GPR
The difference between Market Rent and Potential Rent
What is the Loss/Gain to lease?
This report is where the AR has to tie out.
What is Trial Balance?
The action of moving an amount from one general ledger account to another.
What is a reclass?
The difference between a budgeted income or expense number and the actual income or expense in a particular month or year-to-date.
What is a variance?
FCRF for short
What is Financial Change Request Form?
Adjustments to rent for a month outside of the current operating month that avoids false vacancy.
What is PPRA?
If a past resident has this on the ledger you cannot write it off, you have to audit the ledger to see why it exists
What is a credit?
DAILY DOUBLE
A property’s financial statements and transactions over the life of the property, complete with debit and credit account records that validate the trial balance report in detail.
What is a General Ledger (GL)?
Variance Notes should be added here
What is Yardi Voyager?
Extra Credit: Financial-analytics-Notes Section
These types of expenses can be added to automatically feed into your accrual tab for your accountant to audit if the bill has been paid or not.
What are Recurring Contract Accruals
This is the amount our unit is valued at, and is set by your RM/VP or your Revenue Management software.
What is market rent?
This is the summary type you should use when running your AR Report
What is Resident By Charge Code?
A calculation that is defined as total revenue minus total operating expenses.
What is Net Operating Income (NOI)?
This is the Avenue5 Standard threshold for making a variance note
What is $500 and 5%?
What is Budget?
What is Actual Rent?
This filter allows you to see which resident is causing your AR to not tie out
What is AR Tie Out By Resident?
Income and expenses are reported as the items are incurred, not as cash flows
What is accrual-based accounting?
These are 3 main notes for every good variance note to include
What are: specific reasons, action items, whether favorable or unfavorable?
The final operational approval for all FCRFs.
Who is the regional manager?
The amount between actual rent and potential rent
What is vacancy?
This function resets the back-end Yardi data allowing the AR to tie to the Trial Balance
What is "reset datamart"?
Total Rental Income DIVIDED by Total Potential Rent
What is Economic Occupancy?
No matter the variance these sections should ALWAYS have a note
What are TOTAL categories?
The FCRF is first due to the accountant at this time.
What is Pre-Close?