FINANCIAL AGED RECEIVABLES REPORT
MONTH END CLOSE WORKFLOW | JOB AID
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As of 5/2/2025, the Financial Aged Report has been replaced by the Delinquency Report.
This job aid provides information on the Financial Aged Receivables Report.
The Financial Aged Receivables Report lists residents with delinquent and/or prepaid balances as of the current property date. This report ages delinquent and prepaid balances into 30, 60, 90, and 90+ day categories. You have the option to generate the report by property, by resident, by charge code, or by resident and charge code.
Use the report summarized by resident (or resident by charge code) to track balances.
The period type is determined by report parameters. Always ensure you update the month/year to the current period to include all accurate balances.
PAYMENT ALLOCATIONS
PAYMENT ALLOCATIONS
In Yardi, there are system tasks that designate how payments are applied to charges if the allocation is not selected while applying the payment to the system. When scanning checks, it is very important to pay attention to the charges you select for the payment to satisfy as this affects how the report shows prepaid and delinquent transactions. That is, a resident can appear to be delinquent, but the ledger shows the account as current if the payment is not properly allocated to the right charges.
DELINQUENCY COMMENTS
DELINQUENCY COMMENTS
Delinquency comments are required only if there is a delinquency.
Here’s how to add Delinquency Comments in Yardi:
Go to the Resident profile.
Select Data, then Memo
Select New
Enter the following information in the fields provided:
Date: Today’s date
Type: Delinquency Comments
Notes: enter notes of what was accomplished and detailed notes regarding how you followed up with the resident along with the result of follow up.
Click the Save button to save changes.
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IMPORTANT: Once a former resident’s balance has been sent to collections and is written off, they will no longer appear in the Aged Receivables report.
STEP 1: GENERATE THE REPORT
STEP 1: GENERATE THE REPORT
To generate this report:
From the menu, select Analytics, then Residential AR Analytics.
On the Receivable Analytics screen complete the following:
Property - enter your property.
Status - select all statuses or filter by certain statuses
Report Type - select Financial Aged Receivable
Summary Type - select Resident (or "Resident by Charge Code" to see charges broken down by charge code).
As of Month - select the current month and year
Note: for higher level review, you can also summarize by property to review the full delinquent amount for the property, or summarize by charge code to review the delinquent amount per charge code. For month end close, please review by Resident or Resident by Charge Code.
Select Display to run the report.
STEP 2: WHAT TO LOOK FOR
STEP 2: WHAT TO LOOK FOR
FOR CM/ACMs
FOR CM/ACMs
A) Total Unpaid Charges - Review prepayments to ensure that all proper charges have been assessed. For example: if there is a prepayment amount, check the ledger to ensure that the charge that the payment belongs to is assessed correctly and that the payments are allocated to the right charges. Prepayments of larger values may signify a termination fee or other charge that has not been added to the ledger.
In addition, review for any ledgers showing both an unpaid balance and a prepay balance. This means that a payment is not properly allocated to a charge.
Be sure to review the resident statuses as well (canceled, denied, current, past, etc.) in order to stay on top of your collection efforts.
Use the toolbox on the side menu to select apply prepayments.
Enter the property and display accounts that have unapplied prepayments.
By posting the prepayment, the report will be updated, and the resident will no longer show.
B) If there are prepaid or delinquent amounts that won’t be resolved before the account moves into the 90+ day column, add notes within the memo (refer to Delinquency Comments section above with instructions).
C) Ensure all residents who have unpaid balances are served with the proper legal collection notice or balance due notice and are followed up with accordingly.
Summarizing by Resident by Charge Code shows the delinquent and prepaid amounts sorted by transaction code, but organized by resident as well:
Summarizing by Charge Code shows the delinquent and prepaid amounts sorted by transaction code:
FREQUENCY ON RUNNING REPORT
FREQUENCY ON RUNNING REPORT
CM/ACMs are to run this report weekly and update comments as needed; PAs are to run and review during Yardi Close.
FREQUENCY ON RUNNING REPORT
FREQUENCY ON RUNNING REPORT
Financial Aged Receivables Report Video
Financial Aged Receivables Report Video
View this video to learn about what to do if there is a payment allocation issue on the Financial Aged Receivables Report.
See other job aids:
Financial Aged Receivables Report
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