General Ledger Report

The General Ledger report summarizes your facility’s financial transactions in a simple debit/credit format. It provides the net total by account code for the selected date range. This allows you to easily make a single journal entry to transfer your Storable Edge financial transactions to your accounting software. It can be customized to use your account descriptions and your account codes. Additionally, if you use any of these accounting programs, the General Ledger report can be exported out of Edge in its required format for easy import into those programs:

• AMSI

• Appfolio

• Great Plains

• QuickBooks (both the desktop and online versions)

• Sage 300 (formerly known as Timberline)

• Entrata

• Microsoft Dynamics

• *Acumatica - this option is not available to select when exporting the report, but is available as an integration.

• Yardi

To export the data, just select your accounting software from the dropdown when generating the report. The exported file can be imported directly into your accounting software.

If you are using Sage 300 (Timberline), you’ll need to ensure that a store number is entered into your Facility Info. This is populated in the exported general ledger data and is needed for your data to be assigned to the correct facility in Sage. You can learn more about adding a store number to your facility info on our help site.

General Ledger Report for Cash Accounting

Cash Accounting is the process by which revenue is recognized when money is exchanged. For facilities using the Cash Accounting method, you’ll have a General Ledger report similar to the one above.

Whenever a payment is made, this report will reflect a debit to the cash asset account used in the transaction and a credit to the income (or liability account in the case of tax or security deposits) account used in the transaction. Whenever a refund, voided payment, or payment reversal is processed, this report will reflect a credit to the cash asset account used in the transaction and a debit to the income (or liability account in the case of tax or security deposits) account used in the transaction.

In Cash Accounting, no general ledger transactions are recorded for generated invoices, credits, bad-debt write-offs, or waived fees. A general ledger transaction is recorded only when money exchanges hands through a payment, refund, or reversal.

Discounts are written to the general ledger as a reduction of income rather than written as the full income amount less discount expense. For Cash Accounting, that means if you charge a tenant $100 for rent but give them a $10 discount, resulting in a $90 payment, when the payment is processed, you will see that written in the General Ledger report as a debit of $90 to the appropriate cash asset account and a credit of $90 to the Rental Revenue account.

General Ledger Report for Accrual Accounting

Accrual Accounting is the process by which revenue is recognized when it is incurred, regardless of when money is exchanged. For facilities using the Accrual Accounting method, you’ll have a General Ledger report similar to the one above.

Whenever any financial transaction is processed in Edge, it will be reflected on the General Ledger report. For example, on the day an invoice for $100 in rent is due, the General Ledger report will show a $100 debit to Accounts Receivable - Rent and a $100 credit to Rental Revenue. When that invoice is paid, the General Ledger report will show a $100 debit to the appropriate cash asset account and a $100 credit to Accounts Receivable - Rent.

Discounts are written to the general ledger as a reduction of income rather than written as the full income amount less discount expense. For Accrual Accounting, that means if you charge a tenant $100 for rent but give them a $10 discount, resulting in a $90 payment, when the invoice is due, you will see a $90 debit to Accounts Receivable - Rent and a $90 credit to Rental Revenue. When that invoice is paid, the General Ledger report will show a $90 debit to the appropriate cash asset account and a $90 credit to Accounts Receivable - Rent.

General Ledger report vs General Ledger Detail Report

Since the General Ledger reports the net of all transactions for a date range, and the General Ledger Detail reports the full transaction details for the same date range, the total debits and credits on the reports will not match. This example illustrates that point.
Tenant A pays $50 for rent, and Tenant B is invoiced $85 for rent but doesn’t pay it.

Adding Custom Descriptions and Account Codes to the General Ledger Report

The General Ledger report can be customized to use your account descriptions and your account codes. Navigate to Corporate Settings in your account and select the Account Codes button in the Software Settings tab. There, you can change the default account description and add your company’s account codes to the chart of accounts.

Yardi Export

The Yardi export option is available in Corporate Reports in the General Ledger report. At the corporate level, the export aggregates all facilities into one spreadsheet. The Yardi export option is also available in the Facility Reports section of the General Ledger by Day report.

The export does not include column headers, as required by Yardi for uploading. Below are descriptions of the included columns.

• TYPE - Always the letter "J" to indicate "Journal Entry"

• TRANNUM - The transaction effective day

• The next 2 columns will always be blank

• POSTDATE - The effective date of the transaction

• POSTMONTH - The effective date of the transaction

• The next column will always be blank

• NOTES - Always the phrase "Edge General Ledger"

• PROPERTYNUM - The store ID number

• AMOUNT - The amount of the transaction

• GLCODE - The custom account code set in Accounts Codes

• The next 2 columns will always be blank

• BOOKNUM - Always the number "1000"

• DESCRIPTION - The name of the general ledger account (e.g. Rental Revenue, Credit Card - VISA)