Boise pages

11/21/2025

After the recent drone attack on Ukraine, Putin has cream of chicken on his hands.

05/13/2024

APPFOLIO PROPERTY MANAGEMENT SOFTWARE : PREPAYMENT BALANCE MISMATCH

Prepayment Balance Mismatch is a section on the Financial Diagnostic page of the Appfolio Property Management software solution. Also known as the Financial Diagnostic Report.

Items of Prepayment Amount on the General Ledger of the Diagnostic page are commonly caused by transactions that use the prepaid rent GL account for something other than a tenant receipt. These would be something like a charge transaction or using this as an offset account on a Journal Entry. We never want to create a charge with the prepaid rent GL and we never want to credit with the prepaid rent GL. Nevertheless, sometimes “things happen” and fortunately it is not too difficult of a fix.

As with most anything diagnostic within AppFolio the trick is to know how to manage the reports. Here are the steps that I take to clean up a Prepayment Balance Mismatch:

Pick a property line item to work on. Subtract the Prepayment Amount on General Ledger from the Prepayment Amount on the Delinquency Report. This may tell you the exact amount you are looking for or it may be a combination of amounts;
Click on the Prepayment Amount on General Ledger link;

This opens up a General Ledger and it is my preference to customize the report. I click on Grouping and Group rows by category, by the unit. Now you can scroll through the report looking for the amount that was calculated in step 1. Or to look for hints in the description. You’re looking for something like Prepaid Rent Income;
Once you find the culprit which involves a charge using the Prepaid Rent GL account, you’ll want to reapply the receipt. On the Reapply Receipt screen, you click on the box for to Make Prepayment and click on reapply;
Find that charge again (you can find it on the tenant ledger) and edit the charge to Rent Income.

Now you can refresh the Diagnostic page and the issue will be gone unless there were multiple issues on that property. In that case, you would go back to the General Ledger report and scroll through it looking for the next issue of prepaid rent being applied as a charge to a tenant ledger transaction.

ManagingYourProperties.net is a division of Ala Carte Bookkeeping with a focus on Property Management Trust Accounting. More and more property managers are taking responsibility for their Property Management Trust Accounting as is encouraged by the National Association of Residential Property Managers in their Accounting Standards educational material.

Call now to connect with business.

03/01/2024

My bookkeeper humor for today.
Journal entries are like politicians, they’re a necessary evil.

12/20/2023

Make sure you’re aware of the changes for filing 1099s this coming season.

If you’re using AppFolio be sure that your report does not default to 2022. Just be sure that you are looking at 2023 reporting.

09/26/2023

New IRS W2/1099 efile regulations for tax year 2023
Businesses with 10 or more combined W2 and 1099 filings must file electronically for tax year 2023.

07/20/2023

https://youtu.be/b1_RKu-ESCY

The official audio video for "Try That In A Small Town". Listen here ►https://jasonaldean.lnk.to/TryThatInASmallTownIDGet tickets to Jason Aldean's "Highway ...

05/27/2022

In the next year, as I transition to Full-Time RV living, I look forward to visiting with clients to get to know me and to help with consultations that are more in-depth.

If you would like to explore how I can help with a messy clean-up project or to offer you Ala Carte Service please schedule your free consultation today at https://calendly.com/tconway/ala-carte-bookkeeping-15-minute-consultation

05/21/2022

A man was asked to paint a boat. He brought his paint and brushes and began to paint the boat a bright red, as the owner had asked him.

While painting, he noticed a small hole in the hull, and quietly repaired it.

When he finished painting, he received his money and left.

The next day, the owner of the boat came to the painter and presented him with a nice check, much higher than the payment for painting.

The painter was surprised and said “You've already paid me for painting the boat Sir!”

“But this is not for the paint job. It's for repairing the hole in the boat.”

“Ah! But it was such a small service... certainly it's not worth paying me such a high amount for something so insignificant.”

“My dear friend, you do not understand. Let me tell you what happened:

When I asked you to paint the boat, I forgot to mention the hole.

When the boat dried, my kids took the boat and went on a fishing trip.

They did not know that there was a hole. I was not at home at that time.

When I returned and noticed they had taken the boat, I was desperate because I remembered that the boat had a hole.

Imagine my relief and joy when I saw them returning from fishing.

Then, I examined the boat and found that you had repaired the hole!

You see, now, what you did? You saved the life of my children! I do not have enough money to pay your 'small' good deed.”

So no matter who, when or how, continue to help, sustain, wipe tears, listen attentively, and carefully repair all the 'leaks' you find. You never know when one is in need of us, or when that care and kindness may return to you in surprising ways.

Along the way, you may have repaired numerous 'boat holes' for several people without realising how many lives you've saved. ❤️

Make a difference....be the best you...

Have a beautiful day 🌻

03/05/2022

This is a great flow chart that I found in my vault of content.

01/01/2022

10/14/2021

Since a property manager is a fiduciary they must act with the highest good-faith and fair dealing with respect to the owner’s asset. Careful who you hire.