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Revela Reporting Overview - Accounting

Account Balance

Definition:
 A report that shows the current balance of an account, whether tenant, vendor, owner, or general financial account. It includes outstanding amounts and available credit.

Use Cases:

  • Monitor individual account balances for tenants or vendors

  • Track payments, charges, and credits on specific accounts

  • Identify overdue balances or unallocated payments

  • Facilitate communication with tenants or vendors about amounts due or credit availability

Account Ledger

Definition:
 A detailed record of all transactions (credits, debits, payments, and charges) for a specific account, such as a tenant or vendor.

Use Cases:

  • Track the full transaction history for tenants or vendors

  • Reconcile discrepancies or answer tenant inquiries about charges

  • Review detailed accounts for audits and reports

  • Identify patterns in spending or payments by account type

Aging Payables

Definition:
 A report that categorizes outstanding payables (amounts owed to vendors) based on how long they have been due—typically divided into 30, 60, and 90+ days.

Use Cases:

  • Track unpaid bills to vendors and their aging status

  • Prioritize payments for overdue or high-priority bills

  • Evaluate cash flow and liquidity needs

  • Assist with vendor communications and payment terms negotiations

Aging Receivables

Definition:
 A report that categorizes tenant or customer receivables (amounts owed) based on how long the balance has been outstanding, typically in 30, 60, and 90+ day categories.

Use Cases:

  • Monitor overdue rent and outstanding tenant balances

  • Prioritize collections on aging accounts

  • Assess financial health and receivables performance

  • Help guide tenant communications and debt recovery strategies

Balance Sheet

Definition:
 A financial statement that provides a snapshot of a company's financial position at a specific point in time. It shows assets, liabilities, and equity.

Use Cases:

  • Assessing financial health and solvency

  • Preparing for audits or tax filings

  • Securing financing from lenders or investors

  • Comparing financial performance over time

Bank Balances

Definition:
 A report that lists the current balances of all bank accounts connected to the organization or property, often reflecting reconciled or unreconciled amounts.

Use Cases:

  • Monitoring available cash across accounts

  • Confirming reconciliation status

  • Detecting discrepancies or potential fraud

  • Managing day-to-day cash operations

Budget Variance

Definition:
 A report that compares actual financial performance to the budgeted figures, highlighting the differences (variances).

Use Cases:

  • Identifying overspending or underspending

  • Supporting financial planning and forecasting

  • Holding departments or teams accountable to their budgets

  • Making adjustments for future budgeting cycles

Cash Flow Statement

Definition:
 A financial report that shows the inflows and outflows of cash within a given time period, categorized into operating, investing, and financing activities.

Use Cases:

  • Ensuring sufficient cash to cover obligations

  • Evaluating the company’s ability to generate cash

  • Making informed investment or financing decisions

  • Monitoring short-term liquidity

Charge Register

Definition:
 A report that details all charges billed to tenants or customers during a specific period, including rent, fees, utilities, or other income items.

Use Cases:

  • Auditing tenant charges and income

  • Identifying missed or duplicate charges

  • Reconciling rent rolls and general ledger income

  • Tracking recurring vs. one-time charges

Deposit Register

Definition:
 A report listing all deposit transactions made into bank accounts, including rent collections, owner contributions, and other income sources.

Use Cases:

  • Reconcile bank deposits against accounting entries

  • Track tenant payments received by method (check, EFT, cash)

  • Provide backup for owner reporting or audits

  • Confirm deposit timing across properties or entities

Electronic Bill Payments

Definition:
 Tracks bills paid electronically through the system, showing vendor name, amount, payment date, and method (ACH, EFT, etc.).

Use Cases:

  • Monitor vendor disbursements and processing status

  • Confirm payment execution for accounting or vendors

  • Identify any failed or returned transactions

  • Assist with cash flow forecasting and approval workflows

Expense Register

Definition:
 A comprehensive list of all expenses posted during a selected period, broken down by vendor, property, category, or GL account.

Use Cases:

  • Review spending trends across properties

  • Audit vendor payments and cost allocations

  • Prepare for budget analysis or owner reporting

  • Ensure expenses are categorized correctly

Expense Report

Definition:
 A summarized view of categorized expenses, often grouped by GL code, department, or property for a given time period.

Use Cases:

  • Analyze operational spending patterns

  • Identify areas of overspending vs. budget

  • Support board, investor, or owner communications

  • Compare expenses across multiple properties or units

General Ledger

Definition:
 The master financial record that includes all journal entries, transactions, and balances for every account across the system.

Use Cases:

  • Perform detailed audits and reconciliations

  • Trace the history of any financial activity

  • Prepare financial statements (P&L, Balance Sheet, etc.)

  • Drill down into subledger activity for troubleshooting

Ledger

Definition:
 A term often used interchangeably with General Ledger, but may also refer to subledgers (e.g., tenant ledger, vendor ledger) showing all activity for an individual account.

Use Cases:

  • Review transaction history for a specific tenant, vendor, or owner

  • Validate balances and charges line-by-line

  • Provide detailed backup for disputes or audits

  • Support payment plans, collections, or reimbursements

Income Statement

Definition:
 Also known as the Profit and Loss Statement (P&L), the Income Statement summarizes an organization’s revenues, expenses, and profits or losses over a specific period of time (monthly, quarterly, annually, etc.).

It follows the formula:
Revenue – Expenses = Net Income

Use Cases:

  • Measuring Profitability: Understand how much profit (or loss) the business or property generated during a given period.

  • Tracking Revenue Streams: Analyze which sources of income (e.g., rent, late fees, service charges) are performing well.

  • Expense Management: Identify high or rising expense categories to control or reduce costs.

  • Investor & Stakeholder Reporting: Share financial performance with owners, investors, or board members.

  • Comparative Analysis: Compare current performance against previous periods or budgeted expectations.

  • Tax Preparation: Provides essential information for calculating business taxes.

Period Change

Definition:
 A financial process/report that finalizes and closes out a specific accounting period, preparing the books for the next period.

Use Cases:

  • Lock financial activity to prevent backdating or edits

  • Ensure reports reflect final numbers for the period

  • Trigger recurring entries, owner distributions, or statement runs

  • Prepare for audits or monthly financial reviews

Period Change Balance Sheet

Definition:
 A snapshot of the balance sheet taken at the end of an accounting period, used to compare financial positions between periods.

Use Cases:

  • Track changes in assets, liabilities, and equity over time

  • Detect abnormal balance movements

  • Reconcile period-end activity

  • Support owner or board reporting

Prepayment

Definition:
 A report showing payments made in advance—typically by tenants—before rent or charges are due.

Use Cases:

  • Track tenant overpayments or advance rent

  • Prevent duplicate billing or charges

  • Apply prepayments correctly when new charges post

  • Ensure compliance with accounting and deposit rules

Profit and Loss (Income Statement)

Definition:
 Summarizes income and expenses for a specific period, showing net profit or loss for a property or entity.

Use Cases:

  • Evaluate property profitability

  • Compare actuals to budget

  • Support tax preparation or audits

  • Share financial performance with owners/investors

Receivables Summary

Definition:
 Summarizes all outstanding balances owed to the company (accounts receivable), often broken down by aging and tenant.

Use Cases:

  • Monitor collections and outstanding rent

  • Prioritize follow-up on overdue accounts

  • Assess cash flow health

  • Report delinquency rates to stakeholders

Recurring Invoices

Definition:
 A listing of automatically generated invoices that recur monthly or on a custom schedule (e.g., rent, parking, storage).

Use Cases:

  • Ensure expected charges are billed consistently

  • Automate repetitive billing tasks

  • Track when and how invoices are generated

  • Troubleshoot missing or duplicate charges

Recurring Journal Entries

Definition:
 Entries automatically posted at set intervals for regular accounting needs (e.g., depreciation, accruals, management fees).

Use Cases:

  • Maintain consistent and accurate financial records

  • Automate complex or multi-property accounting

  • Prepare for month-end close

  • Reduce manual entry errors

Transaction Batches

Definition:
 A group of financial transactions processed together, often used to control posting and audit trails.

Use Cases:

  • Review and approve entries before posting

  • Group related transactions by category or purpose

  • Track manual entries by user/date

  • Ensure clean and auditable financials

Trial Balance

Definition:
 A financial report listing the ending balances of all accounts in the general ledger, ensuring debits equal credits.

Use Cases:

  • Identify errors in accounting records

  • Prepare for financial statement generation

  • Perform pre-close audits

  • Validate financial accuracy across properties

Unapplied Payments

Definition:
 Shows payments received that haven’t been applied to an invoice or charge—may come from tenants, owners, or vendors.

Use Cases:

  • Reconcile open payments to charges

  • Prevent funds from being stranded or misapplied

  • Flag issues for accounting staff to resolve

  • Maintain clean ledgers and accurate balances

Unapplied Tenant Payments

Definition:
 A subset of unapplied payments that specifically come from tenants—common when a tenant pays without an open invoice.

Use Cases:

  • Investigate tenant disputes or overpayments

  • Apply funds correctly to reduce receivables

  • Track prepayments or deposits

  • Clean up aging tenant ledgers

Unapplied Vendor Payments

Definition:
 Payments issued to vendors that haven't been matched to an invoice—can occur due to timing, misposting, or manual errors.

Use Cases:

  • Avoid double-paying vendors

  • Investigate vendor payment discrepancies

  • Clear open balances before year-end

  • Ensure accurate accounts payable records

Vendor Ledger

Definition:
 Detailed financial activity for each vendor, showing invoices, payments, credits, and balances due.

Use Cases:

  • Reconcile vendor accounts

  • Resolve payment disputes

  • Track contractor or supplier history

  • Support budgeting and cash flow planning