Note: all Managers have permission to change the Period. However various steps need to be completed before you can do this.
- Run Analysis
- Change Period
- Post Recurring Charges
Run Analysis
The first step to changing the period in ResMan can and should be performed early in the month and several more times before the final day of the month. You should start the Change Period procedure on/around the 20th-25th of the month at the latest. In fact, that is what ResMan recommend. That way most of it can be done before that last day of the month when things start to get busy with rent collection for the next month.
To get started, click on Accounting >>> Change Current Period, scroll down and click “Run Analysis”. ResMan will perform a number of checks. If the individual check is OK and needs no more input before changing period then you will get a green check mark appear to the left of it. If you get a red “X” against an item, then that item needs more input from you before moving on. To see what needs to be resolved for a specific line item, then just click on that item. It will expand showing the items (residents, etc.) that need to be addressed.
In summary, you will often see:
Prepaid accounts without a reason
These can be addressed by adding a note/reason on the Boardroom page (under the property name, then Prepaids). To add a note/explanation just click the line item and type into the box that appears.
Residents not moved in
These applicants may need to be moved in, or have their move-in date changed, as necessary before you can change the period. If you’re running the analysis on the 20th of the month and you have move-ins scheduled for nearer the end of the month, then this line item will “fail” until they get moved in.
Still, if you run this on the 20th and see someone listed as moving in on the 10th, this can be a simple reminder that perhaps you forgot to move that applicant in, or change their move-in date. This is simple to take care of and something that does not have to wait until the last day of the month to address.
Resident not moved out
These will be addressed once you move them out of the system. If they have notified you that they want to stay over until the beginning of the next month (even for just one day), then you’ll need to update their move-out date to reflect this.
Renewed leases not under contract
This list shows any existing residents that are renewing but that have not been renewed in ResMan. Simple renew them (including having them sign a new lease, etc.) to resolve these.
Change Period
Once all of the above items are successfully addressed, then after running the analysis the green “Change Period” button will be enabled. You can then click that at the end of business on the last day of the month, or first thing on the first day of the new month to change to the new period.