Odd Man Out
This should be recorded year-round, but has 1099 tax repercussions if recorded incorrectly.
What are vendor refunds
If you want GPR figures to post to reports such as the General Ledger or Income Statement you will need to post these.
What is a GPR Journal Entry?
This feature stops transactions from being recorded in previous periods after all accounting has been finalized
What is close account periods
This represents the Management Company business
What is a corporate entity
This feature is used to split up the cost of a Utility Bill in a MFR without submetering
What is RUBS
These are the steps to properly record a vendor refund.
What is:
1. Vendor Credit - from original GL used on bill
2. Vendor Bill - from Vendor Refunds GL (exempt from 1099)
3. Pay Bills flow - tie bill and vendor credit together
4. Other Receipt - from original GL used on bill
The success setting to "Enable Collection of Management Fees on Prepayments" is an important step in enabling this accounting setup
What is setting prepayments as income?
You can enable Payroll automation here
What is nowhere! It's not supported in AppFolio
What is Common Area Maintenance
This feature included for Max customers (V+ for everyone) allows customers to make informed decisions about pricing vacant units.
What is Leasing Signals
This is how you establish a mortgage balance
What is a JE that debits Asset and credits Liability
Corporate GL accounts can be found here
What is Accounting > GL accounts > Corporate Chart of Accounts
Delinquency, Concessions, Vacancy, and Loss to Market are all reasons why the full amount of this was NOT received per month.
What is Gross Potential Rent (GPR)?
(Market Rent is another acceptable answer)
This is a group of expense accounts used to track paid bills on the property against one income account
What are GL Account Groups
These are 3 unique transactions that stem from the feature handling Suppressed Fees at Move Out
What are -
1. Tenant Credit: amount of any unpaid suppressed charge from same GL accounts.
2. Tenant Payable Credit: amount of the suppressed fee(s) from the same GL accounts.
3. Bill to PMCO: from the suppressed fee GL account(s); created through the move out flow.
This represents transactions owed to the corporate entity
What is a corporate charge
This feature automatically reserves tax funds and withholds them from being paid out to the property owner
What are Tax Authorities
These are the 3 Commercial Lease Types
What are N, NN, and NNN
(Single Net, Double Net, and Triple Net)
DAILY DOUBLE!
Dual Operating is set up in this order
1. Enable the feature in Success Settings
2. Create the new Expense CASH account
3. Set Expense CASH account as a key account in Manage Accounting Settings
4. Set bank account on property page or with Success tool
These are 3 automation setting options for Corporate Accounting
What are Automate Corporate Charges, Corporate Receipts, and Intercompany Transactions