Krc_manual_deposit_accounting_ap (2).pdf

Kilroy Realty | Yardi Voyager 7S

MANUAL DEPOSIT ACCOUNTING

Manual Deposit Accounting This document demonstrates the required steps to manually process a security deposit refund.

Step 1: Process Forms and Send to Revenue Accounting Depending on the reason for the refund, email one of the following to [email protected]

a. Tenant Move-out Form: If the tenant has moved out of the unit in which you are refunding their security deposit. b. Tenant Account Adjustment Form: If the tenant has not moved out of the unit but we are refunding a portion of their security deposit.

Step 2: Revenue Accounting will Process Deposit Transactions

After all required documentation is provided to Revenue Accounting, the necessary steps will be completed in Yardi to correct the A/R side of the security deposit on the tenant or customer ledger.

Step 3: Revenue Accounting will Notify AM to enter Refund Payable Once Deposit Refund Charges and Adjustments have been entered to the appropriate ledger and the refund amount has been verified from the paperwork submitted, the Asset Manager will be notified that the refund payable may be entered into Payscan. Refund Payables may not be entered without prior approval from Revenue Accounting

Step 4: Asset Management Enters Refund Payable Once the charges have been created for the Deposit and the Deposit Refund, an Invoice Register batch will need to be created and approved to generate a check to the tenant and to create the refund. Enter a single payable for the total amount of the refund.

Revised: October 22, 2013

Page 1 of 3

Kilroy Realty | Yardi Voyager 7S

MANUAL DEPOSIT ACCOUNTING

Example of Deposit Refund Payable

DEPOSIT REFUND PAYABLE DATA ENTRY REQUIREMENTS 1 Company

Select the appropriate company.

2 Payee

Enter the Lease ID or the Customer code for the Payee.

3 Invoice #

Enter a unique invoice number such as “Deposit Refund”.

4 Expense Type

Select the Opex expense type.

5 Total Amount

Enter the total amount of the refund.

6 Invoice Date

Enter the date of the invoice – this will display on the ledger.

7 Post Month

Enter the post month for the invoice.

8 Entity

Enter the property code for the tenant or customer being refunded.

9 Amount

Enter the amount of the refund.

1 Account

Enter the account for Security Deposit Refund 24150-10 Security Deposit Refund.

2 Notes

Enter a descriptive note, such as “Deposit Refund”.

3 Click SAVE

Revised: October 22, 2013

Page 2 of 3

Kilroy Realty | Yardi Voyager 7S

MANUAL DEPOSIT ACCOUNTING

Supporting documentation must be attached by way of the Functions>Attachment feature on the Payable Invoice screen.

Example of the Attachment Link

a. Tenant Move-out Form –OR–Tenant Account Adjustment Form (as applicable) and the associated/appropriate supporting documents. The file name for the Attachment should be saved as follows: “TAAF_[Name of Tenant]_[Date]. For example: “TAAF_MarcusAndMillichap_071013”. b. A copy of the email from Revenue Accounting which OK’s the Refund to be entered. Validate and approve the payable as normal – it will proceed through the selected workflow prior to being paid. Once the check is approved and paid, the ledger will display the updated balance of the deposit on file. For a tenant who has moved out it will display a zero balance and the “Deposit Received” field on the lease screen should be blank. If the deposit was partially refunded, the balance should display in the Deposits Received field.

Example of Lease Screen

Example of Ledger After Refund

Revised: October 22, 2013

Page 3 of 3