliation amounts are calculated, click Lease Reconciliation Charges.
  5. Enter a Charge Name.
  6. Select the Expense Category of the charge.
  7. Click Include to add this charge under One Time Payments in Scheduled Payments. If the charge is not included, you will be unable to post it.
  8. Click Save.

See also:  

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