Steps to reconcile a terminated lease:

1. From the Property Management Tasks menu, select Manage Leases, Terminate Lease.
2. In the Terminate Lease window, select the appropriate lease and click Reconcile Account.
3. Enter the Transaction date and Accounting date to use for your reconciling transactions.
   • If you want to automatically apply credits and deposits to open charges, click Auto Apply.
   • To enter any new charges, click New Charges, create the entries, then click Close.
   • To enter cash receipts, click Cash Receipts, record the payment, then click Close.
   • Click the appropriate tabs to reconcile Credits, Deposits, and Charges. Select the open item you wish to reconcile, and click the appropriate button for the action.
     • Credits can be refunded or applied to open charges.
     • Deposits can be refunded, applied to open charges, forfeited (you must have an open charge to use this option), or transferred.
     • Charges can be adjusted or written off.
       • To write off a charge to bad debt, select the charge then click Write Off. Click Yes to the question confirming that you want to write off the charge.
         • On the Accrual accounting method, Write Off will create a bad debt entry using the Bad Debt account specified in PM Settings. On the Cash accounting method, no entries are created for General Ledger.
       • To adjust a charge, select the charge then click Adjust. Change the Amount to the amount you want to change the charge to. For example, if you want to remove the charge, change the Amount to 0.00. If you want to calculate the prorated amount of the charge, use the Prorate button.
         • On the Accrual accounting method, Adjust will reverse the charge using the original revenue account associated with the charge type.  On the Cash accounting method, no entries are created for General Ledger.
4. In the Terminate Lease Reconcile Account window, when all of the values at the bottom of the window are 0.00, click OK.
5. If you are ready to change the lease status to historical see article 28012 "How do I change a terminated lease to historical status (Move to History) in Property Management?"
6. Click Close and post your entries.

Notes:

• If buttons are missing on the tabs, or are shaded gray, refer to the following knowledgebase articles:
  • See "Task buttons are missing in Property Management" below.
  • See  "Why are Adjust and Write Off buttons unavailable on the Charges tab when reconciling a terminated lease in Property Management?" below.
  • See  "The Refund, Apply, and Forfeit buttons are unavailable or grayed out in Refund/Apply Deposits or Reconcile Account in Property Management" below.
• When creating a refund, an invoice is sent to Accounts Payable for the refund amount. Depending on your Post and Interface Settings, you may need to post invoices in Accounts Payable (Tasks, Post Invoices).

Related article: The Refund, Apply, and Forfeit buttons are unavailable or grayed out in Refund/Apply Deposits or Reconcile Account in Property Management
Related article: How do I terminate a lease in Property Management?
Related article: How do I change a terminated lease to historical status (Move to History) in Property Management?
Related article: Why are Adjust and Write Off buttons unavailable on the Charges tab when reconciling terminated lease in Property Management?
Related article: Task buttons are missing in Property Management