Accounting Integration (The Galvestonian)

Accounting Integration (The Galvestonian)

This accounting integration is designed to allow the HOA to consolidate all accounting entries into a single platform “ ADDA”, making them easily accessible to owners through both the ADDA app and the ADDA resident portal.

Step 1 : Rental Software to ADDA 

Once the rent is collected and you receive a net rental balance from your rental software, the amount is recorded in ADDA.

Here's the process for posting rental income to owner units in ADDA:

Step 1: Navigate to the ADDA Dashboard >> Income Tracker >> Member Income >> Sync Rentals and Payments.
Step 2: For the option “1. Rental Software to ADDA - Post Rental Income to Owner Units'' >>  Click on "Upload CSV File"
Step 3: Download the template, fill in the details such as Posting Date, Amount, and Notes, then save it in CSV format.
Step 4: Return to Sync Rentals and Payments Screen, For the option “1. Rental Software to ADDA - Post Rental Income to Owner Units'' >>  Click on "Upload CSV File >> Choose the file, and  Click on “Upload document”.

Step 2 : Generate HOA Bills

Once the rental income is recorded, the subsequent action is to generate the monthly assessment. Please follow the steps below:

Navigate to Income Tracker >> Member Income >> Bulk Posting >> Post Invoices in Bulk >> Click on "Generate Auto-Invoices" >> Fill in the Month >> Click on "Generate Where Applicable."

ADDA will commence generating invoices for each unit. This process may take a few minutes.

Step 3 : Report on “ Payout to Rental units with Advances” 

After uploading the net rental incomes in ADDA and generating assessment fees, the next step is to view the report, which indicates units where the HOA needs to issue refunds or payouts to the owner.

How to view the report on “  Payouts to Rental Units with Advances” 

Step 1: Go to the ADDA Dashboard >> Income Tracker >> Member Income >> Sync Rentals and Payments.
Step 2: For the option “2. Payouts to Rental Units with Advances” >> Click on "Generate Report of Units with Advances" 
Step 3: Fetch the report as of the current date. You'll see a list of units where advances are still pending refund to the owner.
Step 4: Admins can click on the unit number to download the statement of accounts for payout purposes.

Step 4 : Bill.com to ADDA 

Once payouts are processed through Bill.com, the payments need to be updated back to ADDA.
 
Step 1: Navigate to the ADDA Dashboard >> Income Tracker >> Member Income >> Sync Rentals and Payments.
Step 2: For the option“ 3. Payout Software to ADDA” >> Click on "Upload CSV File of Transfers" 
Step 3: Download the template, fill in the mandatory details, and save it in CSV format.
Step 4: Return to Sync Rentals and Payments screen >>  For the option“ 3. Payout Software to ADDA ” >> Click on "Upload CSV File of Transfers" ,choose the file, and upload the document.



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