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Category: AppFolio Tips

A Prepayment Is Not Cash Income

In AppFolio, a prepayment is typically for rent that is received before it is due. It is treated as a liability and the GL account will often be called Prepaid Rent. It will probably be set up as is the following: Because prepaid rent is accounted for as a liability it cannot be used for…
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Owner Held Security Deposit Scenario

Property Management Company Takes on New Property with an Existing Tenant The scenario is that a Property Manager acquired property that has a tenant in place and tenant’s Security Deposit had previously been paid to owner. Later in time, the tenant decides to move out. The owner is notified but office staff mistakenly only ask…
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Deposit Disposition Letters in AppFolio

Have you ever wanted to edit the disposition letter in AppFolio? Maybe you’d like to modify it so that there is not a phone number included. This can be done and here’s how: Navigate to the Reporting section and then select Letters from the subtask of menu items from the left side navigation panel. In…
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Entity Distribution vs Property Distributions

Here’s a head’s up for something to watch out for in Property Management Trust Accounting software such as AppFolio. The scenario would be if you ever run a property negative (which definitely could happen) – because this is property-based accounting, it will actually draw the entity negative which results in an illegal commingling of funds.…
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Rent Credits to Tenants

Here are some commonly asked questions about Rent Credits to Tenants, “What GL account would I use for rent credits to a tenant?”; “Would we use an other GL account?”; and “Does it matter whether this is set up as an expense versus income?” These are good questions. Tenant credits need to be accounted for…
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Non-Sufficient Funds Payments from Tenants

Here’s a scenario in which the Tenant has bounced payments more than once and you no longer want to allow this to continue. What are the Property Manager’s options? To start, it is important to consider that most property managers prefer that payments are made electronically. This saves time and virtually eliminates the possibility of…
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Security Clearing Account

What is the Security Clearing GL Account? Every AppFolio database includes a list of key GL accounts (the Chart of Accounts) prior to going live with AppFolio that includes a Security Clearing GL account. This account is not necessarily an income, expense, asset, liability or capital type GL account. Security Clearing is a pass-thru GL…
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Triple Tied Out: Three Times A Charm

The AppFolio Accounting system has a three-way reconciliation process that APM Help commonly refers to as Triple Tied Out. A three-way reconciliation is the comparison of the ending balance of your bank account, the cleared items within the current month, and the cumulative running “adjusted” balance for all of your ledgers to date. That was…
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Uncleared Items on the Reconciliation Screen

Let’s talk about “Uncleared’ transactions in a reconciliation. This does not have to be a lengthy discussion. It’s just important to know that any uncleared deposits show the availability of funds that are potentially not there and could cause overpayments; thus overdrawing the bank account. Uncleared checks are important to monitor as well, but this…
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“Repeat” Feature Shortcut Hint

Are you using the “Repeat” feature in AppFolio? This is a shortcut that can help you streamline postings. This shortcut can be found in a couple of places. One place where it can be found is on the New Bill screen. It can also be found on the Journal Entry Details screen, And on the…
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