Acrural Accounting in 2+ TenMastery Series WinTen2+ Webinar

Trainer & Connection Information Lisa Wilhelm-Stanton Phone: x Connect to Audio Dial Enter Participant Code #

Upcoming TenMastery Webinars February & March 2014 TenMastery Series Webinars are conducted every Tuesday at 11:00 am EST. Recorded versions of each training will be added hours after the live training. February 25 th - Using Financial Report Writer Accounting Reports in Scribe (WT2 / 2+) Trainer: Tara Short March 4 th - Modifying an Existing Report in Scribe (WT2 / 2+) Trainer: Lisa Wilhelm-Stanton March 18 th – Balancing Section 8 Transactions to General Ledger in 2+ Trainer: TBA March 25 th – 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 ACCOUNT A/P (ACCRUAL) AccountEXPENSE ACCOUNT ADMIN FEE ACCOUNT DebitCreditDebitCreditDebitCreditDebitCredit 18,

Then what? Check Processing – Invoices show as being paid after the check processing has been completed CASH ACCOUNT A/P (ACCRUAL) AccountEXPENSE ACCOUNT ADMIN FEE ACCOUNT DebitCreditDebitCreditDebitCreditDebitCredit 18,616.00

How? General Ledger – View Accounts Edit Specific Account # (Balances and/or Details tabs)

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