Administrative Tasks

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possible new topic  -  focus for "non-menu" jobs / reports etc

May include links to menu items


Administrative Tasks
This topic, however, provides a focus for a number of tasks best described as administrative tasks.  They are not found on a single menu but are found on various menus throughout the system in the menu group they best belong.  They are listed below followed by a brief description of each job.  Scroll to the description paragraph and click the heading to access the full topic:-
  • Bond processing
  • Bank Reconciliation
  • Generate Payments
  • Fees and GST payment
  • End of period
  • Statement printing
  • Emailing Landlord and Supplier Statements
  • Standard letters
  • Mail, Mail Merge, Email, Letters and Fax
  • Audit Return

    In addition to the above items keep on top of your Periodic Processing and Housekeeping tasks.


    Administration Tasks

    Bond Processing
  • When a tenant pays any bond it is placed into a bond control account.
  • Periodically these bonds should be sent to the bond authority with the appropriate documentation.
  • Bonds are disbursed from the Bonds menu.
  • Bond refunds made from the bond authority should be entered using a special receipt in the Tenant Transactions > Bond Returned.  The receipt can be used to pay unpaid rent, debt, or letting fee with any residual amount entered as Held which can then be used to pay more debts or returned to the tenant using Tenant Transactions > Add > Payment.

    Bank Reconciliation
  • To ensure the system is accurately recording the financial transactions taking place in the real bank account a procedure termed "reconciliation", or "reconciling", or "bank reconciliation" is performed.  The terms are synonymous.
  • Reconciliation is done by comparing the balances in both accounts at the same point in time and making adjustments for those transactions that are "between systems".

    Generate Payments
  • The way the system is intended to be used is that receipts and invoices are entered into the system and you are told how much and who to pay rather than having to look at each account and make a manual payment.
  • All the Generate Payments process does is that last bit much quicker than you can.  It looks at each account and, depending upon some rules, creates a payment record which is no different to one created manually.
  • The process and rules are discussed here.

    Fees and GST Payment
  • As receipts and charges are entered into the Aspect Property Manager some of their value is accumulated in the Letting Fee, Management Fee and GST control accounts.
  • At the end of the period the accumulated funds are normally transferred from the trust account to the trading account.
  • For those not operating a trust account it is a smart move to have a separate account for the property management transactions and at the end of the month transfer the accumulated Fees and GST to your main account.
  • The Fees and GST payment performs this function and may be done as one step in the Generate Payments process or separately as best suits you.
  • See Fees and GST Payments.

    End of Period
  • The End of Period processing "draws a line" across the accounts at a known point which is typically the end of a calendar month.
  • Prior to running End of Period, sometimes called "roll-over", the system should have been reconciled, landlords, suppliers, your Fees and GST paid out, a number of reports printed and a back up taken.
  • End of Period performs a number of checks and sets the system up ready for the new period/month.
  • It is discussed here.

    Statements
  • The Landlord statement keeps the owner informed about property performance and is usually printed and/or emailed at the end of each period but may be printed at any time.
  • Statements may be printed for a single or a range of past periods on demand.
  • A special Summary Statement summarises income and expenditure on each property for the tax year 1 April to 31 March or year to date.
  • The Supplier statement performs the same duty for suppliers but can only be printed.
  • Set up the statements to print on plain paper or letterhead, or have an image or watermark.

    Emailing Statements
  • The Aspect Property Manager can email the landlords and suppliers their statements subject to meeting the email requirements.
  • The email statement has the same format as the printed version.

    Standard Documents
  • Letters to landlords, tenants and suppliers may be printed using standard documents which can merge selected data from the database, or may be completely free format.
  • The document formatting allows you to print on plain paper or letterhead, or include a background image or watermark.

    Mail, Mail Merge, Email, Letters, Fax{linkID=8000}
  • Correspondence with landlords, tenants and suppliers can be by email, printed letter Fax or SMS messaging.
  • A letter may use standard or form letters which can merge selected data from the database, or may be completely free format.  See the main Mail topic.
  • The Fax produced by the system may be "printed" to the Microsoft Fax Printer, where the operating system provides it, or to third party fax software.  If your Windows version does not provide the "Fax Printer" you will need to purchase third party fax software or print the fax then send it as you would any other document using a standard fax machine.
  • Letters sent from the Mail button go to the landlord, tenant or supplier selected, but the Mail Merge allows you do bulk mailing of a standard or "one-off" letter to all, or just selected recipients.  It is ideal for sending breach letters, rent change notifications, inspection letters and so on.

    Audit Report
  • This report was previously called the REINZ Return
  • New Zealand real estate agents are required to furnish a trust account return each month. This return provides the details required.
  • It is also a useful report for other users if run at the end of the month as it summarises the financial status and lists unpresented items.