Property Management, Tenant Selection, Real Estate News & Tips

New Option: Show Reserve Calculations on Properties & Owners

By on July 1, 2012 in Product Updates, Rentec PM with 1 Comment

PM Users, next time you are surfing around the Accounting Defaults (in Settings), you might notice a new option; Show reserve calculation on the properties and accounts tab?

Enabling this option will cause the application to automatically calculate the property and owners balances and show a secondary figure which subtracts out the reserve.

  • For a property, it will simply subtract the reserve from the balance.
  • For an owner, it will add up all the reserves for properties owned by that owner, and subtract the total reserves from their balance.

Because the property reserve calculation is based on the “rolling balance”, it is recommended that you adjust the Accounting Default item #7 (How many months of rolling balance for property summary?) to be 0 (zero.)  This setting is found directly above the new setting at Settings, Accounting Defaults.

Another new feature which compliments this feature was added as well.  When posting a property expense, the property balance, property reserve, and the adjusted balance (balance minus reserve) will display at the top of the entry page.

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