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What options are available for Transaction Categories?


In this section, a comprehensive list of all transaction categories is listed and can be seen at a glance. The drop down menu allows you to filter each transaction according to their type for a more efficient view. By clicking on the name of the transaction category (for example, "Accelerated Rent Charges" under name in the image below), the hyperlink will direct you to a more in depth description of that transaction.

For your information, the transaction categories abbreviations used throughout ResMan are indexed here.

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 New Transaction Category - Creates a new charge, credit, deposit, or payment category to which transactions can be posted

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1.  Admin > Transaction Categories> New Transaction Category

2.  Note the Name and Abbreviation must be unique across all categories

3.  Description is optional

4.  Type:  Charge, Credit, Payment or Deposit

5.  GL Account:  Enter the GL Account used for these transactions

6.  Auto credit category - Credit category to be used when adding automatic credits

  • Only available when setting up a charge

7.  Applies to charge - Used for the Economic Occupancy (Boardroom: Property Summary)

  • Only available when setting up a Credit
  • Anything that is used in your Economic Occupancy calculation (Concessions, Vacancy, Discounts, etc.) should be setup to Apply to Charge: Rent

8.  Rent charge - Indicates that the category is considered Rent 

9.  Late fee assessable - Indicates that the category should be included when calculating late fees

10.  Late fee revocable - Indicates that concessions tied to the credit category should be reversed (revoked) when a resident is late.

11.  Write off on move our reconciliation

  • If this option is checked, the charge will be Written off to a bad debt account (The collection account is selected in Admin > Transactions> Bad Debt Write Off)
  • If this option is not checked, that charge will be reversed  
 

 


Adding a New GL Account and Transaction Category - If you need to add a new GL Account and Transaction Category for that account

1.  Click > New GL and Category link

2.  Follow the steps for adding a new transaction category.

 


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