PROMAS Landmaster. Table of Contents. Training Exercises - Day 2

Transcription

1 PROMAS Landmaster Table of Contents Training Exercises - Day 2 Owner Distribution Checks...3 Late Fees...9 Categories...15 Rent Credits / Rent Changes...21 System Security...25 Prorated Rent...31 Reconcile Bank Account and 3 Way...37 Internet Publishing / PROMAS Central...47 Posting Table...61 Set Aside Owner Funds...65 Reports...67 Create a New Report...71 Add Fields to Report...77 Training Questions...81 PROMAS Landmaster Training Exercises-Day 2 6/2014 1

2 2 6/2014 PROMAS Landmaster Training Exercises-Day 2

3 PROMAS Landmaster Training Exercises Owner Distribution Checks 1. The following four people are not getting their distribution checks. Figure out why. Fiscella Stoy Porach Schenk 2. List ways to hold back funds from a distribution check. Owner gives you $500 toward new furnace purchase. Work order estimate or invoice on hold Owner asks that $200 a month be reserved until $1,000 is accumulated. Recurring journal entry Owner asks you to stop sending distributions until July. Advanced scheduling PROMAS Landmaster Training Exercises-Day 2 6/2014 3

4 1. Ficella - minimum distribution is $500 surplus is $ Stoy - work order with $2,750 estimate 3. Porach - distribution reserve is $ Schenk - next scheduled date is in the future 4 6/2014 PROMAS Landmaster Training Exercises-Day 2

5 PROMAS Landmaster Training Exercises Late Fees 1. The tenants listed below have unpaid charges. Go to AR, Scheduled Receivables, Late Fees and compile late fees for the 9th. Why aren t they all being charged a late fee? a. Hudock b. Rodriguez c. Stieffel d. Spotz How can this be overridden? PROMAS Landmaster Training Exercises-Day 2 6/2014 9

6 Late Fees Hudock - no late fee selected in the Tenant Profile Rodriguez - unit status is Inactive Spotz - was charged a late fee less than 30 days ago Steiffel - grace period in Tenant Profile is 15 days Late Fee Rules A late fee profile must be selected in the Tenant Profile Tenant must have unpaid charges whose charge code is marked Subject to Late Fees. Those charges must be on or after the Scheduled Through date chosen and outside the Grace Period. The Grace Period entered in the Tenant Profile supersedes the one in the Late Fee Profile. The tenant must have no late fees charged in the prior schedule period. Monthly schedule means no late fee charges in the 30 days prior to the Scheduled Through date chosen. Unit and Owner status must be active. Management Fees The management fee assigned to the unit is associated with a charge when the charge is posted. To see what fee will be taken on a future charge, look in the management fee profile. To see what fee was or will be taken on a previous charge, edit the charge in Tenant Hsitory and click the Show Fees button. 10 6/2014 PROMAS Landmaster Training Exercises-Day 2

7 PROMAS Landmaster Training Exercises Categories 1. Enter a category for Lead Paint. Assign to 327 Cedar Lane and 212 Main Street. 2. Enter a category for Home Warranty with a Reminder Type of Expires and an Alert Type of Work Order.. a. Assign to 327 Cedar Lane. Enter an Expires Date of the end of this month next year. In the Comments field, enter the information pertinent to the Home Warranty. b. Run a report of Home Warranty expirations. Use an end report date of December of next year. 3. Group the schools as below: School ES. Thoreau MS. Wolftrappe HS. Madison Categories Categories can be used to: Limit to on reports Set alerts in Work Orders, Receipts, Invoices, Move Out Track contracts, inspections, warranties Identify amenities on units Refer to Help, Topic Search on Category examples. PROMAS Landmaster Training Exercises-Day 2 6/

8 16 6/2014 PROMAS Landmaster Training Exercises-Day 2

9 PROMAS Landmaster Training Exercises Rent Credits 1. The tenant Guro painted two bedrooms and the kitchen. The owner has authorized you to give him $600 credit against his rent - $200 a month for the next three months. Set up a Recurring Charge for negative $200 for 3 months.. 2. Tenant Schrader signed a one-year lease at $1150 per month and month 7 will be free. a. A management fee will be taken on month 7. b. No management fee will be taken on month 7. PROMAS Landmaster Training Exercises-Day 2 6/

10 22 6/2014 PROMAS Landmaster Training Exercises-Day 2

11 PROMAS Landmaster Training Exercises System Security 1. You have a new employee. a. Give her access to PROMAS. b. Limit transaction posting to the System Month. c. not allowed to void transaction 2. The new employee will not be allowed: a. to print checks b. to modify late fees, management fees, account codes 3. Give an agent access to look at but not change anything. 4. Give access a. to do backups b. to Report Manager PROMAS Landmaster Training Exercises-Day 2 6/

12 To set up a user with view only access: 1. In System Security, select the Access Groups tab 2. Click on New Group 3. Enter a Group Description Name (e.g. View Only) 4. Click on File in Function Group 5. Click on No Access to fill in the radio buttons 6. Click on Logon 7. Mark the View Records checkbox in Function Access 8. Click on Copy to All Groups 9. Click Save 10. Click on the Users tab 11. Enter a User Name, Password and Initials 12. Select the Access Group created above 13. Select Never Allow Posting in the Limit to Date field of Transaction Posting 14. Click Save 26 6/2014 PROMAS Landmaster Training Exercises-Day 2

13 PROMAS Landmaster Training Exercises Prorated Rent 1. Add future tenant Bob Klein in Willow Brook #201. He will move in on the 20th. He has given you two checks, one for the first full month s rent of $800 and one for the security deposit of $800. The partial rent is due next month. a. Post a security deposit receipt for $800. b. Post the rent charge amount for the full month and the prorated amount for the partial month and take a leasing fee of $400. c. Post the rent payment of $800. PROMAS Landmaster Training Exercises-Day 2 6/

14 1. Tenant Profile 1a. AR, Security Deposit Receipt 32 6/2014 PROMAS Landmaster Training Exercises-Day 2

15 PROMAS Landmaster Training Exercises Reconcile Bank Account 1. Reconciliation screen 2. How to Reconcile 3. Three Way Reconciliation PROMAS Landmaster Training Exercises-Day 2 6/

16 38 6/2014 PROMAS Landmaster Training Exercises-Day 2

17 PROMAS Landmaster Training Exercises Internet Publishing / PROMAS Central 1. Internet Publishing Owner Settings Set it up to: Generate Monthly and Annual Statement Publish Recent Activity Publish 3 additional months Statement to run from 16 thru 15 Log on to PROMAS Central 2. Regenerate an Owner Statement for Clayton. Look at the statement in the Document Manager. 3. Add a document to 436 Fairway Drive using the Upload Document button in the Unit profile. View the document in the Document Manager. 4. Add a backup to the Document Manager. 5. Logon as owner -- Goldens@mrh.promascentral.com password=lyn Logon as manager @promas.com password=lyn 6. Setup owner Golden to receive both published and ed statements. 7. Make owner Clayton inactive and set him up to have access to his online account through February Today is Friday the 15th and you want to do statements. What must be done? PROMAS Landmaster Training Exercises-Day 2 6/

18 48 6/2014 PROMAS Landmaster Training Exercises-Day 2

19 PROMAS Landmaster Training Exercises Posting Table Assets & Liabilities Income Expenses Distributions PROMAS Landmaster Training Exercises-Day 2 6/

20 62 6/2014 PROMAS Landmaster Training Exercises-Day 2

21 Ho w To Set Aside Owner Funds for Future Use There are a couple of options from which to choose when you want to set aside some of the owner s money for future expenditures. Set aside is defined as don t spend it on anything but xxxx. 1. The owner wants no distribution checks Go to Profiles, Owner Profile, Advanced Scheduling speedbutton, Distribution Check tab. Unmark the Ignore Scheduling checkbox and set the Schedule to Never. On the Checks and Distributions tab, increase the Base Reserve amount to the amount you want to hold and not use for invoices. 2. The owner gives you money to spend on a specific future expense. a) In the Owner Profile, Checks and Statements tab, set the Base Reserve amount to the amount that needs to be protected and mark the Enforce Base checkbox. Increase it whenever additional funds are received. OR b) Establish a liability account to hold the money until you are ready to use it. This requires setting up 3 account codes. The first would have an account type of Expense and would have a description such as Set Aside for Taxes. The second would have an account type of Current Liability and a description such as Tax Reserves. Mark the Impound checkbox. The third would have an account type of Expenses and a description of Pay Taxes. It would also need a Bill Code pointing to it. Then do a Journal Voucher or set up a Recurring Journal Entry to be run each month throught the GL, Scheduled Journal Entires function. Line 1 Account - Set Aside for Taxes Amount - Debit the dollar amount Line 2 Account Tax Reserves Amount - Credit the dollar amount When you go into the General Ledger History, the money will no longer be in the owner s balance but in the Liabilities box and will not be available for writing checks. PROMAS Landlord Software Center support@promas.com Sales D Maple Avenue West sales@promas.com Support Vienna, VA website: promas.com FAX #259

22 When you are ready to use those funds to pay a bill, you must post an offsetting entry moving the money out of the liability account and back into the owner's available funds. To determine how much is in the Tax Set Aside account, run a balance sheet for the owner under Reports, Ledger Reports. Then do a Journal Voucher: Line 1 Account - Set Aside for Taxes Amount - Debit - enter a negative dollar amount Line 2 Account Tax Reserves Amount - Credit - enter a negative dollar amount To pay the bill, write a Single Check using the Bill Code Pay Taxes created above. Note that the difference between a) and b) above is the balance showing on an owner statement. In a) the full balance is shown while in b) the balance minus the Set Aside amount is shown. Property Management Software-PROMAS Home page Rental Property Software-PROMAS Home page PROMAS Landlord Software Center support@promas.com Sales D Maple Avenue West sales@promas.com Support Vienna, VA website: promas.com FAX #

23 PROMAS Landmaster Training Exercises Reports Exercise 1. Run a tenant lease abstract report and save it as a PDF. 2. Do owner statements so each manager can review them prior to publishing. 3. Create Managed Units report. PROMAS Landmaster Training Exercises-Day 2 6/

24 68 6/2014 PROMAS Landmaster Training Exercises-Day 2

25 PROMAS Landmaster Training Questions 1. The Property Ledger Nuzig has the following (GL, GL History, Nuzig): Available 4,700 Payables 258 Cash 4,000 Receivables 3,705 Escrow 3,580 Deposits 2,880 What is the report that shows all similar situations of money needing to be moved from one bank account to another? 2. How can we find out who the past tenants were for Willow Brook unit 202? 3. How can we determine the year-to-date taxable income for Harrison Golden? 4. I paid off a late fee and rent when I recorded the tenant payment. It should have only paid off rent. What do I do? 5. Someone called and left a message but we only got part of the phone number. How do we find out who it is? 6. We paid a vendor the correct amount but the invoice was for the wrong unit. How do we correct it? 7. An owner paid a bill using his credit card. how do we record that payment in PROMAS? 8. We sent a late notice to a tenant who said his check #7623 was cashed before the late day. How do we find out if we credited the wrong tenant? 9. Our bank statement has a check that was not our in it. What do we do? 10. We only want to head bookkeeper to be able to void anything. How can we set that up? PROMAS Landmaster Training Exercises-Day 2 6/

26 82 6/2014 PROMAS Landmaster Training Exercises-Day 2