Produce reconciliation report when migrating from other software to Reapit Client Accounts (UK only)

Owned by Fiona Hardy, created
Last updated: Aug 16, 2022
3 min read

This guide has been reviewed against our global client base and classed as relevant to UK only

This guide outlines how a Client Accounts Reconciliation Report can be produced, with specific information on how this is carried out from the following different software packages: CFP, Vebra, Gemini & Jupix

To move from your current provider to using Reapit AgencyCloud for Client Accounts, a reconciliation report needs to be produced that matches your bank statement

This reconciliation should account for every penny in your bank account(s) - it should contain:

  • a clear breakdown of all balances that make up the bank account

  • information on which client (landlord, tenant, supplier, etc.) the balances relate to

  • the type of balance (deposits, float, rent due, withheld tax, etc.).

The reconciliation reports should cover every bank account that holds client money. There should not be any negative cash balances on the report - negative balances indicate that the client account is overdrawn so, if there are any, the client account will need to be replenished to cover the deficit

If you use CFP, Vebra, Gemini or Jupix, see relevant section below:

If you use another system, consult with your client accountant/software provider on how to produce the required reports

If you have any covering sheets or additional reports that you produce in addition to the reports from your system, these should be included in your submission

If your existing system is manual (e.g. Excel, Sage, etc.), a sample reconciliation report is included below, showing an example of the information required

 

CFP

There are two reports you need to produce from CFP:

Reconcile Balances Report

The Reconcile Balances Report is a breakdown of all of the balances in CFP - there should be no negative balances in the Cash Client Account or Cash Book Balance columns on this report

Bank Reconciliation Report

The Bank Reconciliation Report is produced when the bank account is reconciled; it should have a figure matching to the bank statement on the same day. There should be no unreconciled credits showing on this report. Unreconciled debits are not a problem, but any dating back several years should be reviewed.

There are two important figures on this report:

  • Balance Carried Forward - this figure should match your bank statement

  • Report Cash Book Balance Calculated - this figure should match the Reconciled Balances total on the Reconcile Balances Report

Vebra

Landlord Bank Balance

The Landlord Bank Balance Report needs to be provided from Vebra - Reapit may also contact you to connect to your Vebra database in order to obtain additional reconciliation information

Gemini

The following three reports are required from Gemini.

Account Totals Report

The Accounts Totals Report lists the balances for all your landlords and tenants.

Cashbook Report

The Cashbook Report lists the unreconciled items. There should be no credits showing.

Holding Account Report

You need to produce a breakdown of all balances in the Holding Account. This may need to be manually produced

Jupix

The Trial Balances Report is required from Jupix. There should be no negative cash balances or unreconciled credits showing.

Related articles

Â