"THE PROPERTY MANAGEMENT SYSTEMS & software solutions SPECIALISTS”

GET HELP DJ

www.computoredge.com

DICK JONILONIS & ASSOCIATES

 2525 CAMINO DEL RIO SOUTH, SUITE 200

SAN DIEGO, CA 92108

 (619) 220-8925

TENANT PRO YEAR END PROCEDURES - 2003

Version 6.XX

A.   Complete December Month End -

            1. Management Fees

            2.  Vendor Payments to be made in December

            3.  Owner Distributions -

            4.  Correct / adjust any income or expense items that require correction for the year.   Post

            these corrections and / or adjustments to December 2003 -

            5.  Owners and P/M Office Reports -

6.  Backup -  At least 2 copies -  Label the 1st " End of December 2003 Processing"

            Label the 2nd " 2003 Unadjusted Totals & 1099 Processing" - See C below. -

            Note:  We also recommend that a copy of your DF1(s) be created on your hard .

            drive  for 1099 processing.

B.  13 Month Processing -   Use the same file identified above (A1 - A5) -

            1.  January Transactions as usual -

            2.  Transfer/ Clear Balance Sheet items showing on Cash Flow Report -

            i.e.  Owner Draw,  Owner Contribution,  Capital Improvements, etc. -

            Create journal entries to move balances from above to a Prior or 2003

            Owner Draw Account -  It may be necessary to create new balance sheet

            accounts to accommodate the transfers.  Date these JE's to 12/31/2003 -

            Note:  Items B1 and B2 must be completed before February!

            3.  Complete End of Year Processing -  Select Accounting  /  End of Year in

            Tenant Pro System -

                        a.  The System will zero Current and Year to Date Totals for all income

                        and expenses.

                        b.  The System will transfer all Current Earnings Totals to Retained Earnings Totals –

                        c.  The System will now apply any January transactions prepared above in B1,  and

                        will now apply them to the new 1st period.

                        d.  The system will clear all Vendor and Owner Totals from the Vendor

                        and Owner records -

                        e.  Complete your January processing and get on with 2003 -

C.  1099 Processing -

            1.  Obtain the appropriate 1099 forms for your printer -

            2.   Use your hard drive 1099 DF1 from A6 above  or restore your 1099 processing file

            from A 6 above into a 109902 DF1 file -

            3.  Start up Tenant Pro and Open your 109902.DF1 file.

            4.  Screen or run 1099s on blank paper for owners.  Verify the output by checking the owner

            totals, i.e. Gross Income per property -

            5.  After verification,  place the 1099 forms in your printer and run the 1099's for your owners.

            6.  Repeat  C 4 and C 5 above for vendors -

            7.  Store your back up of this file in a safe place.

   THE PROPERTY MANAGEMENT SYSTEM SPECIALISTS

(619) 220-8925

Fax (619( 220-8966

e-mail dickj@abac.com

www.pmsoftwaresolutions.com

Send mail to robertc@pmsoftwaresolutions.com with questions or comments about this web site.
Last modified: 03/26/08