CHART OF OPERATING ACCOUNTS - Milestone Management

Retained Deposits: The remaining balance of a security deposit which after application to unpaid charges is retained rather than refunded to the resid...
7 downloads 476 Views 109KB Size
Download PDF
Love PNG Images
Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

Rental Income 41110-0000 41115-0000

Gross Potential Rent Loss to Lease

Value of all Apartments at their Current Market Rate. Difference between Lease Rate and Market Rate of occupied units.

41120-0000

Loss to Vacancies

Rental value loss from apartments that are unoccupied during the month.

41130-0000

Tenant Uncollectables

Charges to vacated residents remaining unpaid after application of all deposits.

41135-0000

Bad Debt Collections

Collections made after the resident has vacated the apartment and the move-out report has been completed are credited back to this account.

41140-0000 41150-0000 41160-0000

Loss to Models Associate Discount Adjustments to Other Months

Rental value loss from apartments used as models Rental value loss from discounts on associate leases. Adjustments made to the Rent Roll because of prior and future month activity.

41170-0000

Rent Insurance Proceeds

Rental income recorded from insurance reimbursement for lost rents.

41180-0000

Rent Subsidies

Rental income from government subsidies paid for all or portion of a resident’s monthly rent.

41190-0000

Rent Concessions

Resident rental charges for which payment is abated (not owed) in consideration for signing a lease or other unusual circumstances with the rental apartments. Upfront free rent only

Miscellaneous Income 41210-0000

Retained Deposits

The remaining balance of a security deposit which after application to unpaid charges is retained rather than refunded to the resident. This includes deposits from prospects who cancel after being approved and deposits forfeited if a resident breaks their lease.

41220-0000

Cleaning/Damage Charges

Charges billed to residents for cleaning or damages to the apartment. This includes all cleaning and damage charges that are billed on the move-out report when a resident moves out and payments from residents for damage done to the community (i.e.: broken window, etc.).

41230-0000

Late/NSF Fees

Fees billed to residents for late payment of rent or the return of personal check by a bank as uncollectable.

41240-0000

Application/Transfer Fees

Fees billed to residents for processing applications or transfers between apartments.

41250-0000

Pet Rent

The non-refundable portion of the pet fee. If the collected funds will be used to offset future cleaning or repairs, the total amount must be coded to account 22001-Resident Security Deposit.

41260-0000

Keys & Locks

Charges for additional keys or keys not returned at time of move out, lock change fees, or fees for installation of resident requested additional locks or safety devices in the apartment.

41270-0010 41270-0020 41270-0030 41270-0040

Ancillary Income - Cable Pest Control Recovery Ancillary Income - Local Telephones Ancillary Income - Long Distance Telephone

Cable television commission. Pest Control related damages billed to the residents. Local telephone commission. Long Distance telephone commission.

41270-0050

Ancillary Income - Bundled Services

Combination of local and long distance commission.

Page 1 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

41270-0060

Ancillary Income - Vending

All receipts from vending companies or on-site collections obtained from vending equipment. This includes candy & drink machines, pay telephones, and other vending equipment on-site.

41270-0070 41270-0080

Ancillary Income - Internet/Data Ancillary Income - In-Apt Laundry Rentals

Internet commission. Income earned from rental of washer and dryer units. See acct #51155 for the expense account offset.

41270-0090

Ancillary Income - Laundry Room Commission

All receipts of laundry revenue from service companies or on-site operation of laundry equipment and revenue from the sale of laundry tokens, soap, etc.

41270-0110

Ancillary Income - Other

All other ancillary income not categorized in the preceding accounts.

41280-0000

Parking/Garage/Carport Charges

Charges for covered parking, garage, carport and additional or preferred parking spaces.

41290-0000 41300-0000

Corp Amenity Legal Fees Charged

Charges billed to residents for corporate unit costs. All legal fees billed to a current resident for eviction proceedings and any other legal matter.

41310-0000

Redecorating/Administration fee

Charges billed to residents for changing the interior decorations of an apartment.

41320-0000 41340-0000 41350-0000

City Taxes Alarm System Charges Resident Electric Charges

Resident billings to cover the appropriate city taxes. Charges for individual apartment alarm systems. Charges billed to residents for electrical usage through submetering of a master metered community.

41360-0000

Bonus Reimbursement

Cable and other companies pay our on-site staff a bonus to sign up residents for their services. Milestone pays this bonus to onsite personnel, then the company reimburses Milestone for the payment made on its behalf. This account tracks the reimbursements and offsets account # 55160.

41370-0000

Furniture Charges

All corporate and guest apartment income such as washer/dryer, cable television, linens, furniture, phone, etc.

41380-0000

Accelerated Rent

Charges billed to residents for rent through the end of the lease term.

41385-0000

Reletting Fee

Charges billed to residents for breaking a lease. This fee is equal to a certain percentage of the monthly rent.

41390-0000

Other Miscellaneous Receipts

All charges to residents, which are not able to be categorized in the preceding accounts.

41410-0000 41411-0000 41412-0000 41413-0000 41414-0000 42290-0000

Water & Sewer Revenues Gas Revenue Trash Revenue Pest Control Rubs Rubs Service Fees Interest Income - Other

Income Income Income Income Income Income

Administrative Expenses 51110-0000

Credit Bureau Services

Cost of credit research and resident screening services for verification of resident applications.

51120-0000

Dues, Subs & Memberships

Cost of periodicals, publications, subscriptions, apartment association memberships, annual designation dues. Code Homeowners Association dues to account 51125.

51125-0000 51130-0000

Homeowners Association Dues Eviction / Court Costs

Dues paid to the Homeowners Association. Legal and court fees for processing resident evictions. Includes lawsuits and settlements.

Page 2 of 8

from Resident Utility Billings for Water and Sewer. from Resident Utility Billings for Gas. from Resident Utility Billings for Trash. from Resident Billings for Pest Control. from Resident Utility Billings for RUBS service fees. earned from interest bearing accounts and instruments.

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

51140-0000

Licenses, Fees & Permits

Payments imposed by local authorities for registration or permission to conduct business activities, such as building permits, boiler permits, business licenses, pool permits, trash removal & dumping permits, inspection fees, alarm permits, etc.

51150-0000

Office Furniture, Fixtures & Equipment Rent and Repair

Cost of renting, leasing or repairing office furniture and machines (copiers) including plant rental. Also includes the purchase of office furniture and equipment and plant rental. Excludes Computer repairs which are coded to 51220.

51155-0000

Washer/Dryer Rental

Costs to rent, lease, or repair washer and dryer units. Account #41270-80 is the offset account.

51160-0000

Office Supplies & Forms

Cost of office supplies and forms. Printing and duplicating not of an advertising nature. (Leases, applications, clicks, etc.)

51170-0000

Employee Travel & Reimbursement

Cost incurred by site associates in conducting community related business.

51172-0000

Uniforms

Purchase or rental of work clothes or uniforms for associates as required by management.

51174-0000

Employment Ads & Fees

Cost incurred in the recruitment of on-site associates and employment agency fees.

51176-0000

Employee Education & Events

Company approved and authorized education for on-site associates in the enhancement of job skills and knowledge, and company authorized functions for associates. Includes Grace Hill training and other webinar sessions. Includes ELLIS shop program

51177-0000 51178-0000

Employee Background Checks Other Employee Costs

Cost incurred to do employee background checks. Any employment cost not able to be categorized in the preceding accounts.

51180-0000 51190-0000

Postage & Delivery Other Administrative

Cost of postage, freight and express delivery services. Any administrative cost not able to be categorized in the preceding accounts (i.e. bank charges).

51200-0000

Sales/Occupancy Taxes

Any applicable tax expense for sales taxes and occupancy taxes.

51220-0000

Computer Repairs/Supplies

Cost to repair computers and miscellaneous computer supplies.

51230-0000 51250-0000

Software Software Maintenance Agreement

Cost of all computer software packages. YARDI Fees for licensing usage of a software package. HANDYTRAK and BLUEMOON

Advertising and Promotion 52010-0000

Apartment Locator Services

Fees paid to brokerage agencies for referral of prospective residents who lease apartments. Includes online locators like Rent.com.

52020-0010

Advertising - Direct Mail

Cost of advertising programs directed to the public through postal services.

52020-0020

Advertising - Flags & Banners

Cost of flags, banners and signs for display to attract attention of the public. Includes cost of temporary signs and balloons.

52020-0030

Advertising - Print and Internet Media

Cost of all advertising in print or online directed to the public.

52020-0040

Advertising - Other

All other advertising and promotion expense not categorized in the preceding accounts. This includes services or products that augment advertising like, SEM, V-Flyer, photography, video, and call tracking.

52050-0000

Model Apartment Costs

Cost of décor in full and mini model including furniture rental, linen and other accessories.

Page 3 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

52060-0000

Printed Materials

Cost of printing brochures, site maps, business cards, marketing flyers, and other advertising items.

52070-0000

Referral Allowances

Fee paid to resident for referral of prospective residents who lease apartments.

52080-0000

Resident Social Functions

Cost of events sponsored by community for the benefit and goodwill of residents. Includes annual and monthly events such as annual pool party, annual holiday party, monthly breakfast on the run, renewal parties, quarterly community awareness, etc.

52090-0000

Promotions

Any advertising and promotion cost not able to be categorized in the preceding accounts. This includes open houses, locator parties and outside marketing costs

52100-0000

Resident Retention

Cost of resident retention programs, surveys, and items purchased as resident gifts or retention tools. This includes move-in or renewal gifts, drinks, cookies, coffee service, popcorn or other food items, video rental services, newsletter, water coolers, etc.

52110-0000

Corporate and Guest apartments.

All Corporate and guest apt. costs such as washer/dryer rental, utilities, cable television, linens, furniture, phone, etc.

Repairs and MaintenanceSite 54110-0000

Landscaping

Cost of landscaping, including sod, mulch, tools, plants, shrubs, color changes, trees and landscaping, timbers or stones. Includes tree trimming or tree removal not related to a major roofing, siding or painting CAPEX project.

54115-0000

Irrigation Systems

Cost of irrigation maintenance contracts, general repairs, sprinkler heads, and other irrigation supplies.

54120-0000

Paving & Walkways

Cost of maintaining parking area and walkways under normal conditions. Includes minor repairs and restriping.

54130-0000

Recreational Equipment

Cost to maintain exercise equipment, tennis court, racquetball court, basketball court, BBQ equipment, playground equipment, and other recreational areas of the community.

54140-0000

Signs

Cost incurred to maintain permanent community signage including replacement, repairs and repainting.

54150-0000

Sweeping/Snow Removal

Cost to clean parking area of dirt and debris or snow accumulation.

54160-0000

Garage/Gate Entry Systems

Cost incurred to maintain access gate systems or garages or carport repairs.

54165-0000 54170-0010

Fence Repairs Pool/Spa -Repairs

Cost of repairing fencing. Cost to maintain pool and spa. This includes repair and replacement of pumps & motors, and the purchase of chemicals and supplies for the pool and spa. Contract pool company for cleaning.

54170-0020 54180-0000 54185-0000 54190-0000

Pool -Furniture Golf Cart Repairs Tools / Maintenance Equipment Other Site R & M

Cost to repair pool furniture. Costs to repair and maintain golf carts. Cost of (or repair to) tools and other maintenance equipment. Other maintenance costs on site not able to be categorized in the preceding accounts. Includes lake maintenance.

Repairs & Maintenance – Building Page 4 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

54310-0000

Carpentry

Cost of services, parts and supplies for repair of building exterior including siding, trim & fascia, exterior paint, stairways, balconies/patios, baseboards and doors.

54320-0000

Electrical - Exterior

Cost of exterior electrical services and repairs including circuit boxes, breakers, exterior wall plugs & switches, exterior light bulbs, transformers, ballasts and minor exterior light fixtures.

54330-0000

Elevator

Cost of repair services, parts and supplies for elevators. (Monthly Contract)

54340-0000

Pest Control

Cost of pest control services, chemicals and supplies for both internal and external treatment, and annual renewal fee/bond.

54340-0100

Pest Control Other

Cost of pest control services, chemicals and supplies for both internal and external treatment that will be billed back to the resident.

54350-0000

Heating/Air Conditioners

Cost of repair services, parts and supplies including motors, filter, freon, thermostats, specialty tools and other heating/air conditioning parts.

54360-0000

Plumbing - Exterior

Cost of services, parts, and supplies for plumbing backups, and boiler and pump repairs.

54370-0000

Roof

Cost of repair services, parts and supplies including flashing, guttering, patching materials, chimney caps and other roof materials.

54380-0010

Fire/Property Protection (Community Officers)

Cost of Community Officer (PSA) compensation, includes PSA free rent.

54380-0020

Fire/Property Protection (Patrol Services) Cost of contracted patrol services.

54380-0030

Fire/Property Protection (Repairs/Monthly Fees)

Cost of repair on monitoring equipment, intruder alarms, fire extinguisher purchase and maintenance, and smoke alarms. Also includes monthly fees for alarm monitoring. Includes all safety equipment. Includes fire extinguisher inspection, back flow inspections and 911 pool phones. Also includes battery replacement for smoke detectors.

54385-0000

Glass/Screen Replacement & Repair

Cost of repairing damaged or broken window panes. Includes door and window screen repairs.

54390-0000

Other Building R & M

Other building repair costs not able to be categorized in the preceding accounts.

54400-0000

Maintenance Supply Rebates

FOR CORPORATE USE ONLY. Rebates received by Cash Management from Maintenance Supply vendors.

Appliances Carpet & Tile Cleaning/Repair (Make Readies)

Cost of parts and labor on existing appliances. Cost of shampooing, redyeing, mending, patching, stretching, and any other carpet or tile maintenance item. Does not include carpet, pad or floor tile replacement. This account applies to make readies only.

Carpet & Tile Cleaning/Repair (Renewals)

Cost of shampooing, redyeing, mending, patching, stretching, and any other carpet or tile maintenance item. Does not include carpet, pad or floor tile replacement. This account applies to lease renewal apartments.

Repairs & Maintenance – Apartments 54510-0000 54520-0010

54520-0020

Page 5 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

54520-0030

Carpet & Tile Cleaning/Repair Other (Common Areas)

Cost of shampooing, redyeing, mending, patching, stretching, and any other carpet or tile maintenance item. Does not include carpet, pad or floor tile replacement. This account applies to offices, laundry rooms, clubrooms, and other common areas other than renewals and turnover units. Back ups/wet vacs from occupied units coded here.

54530-0000 54540-0000

Cleaning/Janitorial Supplies Drapery / Blinds

Cost of supplies and chemicals. Cost of cleaning and pressing drapery, repair and replacement of drapery, mini-blinds, and window hardware.

54550-0000 54560-0010

Key & Lock Painting Services (Make Readies)

Cost of keys, locks and locksmith services. Cost of paint, supplies and contracted labor (supplied by contract painter) for interior painting only. This account applies to make readies only. Sheetrock repairs go to 54580.

54560-0020

Painting Services (Renewals)

Cost of paint, supplies and contracted labor (supplied by contract painter) for interior painting only. This account applies to lease renewal apartments. Sheetrock repairs go to 54580.

54560-0030

Painting - Other (Common Areas)

Interior painting for other than renewals or turnovers. Includes offices, laundry rooms, clubrooms, fitness centers, etc. Sheetrock repairs go to 54580.

54565-0000

Painting Supplies

Painting supplies purchased for in house work to be done. Includes paint purchased for contracted make readies.

54570-0000

Wall Covering

Cost of labor and materials for wall coverings exclusive of painted walls.

54580-0000

Interior Rehab Repairs

Cost of repair to sheetrock, ceramic tile, minor sub flooring, millwork and doors. Sheetrock repairs from paint contractor are coded here.

54590-0000

Other Apartment R & M

Other interior repairs not able to be categorized in the preceding accounts.

54600-0000

Plumbing - Interior

Cost of services, parts, and supplies including minor fixtures for kitchens, baths, and halls (sinks, faucets). Includes back flow preventers, valve replacements, water softeners, and plumbing leaks.

54610-0000

Electrical - Interior

Cost of electrical services and repairs including interior wall plugs and switches, interior circuit boxes, light bulbs, and breakers, and interior light fixtures.

54630-0010

Cleaning Services - (Make Readies)

Cost of contract labor for cleaning vacant apartments. This account applies to make readies only. Includes contract Make Readies.

54630-0020 54630-0030

Cleaning Services - (Renewals) Cleaning Services - (Common Area)

Cost of contract labor for cleaning lease renewals only. Cost of cleaning services for common areas only; office, clubroom, laundry rooms, fitness center, models, etc.

54640-0000

Cabinet / Countertop / Bathtub Repairs Cost of resurfacing cabinets and countertops. Includes bathtub resurfacing and repairs.

Payroll Compensation 55110-0000 55115-0000 55160-0010 55160-0015 55160-0018

Salary – Staff Payroll - Overtime Leasing Bonuses - New Leases Leasing Bonuses - Renewals Leasing Bonuses - Other

Direct salary of all on-site staff. All overtime costs for on-site staff. Incentive payments to on-site personnel for new leases. Incentive payments to on-site personnel for lease renewals. Incentive payments to on-site personnel for any other leasing commissions earned. Includes zero delinquent bonus

55160-0020

Quarterly Performance Bonuses

Bonus payments to on-site staff for quarterly performance goals.

55160-0030

President's Award Bonus

Bonus payments to on-site staff for Presidents Award. Page 6 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

55170-0000 55190-0000

Employee Apartments Other Compensation

Rental value loss from associate free apartment. Compensation to associates not able to be categorized in the preceding accounts.

55210-0000

Temporary Help

Cost of non-associate labor obtained from temporary agencies.

Payroll – Burden/Other 55401-0000

Payroll Burden

Percentage allocation based on salary expense and bonuses & commissions to cover payroll taxes, group and worker’s compensation insurance.

Utilities 58110-0000

Electric - House Meters

Cost of electrical usage for laundry rooms, office, clubhouse, buildings, exterior lighting and common area lighting.

58120-0000

Gas – House Meters

Cost of gas service for laundry rooms, office, clubrooms, buildings and other common areas.

58130-0000 58140-0000 58150-0000

Water Sewer Trash Removal

Cost of water usage. Cost of sewer and sanitation services. Cost of services for the removal of trash and refuse from the community and rental costs of trash containers.

58160-0000

Cable Contract

Contracted cost for delivery of cable television signal to each apartment.

58170-0010

Telecommunications (Telephone)

All telephone service and usage charges, equipment rental and cost of repairs.

58170-0020

Telecommunications (Pagers/Mobile Phones)

All pager, Sprint/Nextel, and mobile phones service and usage charges, and cost of equipment and repairs.

58170-0030

Telecommunications (Answering Services)

Cost of all answering services.

58170-0040

Telecommunications (Other)

All other telecommunication charges not categorized in the preceding accounts. Internet service for leasing office

58180-0000

Water and Sewer Reimbursement

Amount of water and sewer expense reimbursement collected from residents (RUBS). This is treated as an expense reduction item since amounts recorded to this account adjust the Utilities expense line item.

58190-0010 58190-0020 58190-0030

Other Utility (Late Fees) Other Utility (Fees) Other Utility (Other)

Late fees on utility invoices. Fees on utility invoices that are not late charges. Any utility cost not able to be categorized in the preceding accounts including monthly service fees paid to a RUBS provider and master metered reading fees-3rd Party Billing Fees

58210-0000 58215-0000

Electric – Vacants Vacant Electric - Refunds

Cost of electrical usage for vacant apartments. Refunds for the cost of electrical usage for vacant apartments.

58220-0000 58230-0000

Gas – Vacants Water – Vacants

Cost of gas usage for vacant apartments. Cost of water usage for vacant apartments.

Repair & Maintenance Other 59001-0000

Net Casualty Loss - R&M

All expenditures related to casualty losses.

Insurance 59101-0000

Insurance - Peril and Liability

Cost of community insurance. This does not include associate insurance.

59110-0000 59115-0000

Surety Bonds Loss Pool Contribution

Cost of surety bonds. Cost of the community insurance aggregate. Page 7 of 8

Revised 12/21/2010

CHART OF OPERATING ACCOUNTS - Milestone Management Account Number

Account Title

Account Description

59120-0000

Other Insurance Costs

Other insurance costs not able to be categorized in the preceding accounts.

Taxes 59501-0000 59510-0000 59520-0000

Real Estate Taxes Ad Valorem Tax Service Prior Year Tax Adjustments

Cost of Real Estate Taxes. Cost of Ad Valorem Tax Service performed. Costs relating to prior year taxes. Also, includes tax refunds from prior years.

59530-0000 59540-0000

Ad Valorem Tax Litigation Other Taxes

Cost of Ad Valorem Tax Litigation. Any tax not able to be categorized in the preceding accounts.

Page 8 of 8