Adjustments
The adjustments functions allow you to make alterations to financials when circumstances change or when errors need to be corrected. The functions are:
- create credits on an owners ledger
- transfer an owner’s credit from one levy to another
- transfer credits between lots and debtors
- create journal transfers
- cancel cheques
- create bank account adjustments
- edit and cancel levies
- edit supplier transactions
Adjustments are always performed for one building at a time and adjustment permissions are restricted to the roles of administrator and accounts by default, but this may be altered by an administrator
Lot Transfers
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Lot owner to credit (2 mins)
- How to use the to credit function to create a credit balance for an owner by “unpaying” levies that were previously paid
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Lot owner From Credit (2 mins)
- How to use the from credit function to allocate all or part of a lot owner’s credit balance to a lot owner’s levy(s)
Debtor Transfers
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Debtor to credit (2 mins)
- How to use the to credit function to create a credit balance for a debtor by “unpaying” invoices that were previously paid
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Debtor from credit (2 mins)
- How to use the from credit function to allocate all or part of a debtor’s credit balance to a debtor’s invoice(s)
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Credit transfers (2 mins)
- Credit transfers allow you to transfer a credit balance to another lot or debtor in the same building
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Lot refunds (2 mins)
- How to refund lot owners via Direct Deposit or cheque
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Bank adjustments (3 mins)
- How to record debits or credits to bank accounts that have taken place outside PropertyIQ to bring your cash book balance into line with the actual bank balance.
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Journals (4.5 mins)
- Viewing and editing existing journals
- Print a journal report
- How to process a journal to move funds from one chart of accounts code to another
- How to process a reverse accrual journal
- Click here for a quick reference guide showing the effects a debit or credit has on the different types of chart of account codes
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Building transfers (3 mins)
- How to transfer amounts between investment accounts and main accounts
- How to transfer amounts between funds in main and investment accounts
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Cancel cheques (1 min)
- How to cancel unpresented cheques
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Levy maintenance (4 mins)
- How to edit, delete or cancel levies
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Supplier transactions (2.5 mins)
- How to edit the chart of accounts code allocation to an invoice line item
- How to apply and remove GST to an invoice line item
- How to align the GST status of an invoice line item with the GST status of the building, supplier and chart of accounts code
Detailed How to Guide
Click here to access the detailed Adjustments guide
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