You’ve been asking for the ability to set up recurring journal entries - and now we’re excited to say, you can!
With the ability to set up journal entries that record on a recurring basis, you won...
Reports required
Fund Based Budget vs Actual
Fund Accounting Balance Sheet
Fund Based Income Statement
Reports required
Balance Sheet
Income Statement
Cash Flow Statement
Budget vs Actual
S...
How do I set up rent hitting multiple general ledger accounts?
Go to rentals >> rent roll >> click into the lease >> click the financials tab >> rent page and click “Add rent”
Enter the date...
Rent allows you to ensure your rent roll is accurate, by automatically posting and tracking rent charges separate from other recurring charges.
Now you can track changes to rent over time and make ...
A chart of accounts is a tool that categorizes financial transactions. Account types include income, expenses, liabilities, equity, and assets. In this article you will find detailed information on...
Every financial transaction that you record in Buildium will be coded to one or more accounts. By choosing an account, you'll tell the software what the transaction is for and how it should be used...
Buildium comes with a standard chart of accounts, but some customers choose to customize the list further by adding new accounts, or editing current accounts to contain an ordered number system.
To...
If you need to remove an item from your chart of accounts, you have two options.
If the account has no transactions tied to it, you can delete the account right away.
If the account has been used ...
If your goal is to change only one or two transactions, it's better to adjust the individual transactions. Use this feature to make a sweeping change in your account:
Navigate to Accounting > Char...
Tenants and association owners are usually good at paying on time. Sometimes, they pay in advance or you require them to pay last month's rent up front, which can cause unwanted fluctuations in you...
In Buildium, a $0 check is a transaction that transfers funds within a single bank account between properties. The transaction is just to show money moving from one property to another in the same ...
A budget is a tool to plan upcoming income and expenses.
Synonyms include financial estimates, financial planning, and fiscal estimation.
For example:
My rental owners are appreciative of the fisc...
At present, Buildium does not have a formal feature for tracking loans. Our accounting system can track a loan for you through other functions.
A loan is an amount of money that is borrowed with a...
If you want to track a mortgage for a property in Buildium, there are a few different steps to ensure it is entered properly so you can record any financial transactions associated with it.
Use thi...
Use this topic if you're entering an opening balance using a trial balance report from another accounting program. This is an advanced option that allows you to enter opening balances for multiple ...
This article serves as general advice regarding audit compliance. Each state varies in their requirements, therefore, it is always recommended to speak with your state's licensing committee.
For i...
This article serves as general advice regarding audit compliance for the state of North Carolina. For specific questions or concerns, it is always recommended to speak with your state's licensing c...
To track the depreciation of a property, create an asset account to track the property's accumulated depreciation. On your chart of accounts, create a fixed asset account called "Accumulated Deprec...
Closing the books is an accounting term that means that all activity has finished for a period and no further changes are expected. In effect, you're locking things "as is" so that your reports loo...
This topic lists general steps that you should consider if you need to close a property because it is sold or if you no longer plan to work with the rental owner.
Come to an agreement about what's...
A general journal entry is the core accounting transaction behind every financial transaction you create in Buildium. Using this feature is an advanced use of Buildium.
Synonyms include GJE, journa...
Capital expenses such as property, fixtures, or equipment are treated as investments in your business; therefore they must be deducted (i.e. depreciated) over a number of years as specified in the ...
To add a recurring general journal entry go to
Navigate to Accounting > Recurring transactions
Click Add recurring journal entries.
Complete the form.
In order to set up a one time scheduled jou...
Common Area Maintenance charges are shared charges that are paid for by the tenants at the property. Common examples include trash pickup, snow removal fees, landscaping, and water/sewer. CAM charg...
Common expense allocations allow you to easily apply property expenses to tenants for reimbursement. Common uses include non-metered utilities reimbursement, RUBS, and CAM charges.
For example, 101...
Buildium offers a variety of ways to tell when a tenant or association owner is late. This topic offers an overview of how to answer the question, "how do I know who is late?"
Buildium offers an Ou...
A meter reading is a record of the amount on a utility meter as of a date.
For example
A natural gas company records "therms."
Electric company usually records kWh (kilowatt hour).
An oil company ...
Payment instructions is a block of text that is displayed on the tenant site and association owner site, informing your residents where to send their money and other instructions.
These instruction...
The ratio utility billing system is a method of allocating utility costs among the residents of a property. The allocation is usually based on the size of the unit or occupancy.
A common acronym fo...
From time to time, a tenant may pay a rental owner directly. In this case, it's important to record this money on the tenant's ledger for a few reasons:
To ensure the ledger's accuracy.
If the man...
