REVENUE ACCOUNTING

TRAINING – 2 0F 2

November 13, 2023

AGENDA
• Retail Functions
• Percentage Rent Process
• Utility billing
• Termination Process
• Deferred Accounting
• Straight-lining Rents
• Cost Inducement
• Journal Entry Process
• Closing Procedures

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PERCENTAGE RENT PROCESS
The Turnover Rent Process involves 3 broad Steps:
• Enter Sales data – Mall Ops through ETL (Monthly), Audited Sales(through front end)
• Lock Sales data – Finance
• Process Turnover Rent - Finance

• For STR leases the percentage rent is

calculated monthly and charged to the
tenant,
• For Permanent leases the percentage rent
is calculated on lease anniversary on
audited figures if available, if not on the
actual figures and later on differential
invoice is sent based on the audited
figures.

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 PERCENTAGE RENT PROCESS
After entering and reviewing sales for the whole month/year, Turnover Rent is calculated at the end of the
Month/Year.

To Process Turnover Rent:

1 • Go To Retail Functions > Calculate Overage
2 1. Complete following fields:
3 • Enter Property
• Select Lease Id
• To Month and From Month
• Select Function Type – Overage
Calculation
2. Click Display
3. Click Calculate

4. Complete the Post Month and Post

Date fields
5. Click Create Batch. Voyager creates
the charge batch. The Control # column
5
4 in the table contains a link to each
charge.
Review Charge and post the batch after
generating Report

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PERCENTAGE RENT PROCESS
Review and Post the Percentage Rent Charge batch -

5
UTILITY BILLING
• Utility Functionality in Yardi provides the ability to record the consumption for the utilities like Electricity, Gas, Water etc.
• Can enter Periodic details of Consumption through ETL Import
• Ability to specify different Pricing Rate (as supplied by Vendor) for different Periods
• Allows creation of Tenant Charge from Utility Billing Function
STEPS:
- Update Utility Rate
- Enter Utility Meter Reading
- Create Utility Billing Charge

In pricing setup screen we can define the rate (By Date) per unit of
consumption for each utility attached to a property.
To update Utility Rate :
• Go To  Lease Administration  Utility Billing  Utility Pricing Setup
• Enter the property and utility type and click on submit. System will open
pricing setup screen.
• Review the existing rate by clicking on Edit button
• If there is a change in pricing, Click on New record button to enter details of
new rate

• Enter the As on date

• Enter Volume to as 99,999,999,999.0000
• Enter a new rate
• Click on Save
• Click on Close button

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UTILITY BILLING – EXCLUDE UNITS ALREADY BILLED AS PER FIXED CONTRACT RATES
The user will generate a customised report that identifies those tenants where charges are as per fixed contracted
rate (Billed through Period posting - Charge code is “per-”.
The report will display against each tenant(unit) whether the Utility charge is Fixed/ Metered.
To exclude Units to which the charges will not
be raised :
• Go To  Lease Administration  Utility
1 Billing  Utility Unit Setup
• Select the property and utility type in the
filter screen and click submit. Unit setup
screen will open.
• Allows multiple meters for a Unit
• Click on Save

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UTILITY BILLING – METER READINGS: CREATE ETL FILE
Importing Utility Meter readings is a 2 step Process-
1. Create Utility Meter Reading ETL file
2. Import the readings in Yardi system

UBSubMeterReadings
Property_Code Utility_Type Meter_Number Unit_Code Reading_Date Current_Reading Exception Ref_Property_ID Ref_Unit_Id
adcc elct 340210011505 A01 06/30/2018 225,632.88 0
adcc elct 340210011518 B01 06/30/2018 22,195.97 0
adcc elct 340210011511 B01B 06/30/2018 15,618.63 0
adcc elct 340210011516 B02 06/30/2018 91,179.43 0
adcc elct 340210011509 B03 06/30/2018 84,024.00 0
adcc elct 340210011516 B06 06/30/2018 91,179.43 0
adcc elct 340210009484 B007 06/30/2018 6,044.66 0
adcc elct 340210009569 B09 06/30/2018 14,096.77 0
adcc elct 340210009577 B10 06/30/2018 4,333.78 0
adcc elct 340210009245 B11 06/30/2018 24,466.19 0
adcc elct 340210011515 B17 06/30/2018 120,089.56 0
adcc elct 340210009557 B19 06/30/2018 6,937.45 0
adcc elct 340210009574 B20 06/30/2018 11,894.59 0
adcc elct 340210009576 B21 06/30/2018 22,130.31 0
adcc elct 340210009479 B23 06/30/2018 21,087.86 0
adcc elct 340210009573 B24 06/30/2018 1,072.43 0
adcc elct 340210011508 B25 06/30/2018 23,470.91 0
adcc elct 340210011517 B26 06/30/2018 24,530.84 0

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UTILITY BILLING – METER READINGS: IMPORT ETL FILE
Importing ETL file in Yardi is a 2 step
process-
1. Place file from your machine into FTP
location
2. Load the file

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 UTILITY BILLING – CREATE UTILITY CHARGE
1
Once the readings are imported through ETL, the readings
4 would appear on the on the Utility Meter reading page.
To review the same Go to Dashboard and click on Utility Meter
Reading link under Utility billing section under Receivables.
The Meter Reading page will be displayed.
1. Enter the filter details (Property, Utility type and Reading
period) and Submit
2. Verify the period
3. The imported readings would appear in the Current reading
column.
4. Once Satisfied with the calculation, click on the ‘Create
Charge Batch’ Button.
5. Enter Due date, Post Month, Tax Point Date (same as due
date) and click on create. Charge code will be picked up
automatically according to the setup
2 6. Click on Create button

3 5

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UTILITY BILLING - CREATE UTILITY CHARGE
• System will create a Charge batch with
respective control No’s.
• Click on a control number
• Charge Screen will open. Click on the Batch No.
• Follow the Charge Report and Post process
to post the Charge batch

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UTILITY BILLING - UTILITY CHARGE INVOICE
From Dashboard, Select Utility Print option to print Invoice.
Enter Filter to print invoice.

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TERMINATION PROCESS
A termination amendment terminates the lease or changes the end date of the lease. When you activate
the termination amendment, the status of the lease changes to Past.
The Termination Process involves following sub- processes:
• Posting of One time Charges created by LA for Penalties/ Damages/ Other Charges - Please
follow the Adhoc Charge creation Process

• Calculation and Billing - Revised Lease Terms

- Please follow the Revised Billing Process

• Process Credit for Early Termination

- Please refer the Charge Credit Adjustment process / Revised billing process

• Move out Accounting Process

• Financial Adjustment- Due to Lease Amendment

MOVE OUT ACCOUNTING PROCESS
Move-out accounting reconciles outstanding charges and credits for a tenant. If a
refund is due, move out accounting automatically creates a refund transaction
payable to the tenant.
To Process Move out Accounting:
Go to Lease Administration > Deposit > Move-out Accounting.
Complete the filters- Enter Property and tenant code.
On the Move out accounting page-
• All the Open Charges, Prepays and Deposit collected will be displayed
• If you want to exclude a charge or credit, select the corresponding Exclude
check box. 13
TERMINATION PROCESS
Example where the Amount Outstanding from
tenant is greater than the Available Credit:
- The system will adjust the available credit against
the outstanding charges. Thus, the balance amount
has to be paid by the tenant

Example where the Amount Outstanding is less that

the Available Credit.
- The system will adjust the available credit against
the outstanding charges. Thus, the balance
amount has to be paid to the tenant.
- Auto Creation of Refund Payable and amount is
transferred from Security Deposit Account to
Refund Account
- Follow the process for Payable Processing

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TERMINATION PROCESS –EARLY TERMINATION
FINANCIAL ADJUSTMENT – DUE TO LEASE AMENDMENT
1. PDC: Delete old PDCs and add new PDCs. Where the PDCs are no longer to be presented,
the user will amend the PDC record accordingly to reflect the revised status.

2. Revised Billing

3. % rent calculation

4. Straight line adjustments would take place automatically in the next straight line
calculation

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TERMINATION PROCESS –EARLY TERMINATION

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TERMINATION PROCESS –EARLY TERMINATION

17
TERMINATION PROCESS –EARLY TERMINATION

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DEFERRED ACCOUNTING PROCESS

ACCOUNTING ENTRIES – Lease start on 1 st

day of the month
In the month of Invoicing (11/2012 in this
example) two entries would be passed on posting
Charges -
• ACCTS RECEIVABLE A/C- Dr
UNEARNED INCOME A/C-Cr (Liability)

• UNEARNED INCOME A/C-Dr

RENT A/C- Cr (Income)
- For every subsequent month above entry is
generated on first of the month to book Rent
Income
- Thus, 12 entries are generated pertaining to
Deferred Rent
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DEFERRED ACCOUNTING PROCESS
ACCOUNTING ENTRIES – Lease starts in
middle of the month
The deferred Rent will be pro-rated for the lease
start and end month and accordingly entries will
be generated.

In the month of Invoicing (11/2012 in this

example) two entries would be passed on posting
Charges - (Proportionate Amount for 21 days)
• ACCTS RECEIVABLE A/C- Dr
UNEARNED INCOME A/C-Cr (Liability)

• UNEARNED INCOME A/C-Dr

RENT A/C- Cr (Income)

- Also in the last month i.e. 11/2013 remaining

proportionate income of 9 days is booked and
deferred liability is reduced

- In all the remaining months full month rent is

booked and deferred liability is reduced

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DEFERRED ACCOUNTING PROCESS
Deferred Rent Calculation

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STRAIGHT LINING RENTS – SETUP
The Voyager straight-lining feature has three main parts:
• At the chart level, you set up accounts for straight-lining.
• At the lease level, you use Voyager to calculate the straight-line adjustments for leases (you can calculate for an
individual lease, for all the leases at a property, or for all the leases in the system).
• On a periodic basis (monthly or quarterly), you run a Voyager function that posts straight-line journal entries.

• 1 line per Charge code

• For each charge code, mention an income
statement account and mention a balance sheet
account

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STRAIGHT LINING RENTS - MASS CALCULATION
Perform mass calculations of straight-line rent adjustments instead of calculating one lease at a time. To calculate on a per-
lease basis, use the Straight-line Review function.
• Go to Lease Administration > Straight-line >
Straight-line Calculation
• Complete the Property ID and Tenant ID fields
as needed (to select leases for straight-lining).

• Click on Show button to display all the lease

amendments that match the criteria entered
• Click Calculate - The screen displays a progress
bar (during the calculation) and then a
confirmation message.

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STRAIGHT LINING RENTS – LEASE LEVEL
Perform mass calculations of straight-line rent adjustments instead of calculating one lease at a time. To calculate on a per-
lease basis, use the Straight-line Review function.
• Go to Lease Administration > Straight-line
> Straight-line Review
• If the straight-line adjustments have been
calculated for the selected lease
amendment, the screen will display them.
If they have not yet been calculated, click
the Calculate button.
• The Proposed Period fields display the
start and end dates of the lease
amendment
• The bottom of the screen displays totals
• If the total of the adjustments is not zero
(due to rounding errors), Voyager adjusts
the last entry in the column to force the
total to zero. You cannot save if the total
is not zero

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STRAIGHT LINING RENTS – POSTING
Perform mass calculations of straight-line rent adjustments instead of calculating one lease at a time. To calculate on a per-
lease basis, use the Straight-line Review function.

• Go to Lease Administration > Straight-line > Straight-line JE

• To view the adjustments for individual leases, click the Detail button. The JE Detail screen appears.
• Click on Edit button to change the figures in the Adjustment Amount column. This opens the Straight-line Review screen, where
you can change the amounts.
• Click on Supress 0 amount JEs
• You may also exclude a JE for an individual Lease
• In the Straight-line Journal Entry screen, select a date in the JE Post Date field and click the Create JE Batch button
• The New JE tab is empty, but the JEs Created tab shows the new JE batches
• To post the batch, click the link in the Control Number column. The Batch screen opens, where you can edit and post the batch.
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STRAIGHT LINING RENTS – POSTING
Now go to the “JES created” tab and click on the CTRL number to post the JE batch

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STRAIGHT LINING RENTS – POSTING
Now go to the Unposted batch link to post the JE batch

Straight-lining and the General Ledger

To view the effect of IAS 17 calculation on Trial balance select Accrual + IFRS book) 27
COST INDUCEMENTS – SETUP
Using Cost Inducement function, you can record costs lease-related costs (such as Promotional Allowance, FitOut
Contribution), attach these to a deal or lease and depreciate or amortize them over the term of the lease.
The steps for setting up Cost Inducements are:
• Setup Lease Asset Types
• Add costs/inducements information to a lease
• Posting the Depreciation/Amortization
• Adjusting the Depreciation of Lease Assets

• Define Book – Accrual

• Define Credit Account (balance sheet account
credited for amortization or depreciation)
• Define Debit account (The expense account
debited for amortization or depreciation)

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COST INDUCEMENTS – ADD INFORMATION TO LEASE
• Go To Lease screen > Costs/Inducements link >
Costs Inducements Summary screen
• Click on New Record button
• Select a Lease Asset Type
• Enter the Amount (the amount can be a flat
amount, or an amount per unit of area)
• Enter a Description of the asset.
• Select the Depreciable check box (if applicable)
• The account information defaults from the lease
asset type setup

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COST INDUCEMENTS – CHANGE STATUS OF ASSETS TO APPROVED
• Go To Lease Administration >
Costs/Inducements > Change Depr/Amort
Status
• Enter filter details to locate the assets you
want to approve.
• To approve assets, select the check box in
the Set Approve Status column and click
Save.

SET APPROVE STATUS:

• Not approved - Check box is clear.
• Approved - Check box is selected.
• Approved and the depreciation has begun -
Check box is selected and greyed out.

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COST INDUCEMENTS – POSTING DEPRECIATION/AMORTIZATION
• Go To Lease Administration > Costs/Inducements >
Post Depr/Amort JE
• Complete the fields as needed to locate the
appropriate assets.
• Type the appropriate date in the Through Month
field
• Click Calculate. Voyager calculates the
depreciation (or amortization) for every asset that
matches the criteria you entered.
• Click Preview. Voyager consolidates the
depreciation (or amortization) for all assets having
the same property, G/L book, and G/L accounts.
• Click Post. Voyager posts the depreciation (or
amortization) to the specified G/L book and
assigns a transaction number to the posting.

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COST INDUCEMENTS – ADJUSTING THE DEPRECIATION OF LEASE ASSETS

Go To Lease Administration > Costs/Inducements > Adjust Depr/Amort

• Complete the fields to locate the appropriate assets, and click Submit. The assets appear in the bottom part of the screen
• Make any necessary adjustments:
• Revert the last posted month to the first month in which JE was posted
• Type a new figure in the New Depreciated Value column, if needed.
• Type a new figure in the Recovery Years Left column, if needed.
• Click Adjust
• Click on Preview and verify the reversal JE. Now change the post month to current post month and post the JE.
• Click Save. Voyager should show Asset Depreciation Adjustment Page and it should allow reversing of earlier posted amortization in current
post month
• Post using the Post Depreciation JE function.
• Complete the filter fields as needed to locate the appropriate assets. Type the original lease end month in the Through Month field. Click
Calculate. Preview the JE. Keep the post month as the Post Month as the new Lease End Month

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JOURNAL ENTRY – SYSTEM GENERATED
System generated JEs –
• Deferred accounting JE
• Straight lining JE
• Inter company reimbursement
• Posting the Depreciation/Amortization – Cost Inducements
• Adjusting the Depreciation of Lease Assets
On system generated journal entries, the
reference field represents the purpose of
and/or the module that created the journal
entry. System generated references are
preceded by a colon (:)
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JOURNAL ENTRY PROCESS
- On the Dashboard, under Other Functions/ Reports section, Click Create Journal batch
- Can also be accessed from menu link: Go to – General Ledger  Journal Entries 
Create Journal Batch
• On the Batch Journal header screen, you can record batch notes and declare the
Journals you will be adding to the batch.
• Click on Save
• Click on new record button to add a journal

Complete following details-

HEADER SECTION:
• Journal Date – change if required
• Enter Post Month
• Book – defaulted as both (Cash and accrual)- Change if
required
• Enter Notes
• Reference – auto populated for system generated JEs
• Balance Account- Enter when creating a Journal between
two properties.
• Reverse next month - Simultaneously creates a second
journal entry reversing this journal entry in the following
DETAILED SECTION: month (this may be required for provisions)
• Entity - Entity is the Property to which Journal Entry is to be posted • Reversal Book - This is used in conjunction with the
• Account - Enter all or part of an account description and hit tab. The Reverse Next Month option, if reversal is to be made in
system will display a list of accounts matching the select criteria other book of accounts
• Debit or Credit Amounts- Enter respective Debit and Credit amounts
• Notes
• Click on Save. System will save the journal and show us a blank screen. 34
Now click on Un-posted Batch link, it will take you to the main Batch screen
JOURNAL ENTRY PROCESS
- To Review/ Edit the JE , Click on Edit
button on detail line
- Before posting, review the Unposted JE
Report by clicking on Report button

- Now click on Post button

- When asked to confirm that you want to
post, click OK. Batch is Posted
- You will see following message once Journal is
posted successfully-
Batch has been successfully posted”“

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EDIT JOURNAL ENTRY BATCH
You can edit Journal Entries in a batch until you
post the batch.
• Go to – General Ledger  Journal Entries 
Edit Journal Batch
• On the Batch Journal Entry screen filters can
be filled to restrict the search and pull up
required Journal Entry Batches.
• Select ‘Open Only’ option to review and Edit
an open batch

• Use Edit button to review individual Journal

Entry Batch.
• You can also delete the batch record using
Delete button.
• If you make any changes to batch notes
then use save button to save these
changes.

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REVERSE JOURNAL ENTRY PROCESS
To reverse a Journal Entry
Go to  Journal Entries  Reverse Journals
Complete the filter:
• Enter Batch #
• Ctrl #
• Property ID
• Post Month
• Journal Date
• Book
• Click Submit to find existing Journal with
above criterion.

• Check the Reverse box on the Journals to be

reversed.
• Enter Journal date and Post Month details for
the Reversal Journal
• Click on ‘Create Batch’

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CLOSING PROCEDURES
• Close Property Month
– If you use separate data-entry months for each property, each property’s data-entry month advances only when
you use Close Property
• Close Operating Month
– You must close the system operating month. Closing the month advances the system operating month, carries
forward year-to-date account totals, and saves month-end account totals. It also calculates and saves the month-
to-date totals for the upcoming month. You typically close a month at the end of the month, after you have
entered all transactions for that month.

CLOSE PROPERTY CLOSE OPERATING MONTH

Go to – General Ledger  End Period  Close Go to – General Ledger  End Period  Close
Property Month

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FINANCIAL REPORTS
Financial Reports :
• Straight lining function Reports
• Cost Inducement function Reports
• Overage Sales and calculation Report

39