Show Me the Recons
what does it mean when an item shows up under "book adjusment"
it means we either paid something (money left the bank account) but there is no invoice on ops to back up the payment
or we received a deposit for something but there is no transaction posted on Onesite to match that deposit
Daily Double
can you ROG an order?
do invoices have WTN numbers
No. ROG section only shows you invoices
No. WTN numbers only generate when you create an order
Orders have WTN numbers
Invoices have invoice numbers
The building has 50 apartments. You had 3 vacant units back in August but you moved someone in on August 28th.
It is September 5 and you are ready to send your HAP. You review you HAP and it reads as follows:
Total units in contract: 50
Number of units receiving subsidy: 47
Number of units vacant under this contract: 3
Number of units occupied by market tenants: 0
Can you finalize this HAP? why yes/no?
no.
You only have 2 vacants but your HAP is reporting 3 which means something is wrong and your voucher is not picking up your move in
what does the TRANSACTION DETAIL BY CODE report show you
every transaction you reversed/posted the entire month
Your building has universal AR's effective January 1st.
1.When do you send your 1st, second & third notice?
2.All notices are important BUT why is the 3rd notice particualrly important/ different from the other 2.
September 1
October 1
November
It provides the 30 day notice informing tenant that they will be responsible for the FULL rent of the apartment because they no longer have subsidy
What do the letters DIT stand for and what does it mean when a transaction is in this section of the bank recon (provide an example)
Deposit in transit
it means we posted something on Onesite but there is no back up/money in the bank to match what we posted on onesite
we posted rent manually on onesite but we did not mail the money out. This is why we try to avoid posting rent manually. We always scann our checks.
what does ROG stand for
receipt of goods
what are the name of the binder EIV reports
how often is each report due
MIND
Multiple Subsidy (Monthly)
Identity (Monthly)
New Hires (QT)
Deceased (Monthly)
Daily Double
One of our reports helps us balance/review our security deposits to make sure we are posting SD charges & Payments.
1.What is the name of this report
2. what happens if I post the SD payment but I do not post the SD charge? what shows up on my report
1. Resident Deposit Audit by Fiscal Period
2. you get a variance "credit" under "outstanding deposit" that looks like the tenant overpaid
1. Mrs. Robin Banks won the lottery. The prize was 100k.She told the lottery comission she wanted her 100k to be paid out every 6 months in the amount of 6k.
It is time for her AR, do you count this lottery prize? if yes, how do you count it? if no, why not?
2. your tenant comes to report a change in income what do you do now?
Current Income: $1,500 gross per month.
Their new gross monthly income will be $1,650 per month.
1. yes, it is considered income because it is being paid out periodically.
2. normally you do an IR but this increase is strictly less than the mandatory $200 monthly threshold, management will not adjust the tenant's rent right now. The change will simply be picked up at their next annual recertification.
a tenant moved out and you told accounting to cut a check for the tenant security deposit refund but you forgot to email the FAS to trish/Angelica/Cortney...
what happens with the money the tenant gave us when they moved in?
It sits in the security deposit bank account and the account stays open forever because Tricia and her team do not know the tenant no longer lives with us.
Also, since accounting paid the tenant refund from the rent account, the rent account (operating) is short in money until we give Tricia the FAS so she can close the SD account and put the funds back to the operating.
The elevator went down and you placed a service call to get it fixed. When the invoice was delivered, the invoice total 15,000 and you processed it under GL 6551 (elevator contract).
1. why is Michelle going to get very frustrated with you?
2. what needs to happen in order the correct this?
1. financials that are given to owners are going to look as if we went over budget and Michelle gets a call from someone in MMS questioning why this keeps happening lol!
2. accounting now has to manually change the entry to the correct GL and re run the financial reports again.
Daily Double
Mr. Sam Sung moved in August 1 2025. During move in, Mr. Sung explains that he is now retired. He reports income from social security. You complete his move in and calculate a total annual income of 12,000.
When you start preparing for your August 2026 AR, your EIV report says there is a $60,000 income discrepancy. The Period of income on the report is from May 2025 until April of 2026.
1. Is this discrepancy valid?
2. why is it valid/not valid
3. Do you need to do anything?
1. not valid
2. period evaluated was prior to Mr. Sung moving in
3. you write a note on the actual report explaining why the discrepancy is not valid.
In a HUD/LIHTC building when are rent variances on your Lost rent summary reports valid (examples)
You run your report and you see a one dollar variance because you had a move out in the middle of the month and the system rounded up the prorated rent.
What should you write on your variance explanation sheet ?
1. retro GR & subsidy termination
2. NOTHING! the variance is NOT VALID. You must fix the variance! The only time you explain a variance is when it is valid (retro GR or temination)
1. when can a building do self certifications at Move in
2. Genereally speaking, when can a LIHTC building do self certifications
1. Never
2. properties where ALL UNITS are low-income generally allow tenant self-certification of income and student status annually without needing third-party verification AFTER the first year of occupancy.
Note: State Housing Finance Agencies (HFAs) can enforce stricter rules than the federal baseline, such as requiring third-party verification every few years or if income shifts drastically
one of my bills is not on RUM but it is on autopay directly with the company provider (coned).
Does this mean this item would show up on my bank recon every month yes or no? where in the recon? why?
How do we solve this?
yes it does. in the book adjusment. Because the invoice is not being uploaded through OPS and accounting does not have a copy of the invoice to match with the money leaving the account every month.
First we remove the autopay
If the account is a utility bill, we add to RUM by emailing ip_research@RealPage.com
If the account is not a utility bill, we upload through ops like all of our regular invoices.
1.What are the 3 steps of the OPs process?
2.some vendors upload there own invoices on Ops so that you dont have to. When this happens, what do you have to do on your end?
3.how can you identify when a vendor uploaded the invoice for you vs when you or someone at MMS uploaded the invoice.
4. give me an example where you only need to ROG and you do not need to uplaod image & you do not need to create an order
1. create order-upload image of invoice-ROG approve
2. you have to create the order/WTN and ROG
3. When you go to the ROG setion and click on the invoice, the link URL image says "merchant" instead of "Doc" and the invoice is a generic image with 3 boxes at teh top.
4.when you shop directly from ops from certain vendors like Staples or HD Supplies.
You print your Master file reports and notice the new hire reports is showing that Mr. Joe King has a job that was never reported (tenant is not disputing income). What now?
You send a notice to the tenant:
1. how many days in your notice for the tenant to come down?
2. when the tenant comes see you, what are you asking for?
3.What do you do with the SUMMARY report?
4. what do you do with the DETAIL report?
4. what do you do to add the income?
1.issue a 10 day notice to tenant to confirm job
2. since the tenant is not disputing income, collect 4 paystubs or 3rd party (verify income)
3. put a note on the new hires summary report with your action
4.keep the detail new hires report in the tenant file
5.do an IR
Mrs Candy Cane moved in, her deposit should be 1500.00. The tenant gives you 2 money orders (one for $1000 & and one for $500). You manually posted the SD charges, you mailed the Money to corporate with the W9 but you forgot to post the manual entry for the 2 payments in the tenants SD ledger. What shows up on the month end report that tracks our security deposits? and what happens to the tenants SD ledger?
The tenants SD ledger will reflect a balance due like she never gave you any deposit.
The Month end report -shows a variance of 1500 under "outstanding deposit" and a zero under "deposit received"
Daily Double
Live in Aide
1. what do we need to verify for a live in aide?
2.do we count the live in aide income?
3. Are out of pocket expenses for services provided by the live-in aide, such as bathing or dressing considered as eligible medical expenses?
1. social, need to meet screening criteria, medical need
2. No
3 Expenses for services provided by the live-in aide, such as nursing services (dispensing of medications or providing other medical needs) and personal care (such as bathing or dressing), that are out-of-pocket expenses for the tenant and where the tenant is not reimbursed for the expenses from other sources, are considered as eligible medical expenses. Homemaker services such as housekeeping and meal preparation are not eligible medical expenses
DAILY DOUBLE
A tenant moves in and give you a M/O for 1st month rent & one for Security Deposit.
You scanned both money orders and then you manually enter the security deposit amount on the deposit ledger. Does this show up in your bank rec? in what area? why? How do we solve this
it shows up in the DIT
1. since you posted a manual transaction on Onesite for the SD but did not mail the money to corporate, there is no money in the security deposit bank account to match the manual entry you did.
2. Since you scanned it, the money is sitting in the wrong account. Accounting needs to cut a check from the rent account (operating) and deposit it to the security deposit account. Also, they need to post a manual correction to fix the credit on the rent ledger because you scanned 2 checks instead of one to the tenants ledger.
show me how!
I have an invoice #22222 and a WTNxxxxx. Amount is within your limit so it does not need Regional Approval but when you try to ROG, there is nothing to link?
What now?
investigate both the invoice and the order have the same Vendor code and dollar amount
Mr. Chris P. Bacon is a difficult tenant and he refuses to complete his annual recertification which is effective May 1 2026.
1.what month is the last month you have to terminate the subsidy?
2. what would be the effective date of the termination?
3. since we voucher 1 month ahead, when do we terminate the subsidy?
1. 15th month (July)
2. 4/30/26
3. June
It is August 2026 and J. Staso just emailed you an approved retroactive rent increase effective January of 2026. You have 50 units. The old rent is 1168 and the new rent is 1300
You finalize all your signatures in the system by August 30th.
When you do your September month end, will you have a variance on your Lost Rent Summary report? if so, a gain or a loss? how much?
new rent=1300 old rent=1168
New rent - old rent=132
132x8months=gain (1056) per unit
1056x50 units=58,800
Lets do some math
Annual Gross Income: $25,000
what is the tenant total payment (rent)
3% threshold: $25,000 × 0.03 = $750
$1,200 - $750 = $450
25,000-450=24,550
30% of 24,550=7365
7365/12=614