Mortgages
A mortgage is typically considered this
What is a Long Term Liability
A PM wants to change their ePay routing number, so the C2d agent does this
What is submit a Jira ticket to the Payments team
When recording a tenant-paid tax on the lease ledger, the customer is advised to allocate it to this GL account
What is an Income account
Which general ledger account do we typically associate with moving the Security deposit money from the PM to the RO?
What is Money in transfer or Deposit transfer
This new feature will divide a single manual payment that has both a liability and an income amount into two separate bank accounts when this is set up
What is Split Payments
For recording Property value, which General Ledger account would be used
What is Fixed Asset
A PM say that their inspection report is not syncing to Buildium. They are using an Android. Following this article is a step in troubleshooting
What is Android Sync Settings from Happy Inspector support
Taxes will be withheld by the PM in this type of account until the tax is due
What is a Liability account
The tenant has given the security deposit directly to the Rental owner. We advise the PM to do this on these
What is record a payment on the tenant ledger; record the deposit from Undeposited funds into the OHSD bank account
Refunding a prepayment is done by following these steps
What is apply prepayment to an income account and then issue refund on that income account
Escrow that is held by the mortgage company is considered this, on the General Ledger
What is a Current asset account
To change a user role in Happy Co, an admin would do this
What is sign in to Happy Co desktop app > click on Settings icon > choose Users > choose name > under the user name, click on current role to choose new role
When withholding property tax from the property's income, the general journal entry should be recorded this way
What is Debit expense, Credit liability
The RO instructs the PM to refund the tenant from available cash on the property, so the C2d agent provides these steps to the PM to record these transactions properly
What is Record a check from the OHSD bank account, hitting Owner draw; issue a SD refund to the tenant from the lease ledger using the funds in operating bank account
When unlinking and relinking a customer should do this
What is create a new link
When the PM does not have to track the amortization and they only need to pay the loan, they do this
What is Record Check > allocating to Mortgage Expense
A tenant is on the KBL for a previous R08. A C2d agent would take these 3 important steps
What is create a case; email the PM to get written permission from the tenant to allow the use of the bank account in question; after receiving the permission, the agent will write Forte and request the tenant be removed from the KBL
In some states, it is required to hold SDs in an interest-bearing bank account. For cases where the SD is PMC held, they can add that interest on a ledger by taking these 4 primary steps
What is create an SD interest equity account under CoA; Record a bank deposit for the interest amount earned to be allocated to that SD equity account; add a charge on the ledger for SDL; issue 3rd credit with the SD interest equity account as offsetting account and apply it to SDL
The PM will record this adjusting entry when the RO sends an owner contribution via EFT to return the tenant's SD
What is write a check to their PMC from the OHSD bank account, hitting Owner contribution, in the amount of the SD
A customer wants to know how to use Custom merge fields. The agent steps through the process like this
What is on the Draft leases page click on Settings; then click on Create custom merge field and add custom field information. They can now add the custom merge field to their lease template.
If the mortgage is for a property valued at $100,000 and the remaining principal balance is $80,000. The general journal entry for this mortgage would be
What is Debit Property Fixed Asset $100,000 > Credit Mortgage Liability $80,000 > Credit Opening Balance Equity $20,000
When a customer would like to have their Buildium balance reflect their real world bank balance and they don't want to reconcile, the agent walks through adding an adjusting entry following these 5 primary steps
What is Decide on a new accounting start date; Gather real world financial information; Deposit all undeposited funds; Create an Adjusting Entry equity account; Add a deposit or Record check to bring Buildium property totals in alignment with real world bank totals
A customer will receive a 1099-K form from Buildium or Forte for these 2 main reasons
What is they have an ePay account; they reached the $20,000 threshold in EFT and CC combined for the year
The PM is sending the SD to the RO via EFT and have been advised to do these steps by C2d
What is send an Owner draw from RO's financial page; editing the amount for the SD; after sending, edit the OD to Deposit Transfer; record a deposit in the OHSD on the property, hitting Deposit Transfer
Who is the hardest working, grooviest, most empathetic, most stylish, most knowledgeable, most awesome, crushes it every day, best customer facing team in all of Buildium
What is C2d - of course!!!