For those in the Asia-Pacific and Europe regions, you'll recognize the terms "Arrears" and "Tenancies." Meanwhile, our North American customers will be more familiar with "Delinquency" and "Leases." To understand the regional terminology distinctions in detail, please visit our Glossary of Regional Terminology.
This article aims to provide a clear and informative walkthrough of the Lease Aged Delinquency/Tenancy Aged Arrears Report. An invaluable asset for property managers, this report aids in monitoring overdue balances and payments by tenancy, helping to maintain a firm handle on your arrears or delinquency situations. We will cover the steps to generate this report, clarify its filters, and teach you to interpret the data it showcases for smart and savvy financial oversight.
Generating the Aged Arrears/Delinquency Report
Accessing and setting up the Tenancy Aged Arrears Report is a simple process:
- Go to the main Reporting menu.
- Select the General option.
- Select the Lease Aged Delinquency / Tenancy Aged Arrears Report located under the Tenancy / Lease section.
Report Filters Explained
To extract the most relevant data, make use of the report's adjustable filters:
- Report For: Tailor the report to a specific Company or a collective overview of all companies.
- Arrears Up To & Including: Focus on Tenancies with arrears up to a certain date, with reflected payments or credit allocations.
- Vacated Status: Include Tenancies that have vacated, if required.
- Filter By: Hone in on specific Property Managers, Properties, or Owners.
- Breakdown Type: Opt for an aged period displayed in either days or weeks.
- Type of Property: Select particular property types or include all for a more general report.
Additional filters have been incorporated for even more comprehensive metrics:
- Invoice Type
- Days Overdue
Details to Include
Choose what additional details to feature in your report:
- Tenancy Ledger Balance
- Unallocated Credit Notes
- Arrears Status
- Latest Note
- Area Size
Understanding Your Report
Unpack the important sections of the report to get the full picture:
Summary Information
- Report Date: Date of report generation.
- For Property Managers: Whose data is summarized, as per your filter choice.
- Arrears/Delinquency Summary: A comprehensive look at the standing of the selected Company.
Detailed Information
Every entry will include a wealth of details:
- The Name of the Property and its Areas
- Detailed Lease/Tenancy information, including the Chart of Accounts
- Current Status of Arrears/Delinquency
- The most recent Note for the Lease/Tenancy
- Outstanding balances and Ledger Balance summaries
- A precision breakdown of the Total Arrears Position by aged period
Generating Reports
With your filters set, you have a couple of options:
- Generate the report for immediate viewing by selecting Generate Report on Screen.
- To obtain a copy file, Download as CSV or PDF (Portrait / Landscape), respectively.
It’s essential to re-generate the report if you make any changes to the filter settings to ensure you're viewing the most current information.
Subtotals and totals reflect the criteria set by your filters, giving you quick insights into financial standings. The Lease Aged Delinquency/Tenancy Aged Arrears Report is a powerful tool for mitigating financial risks and maintaining a smooth operation in property management. Be proactive in its use to secure your investments