Check for Outstanding A/R
On the 1st of each month, run the Pre-billing Report for the prior period to ensure that all accounts receivables have been invoiced.
1. Invoice any outstanding charges.
2. Run the A/R Rent Reconciliation. Review any non-zero balances. Make adjustments as necessary.
3. Run the Rent Reconciliation and verify for differences in revenue.
4. Print the Operations Recap Report for the prior period – last validation for logical Reporting. Is the vacant Unit ‘really’ vacant, or did the Reservation not get entered into Oscar, etc. Check to ensure that all Bill To dates and Reservation statues make sense. If a Resident Bill To date is say 11/15/09 and today is 12/1/09 does the Reservation status reflect Moved-Out and Notice? If not, perhaps the lease was not extended, etc.
5. Run Company P&L by Unit Report; validate missing revenue
6. Print the Cancellations Report. Credit Invoices where necessary, etc.
7. Confer with the Operations manager and management staff; make adjustments.