Performing Full Reconciliation

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

Reconciliation periods can only be added when the contract is active. 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 Menu > Contracts and open the required contract.
  2. Click Reconciliation.
  3. Click .
  4. Select a Start Date and End Date for the period.
  5. Select a Status. Note that if the status is "Partially Reconciled" or "Reconciled", you cannot delete the reconciliation period.
  6. Enter any additional information in the remaining fields.
  7. Add any additional notes and attach any required documents.
  8. Click Save and then click Expense Type Mapping at the top of the window.
  9. In the Expense Type Mapping tab, map your Condition Expense Type to an Operating Cost Expense Type.
  10. Click Save.

Once a reconciliation period is created, you can calculate reconciliation amounts and create payment adjustments in the Reconciliation tab of the period window. Legacy terms that fall within the reconciliation period are not included in the calculation.

When reconciliation adjustments are created, the application creates a draft contract version with new rent table terms reflecting the adjustment amounts. If there is an existing contract version, the new terms are added to it. Adjustments can only be created for the currency associated to the location. Note that your contract must be active to calculate reconciliation amounts.

To calculate reconciliation amounts and create adjustments:

  1. Click next to the reconciliation period you would like to do calculations for.
  2. Click Edit Period.
  3. Click Reconciliation at the top of the window.
  4. 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.
  5. Once the reconciliation amounts are calculated, click Create Adjustment.
  6. The Currency (Activation Group) field is set to the location's default currency and its associated activation group by default, and cannot be modified.
  7. For each row in the table, fill out the following fields:
    1. Select the Expense Category of the adjustment.
    2. Set the Due Date.
    3. 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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