Acrural Accounting in 2+

TenMastery SeriesWinTen2+ Webinar

Trainer & Connection Information

Lisa Wilhelm-StantonPhone: 877-359-5492 x1258Email: lisa@tenmast.com

Connect to AudioDial 877-746-4263Enter Participant Code 02 11 940#

Upcoming TenMastery WebinarsFebruary & March 2014 TenMastery Series

Webinars are conducted every Tuesday at 11:00 am EST. Recorded versions of each training will be added 24-48 hours after the live training.

February 25th - Using Financial Report Writer Accounting Reports in Scribe (WT2 / 2+)Trainer: Tara Short

March 4th - Modifying an Existing Report in Scribe (WT2 / 2+)Trainer: Lisa Wilhelm-Stanton

March 18th – Balancing Section 8 Transactions to General Ledger in 2+Trainer: TBA

March 25th – How to Handle Initial Incoming Portable Move-Ins in 2+Trainer: Terrence Tichenor

Training Agenda

What is Accrual Accounting?– Brief Description

What does that mean?– In Tenmast Programs

What is next?– Setup of TAR

How will this work?– Section 8 Initialization

Then what?– See how things post to GL

What is accrual accounting?

The accrual method records income items when they are earned and records deductions when expenses are incurred. For a business invoicing for an item sold, or work done, the corresponding amount will appear in the books even though no payment has yet been received – and debts owed by the business show as they are incurred, even though they may not be paid until much later.

What does that mean?

Section 8 Developments and the Liability GL Accounts are now in Tenant Accounts Receivable setup

What is next?Everything needs to be mapped in TAR from the Development to the Transactions

How will this work?Section 8 Initialization

– Prepare and post invoices

CASH ACCOUNTA/P (ACCRUAL)

Account EXPENSE ACCOUNTADMIN FEE ACCOUNT

Debit Credit Debit Credit Debit Credit Debit Credit 18,616.00 18,616.00 111.69 111.69

Then what?

Check Processing– Invoices show as being paid after the check processing has been completed

CASH ACCOUNTA/P (ACCRUAL)

Account EXPENSE ACCOUNTADMIN FEE ACCOUNT

Debit Credit Debit Credit Debit Credit Debit Credit18,616.00 18,616.00

How?General Ledger

– View Accounts• Edit Specific Account # (Balances and/or Details tabs)

Let’s Talk and view programLet’s show what setup will look like and answer your questions.