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