By now, we are all looking eagerly toward the holidays, the end of the year, and the upcoming 2016 annual symposium!
In order to close out the year end accounting books in the most seamless and stress-free way, we’re sending this reminder check list with important year end tasks to complete during the next 3 to 5 business days. In short, we appreciate all of your support in getting:
- All income posted in Yardi,
- All income deposited at the bank
- All invoices entered into Yardi and mailed to SERC, so we can get your property vendors paid before the end of the year
Please prioritize these accounting tasks during the next 3 to 5 business days to allow a little cushion time in the event of US mail delays and/or any questions that might arise. Our goal is to have all site related resident income, move-in/move-out activity, and invoice entry completed and mailed (i.e. postmarked) by next Friday, December 18, 2015.
If you have any questions about the specific items listed, please contact your supervisor or yardisupport@cresapts.com.
As always, we thank you for your support.
Checklist for Year End Accounting Close
Aged Receivable Report
- There should be no more 5% of the total number of units for the property appearing on this report.
- There should be no outstanding balances listed beyond the 0-30 day column.
- There should be no households listed that have a move out date older than 11/15/2015.
- There should be no current residents showing a balance owed to rent beyond the 0-30 day column on 12/18/2015, unless an eviction has been filed.
- All remaining balances or credits less than $15 should be adjusted off (Excludes: Tax Credit, RD, Section 8, or HUD occupants). Work with your accounting representative on this.
- You might need to knock on some residents doors and/or send out delinquency notices to make sure payment demands are clear with your current residents.
Security Deposit Activity Report
- Totals for Security Deposits “On Hand” match the total listed as “Billed”. You should strive to eliminate all delinquent deposits prior to next week. You might need to knock on some residents doors and/or send out delinquency notices.
Move-outs
- All residents with move out dates listed prior to 12/18/2015 should be processed in Yardi on or before 12/18/15.
- Appropriate documentation for all move outs with refunds due should be been mailed to the Site Employee Resource Center (SERC) by December 18, 2015 at the latest for processing.
- All remaining residents with a move out date prior to 12/18/2015 and with a move out balance owed to the property should be mailed from the site manager’s office by December 18, 2015.
Move-ins
- All Applicant data should be entered into Yardi on or before 12/18/15.
- Move-ins occurring prior to 12/18/2015 should be entered into Yardi on or before 12/18/15.
Property Income
- All forms of resident payments should be entered into Yardi and deposited to the bank by 12/18/2015.
- All forms of miscellaneous income (i.e. laundry coinage, vending monies) have been entered into Yardi and deposited in the bank as of 12/18/2015
Vendor Invoices
- All vendor invoices should be entered into Yardi and mailed to the Site Employee Resource Center (SERC) by 12/18/2015.