Overview
Simple Fund 360 allows you to produce a Rental Property Statement detailing the income and expense transactions for an investment property for a specified period.
This report can be used to complement the fund's Operating Statement.
What will display on the report?
For the income and expense details to show on the report, you need to ensure that the property income and expense transactions have been correctly posted to the linked property income and expense accounts.
- Refer to the How to Enter Rental Property Transactions for more information.
All income and expense transactions will display for the property(s) that have been selected including the corresponding tax return label.
If the fund is registered for GST, the GST calculations and labels will also display for that fund.
Simple Fund 360 will also calculate the following:
| Field | Calculation |
|---|---|
| Gross Rental Yield | Total Income/Market Value |
| Net Rental Yield | Net Rental Income/Market Value |
Separate Depreciable Assets
Depreciation for separate depreciable assets can be included in a property's overall depreciation figure on the Rental Property Statement.
For Separate Depreciable Assets recorded under 72650/Fixtures and Fittings or 76550/Plant and Equipment, these need to be linked to the main property account.
Alternatively, using the Worksheet method to record depreciation will achieve the same end result.
Prepare Report
| From the Main Toolbar, go to Reports. |
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| Select Reports. |
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- On the left-hand side of the Reports screen, Add the Rental Property Statement from the Financial Reports list.
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Once the report has been dragged & dropped, select Settings (to the right of the report). You have the option to select All properties or specific property(s) to display in the report.
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Only properties that have income/expense transactions within the Start/End Dates selected in the Reports screen will display. Otherwise, the following message will display: Property(s) do not have income/expense transactions.
Toggling
will prepare a combined Rental Property statement which combines the selected properties' income and expenses into one page.
- Select either Download PDF, Download Word or Download Excel. You can also add this report to a Report Pack. See Reports for instructions.