Follow

During a Move Out Reconciliation, will the charges be Written off (write off, write-off)?


Instruction

During your Move Out Reconciliation, if the resident has a balance, you will have three options:

 
If you choose one of the highlighted options, the resident's balance will be brought to zero.
 
But where does the "written off" balance show up on your (accrual) financial statements?

The answer depends on each Transaction Categories setting. See below:
 
 
 
For each Transaction Category, you will need to look to see if it is being "written off".
 
If YES: That debit will go to your Write Off General Ledger account. The Transaction Category used will be found in Admin > Settings, Transactions:
 
 
 
 
 
If NO: Then the debit will hit the same GL account that was used initially. In other words, if you reverse a Late Fee, then it will debit Late Fee Income.

 

Have more questions? Submit a request
Powered by Zendesk