Reconcile

The Reconcile (Rent Roll) utility, located on the Rent Roll Tab and the Budget Admin General toolbar, allows users to take their latest RISE data (accounting or pipeline) to compare, insert, delete speculative, and/or truncate existing contractual deals.

• Flags lease changes between RB and source accounting system based on changes to one of eight fields: Floor, Suite, Tenant, Status, Begin date, End date, Term, and Area.
• User has option to maintain speculative assumptions or update the Rent Roll with current information from accounting system

Alert: The Reconciliation Wizard looks for changes in Floor, Suite, Tenant, Status, Begin & End dates, Term, and Area. It does not look for changes in charges or recovery definitions.

Directions:

1. On the Rent Roll tab or Budget Admin General toolbar, click the "Reconcile" button; the "Rent Roll Reconciliation Wizard" window opens:
   • Recon Type:
     • Accounting 
     • Pipeline 
   • Source: List of available data via RISE
   • Selection:
     • Building - Query data Selected Buildings. Retail best practice: building by building.
     • Portfolio - Query data for Selected Portfolios.
   • Recoveries: (definitions/pools, not Charges)
     • Import - Bring in recovery definitions. Note: This may not be an option for all organizations. Recovery definitions may not be brought over via RISE.
     • None - Do not import recovery definitions.
     • Keep Existing - Speculative deal recovery definitions are overridden by existing; i.e. you are happy with the current recovery scenario. Alert: If a tenant is added via the Wizard and at that point in time it has a recovery definition, it will be imported. However, if the tenant was imported and the definition changes in the source accounting system, no change will take place in the application.
     • Copy MLA 
   • Capital:
     • Import - Bring in capital definitions.
     • None - Do not import capital definitions.
     • Keep Existing - Keep capital from an existing spec. deal and attach to the new deal.
   • Future Spec:
     • Delete - e.g. If there is any speculative deal, it replaces that spec. deal and any future deals.
     • Offset - Modify or truncate; if you want to see options going out many years. Applies to spec deals only. If the in-place spec deal is longer than the contractual deal in the source accounting system, Offset will keep the remaining period. Example: 7-year spec deal (2014-2021) - If a Contractual deal goes to 2019, Offset keeps the spec in place for 2 years after the contractual deal - 2020-2021. This is an expedite; it is intended to be edited. In this case, Delete would completely remove the spec deal.
   • Filter By: All, Suite, Suite Type, Tenant, Begin Date, End Date, and/or Area (same as Rent Roll)
   • Available Portfolios > >> < << Selected Portfolios - 
   • Available Buildings > >> < << Selected Buildings -
2. Assign the parameters and click "Continue." The "Available Portfolios/Buildings and Selected Portfolios/Buildings" fields minimize as the window populates with all of the New Deals: that are not in the current budget but are in the RISE data as of the Source: date.
   • Note: The "Available Portfolios/Buildings and Selected Portfolios/Buildings" fields are only visible and applicable when reconciling from the Budget General toolbar, not the Rent Roll tab. The Rent Roll Reconcile window will only populate with that specific building's deals; Portfolio wide reconciling is not allowed on the Rent Roll. Additionally, the "Hide Portfolios/Buildings and Show Portfolios/Buildings" buttons are only available at the Budget level.
   • Hide Portfolios/Buildings minimizes the "Available Portfolios/Buildings and Selected Portfolios/Buildings" fields. Show Portfolios/Buildings returns the fields.
3. Click on a lease in the New Deals: field. The Affected Deals: pane returns the Reconciling Action.
4. Check the items that are to be reconciled and click "Reconcile" to override existing lease detail. If you do not agree with the Reconciling Action, do not select it and do it manually on the Rent Roll.