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Las Vegas Property Management Las Vegas Real Estate Rentals and Realty - Atlas Group
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UNDERSTANDING REPORTS
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Ok, you're confused. Why, do these reports have
to be so difficult? Well, like most things, they're not if you
take the time to look them over slowly and carefully. And, as
with most things, the more often you interact with them, the
easier they are to understand. However, there are just a couple
of "basics" that will lift 90% of the fog.
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CASH FLOW - The most important thing to remember about the Cash
Flow Report is that the Month-To-Date (MTD) column only shows
activity from the 1st of the month up until the time the report
is generated. This is key.
Conversely, the Year-To-Date (YTD) column shows all the activity
from the beginning of the year until the time of printing. It
is an accumulation of everything that has happened in the account.
That means that if there is income or expenses generated after
you receive your report, and before the 1st of next month, you
are not going to see those figures in the MTD column. You will
only see an increase in the YTD figures.
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The Cash Flow Report shows GROUPS of expenses.
An example would be Appliances. You could have a total in either
column of say $1000.00. That total might consist of a refrigerator
and a stove and maybe even a dishwasher. You can't tell the
breakdown by looking at the Cash Flow Report, only the total
spent in a particular category. This is the Report that you
use for doing your taxes and analyzing where your money went.
Every group is associated with a percentage as it relates to
total income.
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OWNERS STATEMENT - This Statement usually covers about a two month time period.
It is much easier to read and understand when trying to determine
how the account balances were determined. Here you can see all
the money coming in, the expenses, and the corresponding balance
in the account after each entry is made. You can see a further
breakdown of the individual specific expenses that make up the
total of the groups located on the Cash Flow Report. The
owners statement is where you will find most of your answers
to those nagging questions.
This is where you would look to see all those transactions that
happened after the 10th when the CASH FLOW Report was generated
and the end of the month. That is why we go back and include
the entire previous months transactions.
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