Property Management - Plan your Accounts start date and data

Jupix_to_Alto_snippet.png

If you’re using the Property Management and Accounts functionality within Alto, you should take some time to ensure your records are correct in Jupix before they transfer over.

In Jupix, your portfolios and payment groups are automatically transferred, however your accounts team will still need to enter some financial data to get things up and running. It’s crucial that your accounts team blocks out enough time after your Alto start date so this work can happen.

Items to be added manually include:

  • Rent charges, including
    • Rent amount
    • Rent frequency
    • Next rent due date
    • Rent payment method
    • Rent payment reference
  • Property commission charges, including
    • Management fee
    • Management fee type (percent)
  • Additional charges
    • Outstanding supplier invoices
    • Outstanding agency fees
    • Tenants arrears
    • Supplier commissions
    • Set notice addresses
  • Client bank account balances, including
    • Tenancy deposits held
    • Monies held on account
    • Payment group floats/retentions
    • NRL Tax
    • Arrears balances

In preparation for adding your Opening Balances to Landlord, Property, Tenancy and Supplier records, we recommend that you:

  • Clear down your client account to its lowest possible balance to reduce the number of entries that you need to manually add into Alto

You’ll also need to prepare some information from Jupix for when you are ready to start using the Alto Accounts functionality, such as:

  • The breakdown of monies held in your client account and to whom it belongs (including expenses)
    For more information on this within Alto, click here
  • Running previous year reports on Schedule 23, as well as a current Schedule 23 report up to your Accounts Go-live date
    For more information on this within Alto, click here
  • Running current NRL reports
    For more information on this within Alto, click here
    For more information on this within Jupix, click here
  • Running previous and current Landlord income reports
    For more information on this within Jupix, click here
  • Running previous and current Agency income reports
  • Running a current Rent pipeline report and Rent arrears report, and
  • Running a full detailed Trial Balance report
    For more information on this within Jupix, click here

Was this article helpful?
0 out of 0 found this helpful