Accounts

From this Page :

STANDARD ACCOUNTS

Cash Book Entry

The Accounting system enables you to keep track of all transactions through
the Client Accounts. Making entries in the Day Book is similar to entering
transactions in a manual Day Book or Cash Book. After entries are made
here they are transferred automatically to the Properties and Cash Book and
all relevant balances are updated.

The following details may be entered for each transaction:

Date on which the transaction took place.

Type of transaction - see below.

Property to which the transaction relates. (where relevant)

Text describing the item. It may be printed on the Property Statement
or Landlord Account.

Cheque / Reference

Amount of transaction.

VAT on transaction (where relevant).

Account Codes
Types of Account's Entries include:

Receipts

Rents, Deposits, Fees from Tenants & Others
Other credits, Tax rebates Transfers from other
bank accounts

Payments

Remits to Landlords, Deposit Returned, Contractor
Payments, withdraw, Fees and other Transfers.

Journal Entries

Rent from Deposit, Credits/Charges to Tenants
Extra fees to be charged to a Landlord Adjust
Deposits, Reserve or Tax Accounts

Standard Accounting Output

Landlord Accounts

Landlord Accounts are accounts to the Landlord of
all credits and debits against the property for the
current period. It will also calculate any fees due to
the agent and any money to be held for tax retention
or as a float.

List Fees

All items included on the Landlord Accounts which
are due to the Agent. It also includes any Tenant
Fees and Contractor Fees

Statements

Property Statements include all transactions for a
property from any selected date

Balances

List of all balances held for each property. This report
is useful for reconciling the accounts at the end of
each month.

Tax Lists

Quarterly and annul returns for non-resident landlords.

Rent Statements

Detailed report of rent due and received from individual
tenants.

Selected Cash Book
This option allows you to print day book reports.
The Report can be printed for all or selected Properties. You may enter the
Account Codes which you wish the Report to include, the date range to be
covered by the Report and whether you wish output to be to screen or printer.

Cash Book Reports
The Cash Book Reports list all movements of money through the Clients’ Account.
There are two reports, the List of Receipts and the List of Payments. They are
designed to be used in parallel with the Bank Statements for reconciliation of period
end figures.

ADVANCED ACCOUNTING

The Advanced Accounting section includes various features which provide even
more control and automation.

Tenant Invoices
Invoices / Rent Demands for tenants can be produced each for rent period as it
falls due. The system will include only tenants requiring an invoice as indicated
on the Tenancy Details screen. Invoices may be addressed to the property, to
the tenant’s company or to a different address.

Landlord Payments
This option deals with payments to the Landlord and should be used after the
printing of the Outstanding Landlord Accounts. It includes the following options:

Print List

Print a list of payments to be made. This list can be sent
to your bank when using an "Autopay" system or BACS or equivalent.

Print Cheques

Print landlord cheques.

Print Giros

Print giro slips for landlord payment.

Export List

Allows transfer of data directly to Bank Software.

Contractors
This option allows entry of Contractor Invoices before they are paid. Settlement of
selected invoices for any contractor may then be made by one payment at any
suitable time. It is equivalent to a "purchase ledger".

Lists	A list of all contractors showing their current balance.
Statement	Print statements for contractors showing details of all transactions.

Multiple Client Accounts
This option is used when you are running the properties through more than one client
"current" account. It enables you to set up multiple accounts and then each property
will be assigned to an account. Properties may share accounts or a property may
have an individual account.

Holding Accounts
This option enables you to set up designated bank accounts for the landlords’ tax
retentions and for the tenants’ deposits. Accounts may be shared or individually
assigned.

Clients with Multiple Properties
When a client has more than one property you may set up groups for that client
and assign selected properties to each group. This feature enables you to
consolidate a number of properties onto one regular account.

Trial Balance
The Trial Balance reconciles your liabilities to your assets. It shows the total property
balances, the contractor balances and fee balances and compares them to the
balances in all the client bank accounts. It may be produced to any date.

Bank Reconciliation
On-screen client account reconciliation routines are provided. All cashbook deposits
and withdrawals which have cleared the bank may be marked as reconciled.
The bank reconciliation report lists all uncleared items and calculates the bank
balance from the cash book balance.

Click here to return to the PMX Software Overview.
For information on other PMX Software modules select from the following:
    Lettings
    Management
    Repairs Diary

Click here for information on Hardware

Click here for information on Pricing.

If you want to know more Contact Us.

Top of page