Once you have gathered all the information, you want to be able to see what’s happening, when rents are due, which rents are late, how well your properties are doing, prepare for your taxes and so on. To do so you will produce reports by clicking on Reports in the menu.
STEP 1: Select a Report Type
In the Reports menu, select which type of report you want to run through the drop-down list as shown below (1). By default the software will list all reports (2).
However, if you want to limit the list of available reports to the section you’re interested in, you can select a “Section” such as Accounting, Workorder, Tenant, Vendor, Landlord, Building, Unit, Receipt, Invoice, Cash flow, etc. If you’re unsure, you can leave it to All which will list all available reports under the drop-down menu. For example, displayed in the screenshot below is the result of entering “Tenant” into the report field (1). Only reports that are related to the tenants section are displayed (2).
STEP 2: Select a Report
Select which report you want to run through the drop-down list of the Report box. You can generate different reports displaying List of items, Accounting Entries, Expenses, Revenues, Late Accounting Entries, Rent Rolls, Vacancy Reports, Late Rents, Expiring Leases, Cashflows, etc.
For example, if you’re looking to see what the difference is between the income and expenses, the report “Accounting entries” (1) in effect is giving you a profit/loss report.
As for the “late payments”, these will give you an ongoing list of all your accounting entries that are still outstanding. There are various options to choose from within the “late payments” section as shown below in order to find outstanding entries in any specific area.
You will notice that many reports can also be grouped by the variable of your choice such as building, account, category, tenant, vendors, etc. so you can have a mean to subtotal and compare and evaluate which of your buildings, accounts, categories, tenants, units, etc. are more or less profitable than the others. This is also very useful for tax preparation purposes such as dealing with the 1099 statements and such.
Please note that your personal letterhead/logo, which you set for the Logo Preferences, will also appear in the header of the printed or exported report.
STEP 4: Select specific constraints
You can then narrow down further the set of data for the report by specifying constraints such as which building, tenant, dates, and so on you want a report about.
Please note that if you set a Start and/or End Date for any of the accounting reports, the software will only include accounting entries that have been paid (Date Paid) between those two dates (Start and End Dates). Therefore a rent for December 1st that was paid 45 days late, in January of the following year, needs to be reported as income in the year it was collected for tax and accounting purposes, not the year it was due (doing so would be incorrect). The same is true for a corporation with a non-calendar fiscal year. If no date is specified it will include ALL entries, including those that haven’t been paid (because no Date Paid range has been specified for the report).
STEP 5: Generate the report
Once you have selected your constraints, press the Generate button to generate your report.
STEP 6: Print or email the report
Once you’ve generated a report, you can then Print, Export, or Email the report depending on your needs. All reports can be exported to PDF, Excel, CSV, and so on. If at any point any field is modified after the report has been generated, the report needs to be re-generated to reflect the new data before being exported or printed.