Comparison of Statistics to Rent Reconciliation
Ideally, the Calculated Rent from the Rent Reconciliation report and the Rent Rev from the Daily Statistics should match, if both reports are run for the same financial period.
However, they may not match because monthly rates are always prorated to get a daily figure for the Daily Stats (even for the Monthly Summary) and may or may not be prorated for the Rent Reconciliation.
In the Rent Reconciliation, if a reservation has bill from and bill thru dates that cover the entire month, the base monthly rate is used and no pro ration is done. If the bill from and bill thru dates do not cover the entire month, the prorating formula (Settings / Units/Residents / Billing Defaults) is used to calculate a daily rate, which is then multiplied by number of days in the month that should be billed.
If the prorating formula is set to Rate/30, the Daily Stats will overstate rent revenue for months with more than 30 days and understate it for months with less than 30 days.
For example, if the monthly rate is 3,000, this prorates to 100 per day. In a 30 day month, the prorated total for the full month, 30 x 100, equals 3,000. In a 31 day month, the prorated total for the full month, 31 x 100, equals 3,100. And in a 28 day month, the prorated total for the full month equals 2,800.
Thus, the Calculated Rent from the Rent Reconciliation will match the Rent Rev from the Daily Statistics if the following conditions are met: