After your Property Management and Accounts training day, your trainer will have advised you to practice your accounting routines on Jupix.
This will have created an audit trail and balances which means that we cannot set the system up to a reconciled bank account balance at Go Live. It's at this point where a ledger reset is required.
For more information on entering Opening Balances, click here
This article includes:
- What items are deleted?
- Will I have to add my tenancy records again?
- I have been using the system to send statements to landlords, how can I keep a copy?
What items are deleted?
- Rents that have been demanded
- Charges or expenses posted to the ledgers
- Receipts of monies
- Deposit balances
- Invoice numbers revert back to no 1
- Landlord statements reset to no 1 – If a landlord has been sent an email containing a statement link, this will no longer work
Will I have to add my tenancy records again?
No, contact records do not get touched. It's only the financial information on the ledgers that's cleared off the system.
The only other consideration is works orders. If a works order has been raised, it will remain on the property record. However, any invoices posted against it will be removed.
I have been using the system to send statements to landlords, how can I keep a copy?
If you've been using Jupix to calculate rents and generate statements for a period of time but want to reset the ledgers, usually due to accounting errors, you can request a back-up of the data.
- A download of every landlord, tenant and supplier ledger
- Copies of all landlord statements
- Copies of all agency invoices raised
In addition to this, we would advise you to pull the following reports:
- A final Trial Balances Report. In addition, save a copy of all previously generated TB’s
- Run a Deposits Held Report
- Run a Cash Book Report from the start of Jupix up to the current date
- Agency Income Report from the start of Jupix up to the current date
- Invoice Report from the start of Jupix up to the current date
- Rent Reports - Rent Arrears report
- Landlord Income Report for each financial year and then one for the period to date
- HMRC Reports including S23(18) Report, Annual Tax Return (NRLY) and Non-Resident Landlords Scheme (NRL6) for each financial year and for the period to date
Once a ledger has been reset, there is no way of being able to retrieve the financial data.