Journal Entries Procedure

Journal Entries


1. Draw Fundings

Review the Funding Sources procedures for handling of draw fundings on various types of projects.

A. Notification. When a draw is funded, Cash Management will e-mail notification of receipt of funds. Attached to the e-mail message will be a .pdf file of the bank statement reflecting the wire transfer and description. The confirmation e-mail and its attachment are used as supporting documentation for the journal entries to record the funding. The draw funding should be recorded as soon as possible after receipt of notification and no later than the last day of the month in which it was received.

B. Record the Draw Funding. Except for the types of projects which require special handling as described in the Funding Sources procedures, Redevelopment is typically responsible for preparing both Yardi (Operations) and Timberline (Redevelopment) journal entries to record draw fundings. Both JEs are required to record the draw funding.
1) The General Ledger Clearing Account. In both locations, draw fundings always affect the development clearing account. Note the clearing account numbers:
a) Timberline: 295.9999 = Development Clearing
b) Yardi: 2890-0950 = Clearing-General Development

2) Determine the second GL account affected by a draw funding varies by project depending on funding sources. To ascertain the second account to be used, you may ask the Project Accountant. You may also review transactions for past draw fundings. How:
a) Enter Yardi through the Fairfield main portal.
b) Select “Executive Reports” from the menu bar at top left.
c) In the Property box, enter the company number and click the Display button.
d) In the Period box, enter the date range.
e) Since the clearing account is a constant, you can review past GL transactions in the 2890-0950 account for the project for an idea of what was done previously. Find the clearing account and click the dollar amount which is also a link.
f) Yardi displays the 2890-0950 GL transactions for the year. At right under Remarks, locate a draw funding transaction. The Control column is located near the center of the report. Click on the control number which is a link. Yardi displays the details of the transaction, including which two accounts were used to record the prior draw funding.
3) Verify that the draw funding has actually hit the operations account by viewing the Operations account current balance. How:
a) In Yardi, click the Reports folder at left.
b) Select Bank Reports, then Bank Account Summary (FF) from the drop-down menu.
c) The Ops bank account is identified as op01. Fill in the Ops bank account number in the Bank box.
d) Fill the company number in the Property box.
e) Click Submit and print the report.
4) Create the Yardi JE. How:
a) Verify the draw funding JE has been recorded by comparing the Yardi and Timberline clearing accounts, whose totals should match.
b) On the Yardi Home page under the G/L heading. Select “Create Journal Entry Batch.”
c) The Batch Journal Entry page displays. The Batch Description box defaults to user name, date and time.
d) In the Notes box, enter “Dw. Funding.”
e) In the Total of Journal Entries box, enter the draw funding amount.
f) In the Number of Journal Entries box, enter “1.”
g) In the Properties box, enter the company number.
h) Click the “Submit” button.

i) The Journal Entry page displays.
j) In the Entity box, enter the company number.
k) The Book box defaults to “Both.”
l) In the Reference box, enter “RD.”
m) In the Date box, enter the date the draw funding was received. The date should be the same as that which is shown on the bank statement attachment to the Cash Management e-mail notification.
n) In the Post Month box, enter the current month and year.
o) In the Source box, enter “RD.”
p) The Owner box is not required and may be left blank.
q) In the Account boxes of the entry, Enter the Yardi G/L clearing (debit) and second (credit) account numbers.
r) In the Remarks boxes of the entry, enter “Draw Funding #.”
s) In the Debit and Credit boxes of the entry, enter the draw funding amount in the appropriate columns.
t) At the bottom of the page in the Notes box, enter “Draw funding received from .”
u) Note the unposted batch number which appears in the upper right of the JE and is a link.
v) Click the “Save” button.

w) Return to the Yardi Home page to print the JE.
x) Under the Reports heading, select “W. Journal Report (FF).”
y) The FF Journal Entry page displays. In the Property box, the current company number should be displayed. If it is not, type in the correct company number.
z) In the Batch Number box, enter the batch number.
aa) Click the “Submit” button.

bb) The printable version of the JE is displayed. Check the JE for accuracy. Return to the Home page and select “Edit Journal Entry” under the G/L heading to make any necessary modifications and re-save the JE.
cc) When the JE is correct, print it.
5) Create the Timberline JE. How:

Open the project file on the G drive:


v G:\Accounting\Acct-rd\Projects\Open Projects\\Completion\B. Project Completion



G:\Accounting\Acct-rd\Projects\Open Projects\\Forms



C. JE supporting documentation includes the following items, which should be attached:
1) Yardi Year-to-Date General Ledger for the General Clearing Development account.
2) Yardi Year-to-Date General Ledger for the second account.
3) Timberline Year-to-Date General Ledger for the Development Clearing account.
4) Timberline Year-to-Date General Ledger for the Redevelopment Construction Checking Account.
5) Cash Management e-mail and its bank statement attachment.

v G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\Journal Entries\ JC Entry Template

A. Create the Timberline JE. How:

1) The Timberline form is an Excel spreadsheet which is located in the project file on the G drive:
v G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\ TL Wire and Journal Entry Template

a) Open the Excel spreadsheet.
b) A message box pops up which indicates the workbook contains links to other data sources. Click the “Don’t Update” button.
c) Review the project information on the template for accuracy. Do not make changes to the template.
d) Wire transfers FROM Ops TO Dev should show “Post Only” in the upper right corner of the JE form. Wire transfers FROM Dev TO Ops (Repays) should show “Wire” in the upper right corner of the form.
e) Right-click the tab at the bottom of the workbook and select “Move or Copy” to generate a duplicate of the template.
f) Rename the duplicate with today’s date by right-clicking its tab and selecting “Rename.”
g) In the Account Number column, enter the GL code(s) affected by the transaction.
h) In the Account Name column, enter the account name as listed in Timberline.
i) In the Description column, enter “Transfer—Advance from Ops to Dev.”
j) In the Amount column, enter the amount.
k) In the Explanation space at the bottom of the page, enter a detailed description of the transaction. You may include the reason for the transaction and more details.
l) Complete the “Prepared By” and “Date” sections.
m) Save the journal entry and print it.
n) Initial the JE and submit it for review.
o) The approved JE is routed to the Administrative Assistant, who further processes it for posting.

E. JE supporting documentation includes the following items, which should be attached:
1) Timberline Year-to-Date General Ledger for the Development Clearing account.
2) Timberline Year-to-Date General Ledger for the Redevelopment Construction Checking Account.
3) Yardi Year-to-Date General Ledger for the General Clearing Development account.
4) Yardi Year-to-Date General Ledger for the second account.
5) Cash Analysis showing invoices due which cannot be covered.
6) Copy of AM’s approval e-mail.


2. Wire Transfers

Sometimes there is not enough cash within the Redevelopment checking account to cover invoices which are due to be paid. In this event, an advance can be requested from Operations to cover the costs temporarily. Note that on tax credit projects, an advance is requested from Corporate.

A transaction of this type must be recorded in both Yardi and Timberline. Redevelopment is responsible for preparing both transactions.

A. Verify the Redevelopment and Operations account balances to ascertain whether funds are available for the advance. How:
1) For Operations account, in Yardi, click the Reports folder at left.
2) Select Bank Reports, then Bank Account Summary (FF) from the drop-down menu.
3) The Ops bank account is identified as op01. Fill in the Ops bank account number in the Bank box.
4) Fill the company number in the Property box.
5) Click Submit and print the report.


B. E-mail the Asset Manager to request approval for the advance request. Explain why the advance is needed:
1) List which invoices are due to be paid but cannot be covered.
2) Current Redev cash account balance. How:
a) Enter the Timberline Cash Management module.
b) Select “Inquiry” and “Bank Register” from the drop-down menus.
c) Click “OK.”
d) Locate the project’s Redevelopment Construction account. The far-right column shows the current Register Balance.
4) Current Ops cash account balance. See 1.B.3 above for how.
5) Identify when the advance will be repaid.

C. Determine the GL accounts affected. Redevelopment is responsible for preparing both Yardi (Operations) and Timberline (Redevelopment) journal entries. Both JEs are required to record the wire transfer. The accounts affected typically are as follows:
1) Yardi: 1190-001 = A/R-Due/To From Development (Debit – Wire Out)
2) Yardi: 101.2211 = Cash-Operating 1 (Credit – Wire Out)
3) Timberline: = 119.0002 Cash Advances (Op & Dev) (Credit – Wire In)
4) Timberline: = 101.2211 Checking (Const) (Debit – Wire In)

D. Prepare the Yardi Wire Transfer and Timberline JE (Ops to Dev). The Cash Management deadline for wire transfer processing is 11:00 AM. In order ensure that the transaction takes place the same day as the JEs, submit the approved wire transfer JEs to the Administrative Assistant by 10:30 AM.
2) The Yardi form is an Excel spreadsheet which is located in the project file on the G drive:
v G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\ Yardi Wire Xfr



3) The Timberline form is an Excel spreadsheet which is also located in the project file on the G drive:
v G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\ TL Wire and Journal Entry Template

p) Open the Excel spreadsheet.
q) A message box pops up which indicates the workbook contains links to other data sources. Click the “Don’t Update” button.
r) Review the project information on the template for accuracy. Do not make changes to the template.
s) Wire transfers FROM Ops TO Dev should show “Post Only” in the upper right corner of the JE form. Wire transfers FROM Dev TO Ops (Repays) should show “Wire” in the upper right corner of the form.
t) Right-click the tab at the bottom of the workbook and select “Move or Copy” to generate a duplicate of the template.
u) Rename the duplicate with today’s date by right-clicking its tab and selecting “Rename.”
v) In the Account Number column, enter the GL code(s) affected by the transaction.
w) In the Account Name column, enter the account name as listed in Timberline.
x) In the Description column, enter “Transfer—Advance from Ops to Dev.”
y) In the Amount column, enter the amount.
z) In the Explanation space at the bottom of the page, enter a detailed description of the transaction. You may include the reason for the transaction and more details.
aa) Complete the “Prepared By” and “Date” sections.
bb) Save the journal entry and print it.
cc) Initial the JE and submit it for review.
dd) The approved JE is routed to the Administrative Assistant, who further processes it for posting.

E. JE supporting documentation includes the following items, which should be attached:
7) Timberline Year-to-Date General Ledger for the Development Clearing account.
8) Timberline Year-to-Date General Ledger for the Redevelopment Construction Checking Account.
9) Yardi Year-to-Date General Ledger for the General Clearing Development account.
10) Yardi Year-to-Date General Ledger for the second account.
11) Cash Analysis showing invoices due which cannot be covered.
12) Copy of AM’s approval e-mail.

F. Prepare the Repay Yardi Wire Transfer and Timberline JE (Dev to Op). Once positive cash flow has been restored to the Redev cash account, repay the advance. Use the same form and procedures as in 2.E - G above. Note the following for the repay wire transfer:
1) The debit and credit are reversed.
2) The description should indicate it is a repay.
3) The form must state “Wire” in the upper right corner.


3. Direct Costs

Some circumstances necessitate changes to hard costs which cannot be handled by a simple invoice. Under such circumstances, a journal entry is needed. One example is a cost that needs to be re-classed from one cost code to another. Another example is the recording of a vendor’s refund check. JEs of this type are recorded as direct cost entries in Timberline only. The Direct Cost Entry form is an Excel spreadsheet located in the project file on the G drive:

v G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\Journal Entries\ JC Entry Template

B. Create the Timberline Direct Cost journal entry. How:
1) Open the Excel spreadsheet.
2) A message box pops up which indicates the workbook contains links to other data sources. Click the “Don’t Update” button.
3) Review the project information on the template for accuracy. Do not make changes to the template.
4) Right-click the tab at the bottom of the workbook and select “Move or Copy” to generate a duplicate of the template.
5) Rename the duplicate with today’s date by right-clicking its tab and selecting “Rename.”
6) In the Cost Code column, enter the Job Cost code(s) affected by the transaction.
7) In the Description column, enter the Job Cost description.
8) In the Amount column, enter the the amount(s).
9) In the Explanation space at the bottom of the page, enter a detailed description of the transaction. You may include the reason for the transaction and more details.
10) Complete the “Prepared By” and “Date” sections.
11) Save the journal entry and print it.
12) Initial the JE and submit it for review.
13) The approved JE is routed to the Administrative Assistant, who will post it to Timberline.

C. JE supporting documentation includes the following items, which should be attached:
1) Timberline Job Cost Detail Report displaying the affected cost code(s).
2) Timberline Year-to-Date General Ledger for the Redevelopment Construction Checking Account.
3) Timberline Year-to-Date General Ledger for the Development Clearing account.
4) Timberline Cash Analysis Report displaying the transaction when it applies to a refund check.
5) Copy of the refund check when the transaction is to record one.
6) Initial the JE and submit it for review.
7) The approved JE is routed to the Administrative Assistant, who will post it to Timberline.


4. Journal Entries to Record Deposit Checks

A. Record an insurance claim payment (including a partial advance on a claim not settled yet) to be deposited into Redev checking (not Ops) because Redev is incurring costs relating to the claim, not Ops. Although costs incurred directly relating to the claim may be recorded in job cost, we do not want the insurance payment to hit job cost because it will negate the costs and we will be unable to draw for them. The transaction must be recorded in Timberline & Yardi. How:

1) TL DB: 101.2211 (Redev Const. Checking)
2) TL CR: 295.9999 (Development Clearing)
3) Yardi DB: 2890-0950 (Clearing – General Development)
4) Yardi CR: 1180-1065 (A/R – Insurance)
5) Attach a copy of the check.
6) Record the TL GL account number for Redev Const. Checking above the magnetic numbers at the bottom of the check.

B. Record a vendor’s check for a refund to be deposited in to Redev checking. Because the refund check reverses a previous invoice transaction from the vendor, it is a direct cost entry and it must be shown as a negative to offset the positive that exists in job cost. The transaction is recorded in Timberline only. How:

1) TL DB: 140. (CWIP)
2) TL CR: 295.9999 (Development Clearing)
3) Attach a copy of the TL Job Cost Detail report showing the cost code involved and the original transaction that is being negated.
4) Attach a copy of the check.
5) Record the TL GL account number for Redev Const. Checking above the magnetic numbers at the bottom of the check.

Funding Sources Procedure

Funding Sources


1. Handling Projects with Different Funding Sources

Projects vary in many ways, including their source(s) of funding. For informational details on the project’s deal and its funding sources, review the documents in the project’s Acquisition folder. Described below are different types of projects and how they are processed when they are funded:

A. Administered by Corporate Accounting. Bouwfonds projects are an example of projects administered by Corporate. On this type of project, draw funding journal entries are prepared and recorded by Corporate, not Redevelopment. Redevelopment’s responsibility on this type of project is to inform Corporate of its requirements through a capital call request for the amount of the draw. To make a Bouwfonds capital call request, update the Sharepoint Fund Reporting site when the draw has been posted. How:
1) Enter the Fairfield main portal.
2) Under Western Division, Accounting/Finance, click the “Fund Reporting” link.
3) Click the “Bouwfonds” link in the Fund Sites menu.
4) Click the “Fairfield Documents” link in the Documents menu.
5) Double-click the “Current” folder in the Equity Funding Requests menu.
6) Click the down arrow key to the right of the “Bouwfonds Capital Call Request ” Excel spreadsheet.
7) Select “Edit in Microsoft Office Excel.”
8) A message box pops up indicating that you must check out the item before making changes. Click OK and OK again.
9) Locate the project and enter the total draw amount in the Redevelopment Accounting Request column.
10) When updating is complete, save the file and check the item back in.
11) Bouwfonds capital call requests must be submitted to Operations by the 15th of each month. Corporate generates a new spreadsheet around the 10th of each month and sends an e-mail when the new spreadsheet is available. It is important to remember to update the spreadsheet, particularly with draws that were posted after the prior month’s capital call submission date.

B. Pre-funded through quarterly capital calls. This type of project is similar to the above type. It differs from the above in that a quarterly capital call request will amount to enough to fund a full quarter of draw activity before another request is submitted. Coordinate with the Asset Manager, who determines the amount of the quarterly capital call.

Only the quarterly capital call amount is recorded and administered by Corporate as above. However, Redevelopment prepares monthly informational draws. The totals of these draws, which occur subsequent to the capital call, are not recorded as their source is the quarterly capital call request. To track individual draws on this type of project, the draw is classified as “Pre-funded” on the Sharepoint Redevelopment Accounting site. How:
1) Enter the Fairfield main portal.
2) Under Western Division, Accounting/Finance, click the “Redev Acct” link.
3) Click the “Draws” link in the Lists menu. It takes a moment to load.
4) Locate the project under the appropriate Draw Status subdirectory. At this point, it should be located under “5 Controller Approved.”
5) Click the drop-down arrow next to the draw number and select “Edit Item.”
6) The Administrative Assistant is responsible for updating the draw fundings after the confirmation e-mail has been received and will add a note to the file such as “fully funded.”
7) The Project Accountant is responsible to update the rest of the information regarding the draw funding.
a) Next to “Funding Received,” Fill in the funding amount.
b) Next to “Funding Date - Complete,” Enter the funding date.
c) Next to “CA Status,” click the drop-down arrow and select “NA – Pre-funded” or select another item appropriate for the status of the project.
d) When the project requires journal entries, also update the “JE Status” by clicking the drop-down arrow and making the appropriate selection.
8) Click “OK” to complete the status update.

C. Subscription financing. CalSTRS projects are an example of subscription financing. A subscription is a low-interest loan obtained for a limited period such as 10 months. Note that construction may not necessarily be completed within the subscription period. After the subscription period is complete, the percentage rate on the loan increases. Refer to the escrow closing document in the project’s Acquisition folder for the project’s specific interest rates.

The funding source on subscription-financed projects is the financing facility at 100 percent, including retention. Therefore, when the project approaches the end of the subscription period, retention should be carefully reviewed to be sure it has all been drawn before the last (10th) draw within the subscription period. Draw fundings for subscription projects are handled thorough the typical journal entry process.

Final Management Fee Procedure

Payment of Final Management Fee on a Sold Property


1. Print the Sales Analysis

When a property is about to be sold, a sales analysis is generated. The sales analysis document is located at:

 G:\Accounting\Acct-rd\Projects\Open Projects\\Completion\B. Project Completion

Several versions of the sales analysis may exist, but there is only one final version. Be sure to select the final (and probably most current) version of the sales analysis. It should contain the Controller’s signature and date and should be in the form of a .pdf file. Draft versions are most likely in the form of an Excel spreadsheet and should not be relied on to contain complete data. If you cannot find a sales analysis with a signature or if you cannot locate the sales analysis, ask the Redevelopment Controller for the original, which should then be scanned and saved to the above location.


2. Identify the Sales Reserve

The sales reserve is located in the Sources section of the sales analysis. It is the amount determined to be required to cover Redev costs anticipated in closing out the project. Note that sales proceeds will initially be received by Operations. But as the sales reserve is for Redev’s use in closing out the project, the reserve must then be transferred from Ops to Dev. The transfer is initiated by Redev in the form of a Yardi wire transfer, which Ops will process.


3. Initiate the Wire Transfer from Operations to Redevelopment

A. Verify that Ops has received the sales proceeds. Print the Yardi Year-to-Date GL report for the Ops cash account and identify the GL transaction which shows Ops has received the sales proceeds funds. How:

1) In Yardi, click Home on the menu bar.
2) Under the Reports heading, select General Ledger.
3) Fill the company number in the Property Box.
4) Choose Cash from the Books box.
5) Fill in beginning and ending months.
6) Fill in From and To accounts.
7) Submit and print the report.
8) Locate the sales proceeds receipt transaction.

B. Verify the Ops cash account currently contains enough cash to cover the sales reserve transfer to Dev. Print the Yardi Bank Account Summary. How:

1) In Yardi, click the Reports folder at left.
2) Select Bank Reports, then Bank Account Summary (FF) from the drop-down menu.
3) The Ops bank account is identified as op01. Fill in the Ops bank account number in the Bank box.
4) Fill the company number in the Property box.
5) Click Submit and print the report.

If the Ops cash account does not contain enough cash to cover the sales reserve, it has likely been transferred by Ops to an different (most likely interest-bearing) account. Contact the staff accountant to determine where the funds are currently held. Request that the funds be transferred to the Ops cash account. When the funds have been transferred, proceed with the sales reserve wire transfer.

C. Prepare the Yardi wire transfer document. How:

The form is an Excel spreadsheet located at:

 G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\Yardi Wire Form

1) Upon opening the form, a Microsoft Visual Basic message box pops up with a Run-time error. Click End.
2) Click the “Wireform” tab at the bottom of the workbook and copy/save a new document with the current date.
3) Beginning in the “Sender Information” portion in the left top portion of the form, enter the Ops Bank Acct. Code by clicking the down arrow key and selecting the Ops cash account number. The form auto-fills the rest of the bank information in the Sender Information section.
4) Fill in the Wire Amount (Sales reserve from the sales analysis).
5) Fill in the Date to be Wired.
6) Fill in the Cash Balance, which is the total from the Yardi Bank Account Summary.
7) In the “Receiver Information” portion of the form, fill in the Redev bank account information.
8) In the Reference box, fill in the Timberline GL account number for the Redev Checking – Construction Account and “(Internal Transfer).”
9) In “Section II – Accounting Journal Entry,” Column 1, Account #, Fill in the Yardi GL account numbers to transfer the sales reserve funds from Ops to Dev. Column 2, Account Name, will be auto-filled.
a) ####-#### = (Credit)
b) 2890-0950 = Clearing-General Development (Debit)

10) In Column 3, Remarks, fill in “Xfr Ops to Dev – Sales Reserve.”
11) In Notes, fill in “Xfr Ops to Dev – Sales Reserve.”
12) In Prepared By, fill in your name and the date.
13) Print the form and attach the supporting documentation:
a) Yardi YTD GL report
b) Yardi Bank Account Summary
c) Sales Analysis

D. Prepare the corresponding Timberline journal entry. This JE will record the receipt of sales reserve funds by Redev from Ops. How:

The form is an Excel spreadsheet located at:

 G:\Accounting\Acct-rd\Projects\Open Projects\\Forms\TL Wire and Journal Entry Template

1) Upon opening, a Microsoft Excel message box pops up with links to other data sources. Click Don’t Update.
2) Click the “WT Advance” tab at the bottom of the workbook and copy/save a new document with the current date.
3) Fill in the date at the right top portion of the form.
4) Fill in the Timberline account numbers to receive the transfer of sales reserve funds from Ops to Dev.
a) ###-#### = Checking - Construction (Debit)
b) 295-9999 = Clearing-Redevelopment (Credit)

5) Fill the amount of the sales reserve funds in appropriate columns.
6) In the Explanation section, fill in “Xfr Ops to Dev – Sales Reserve.”
7) In Prepared By, fill in your name and the date.
8) Print the form and attach the supporting documentation:
a) Yardi YTD GL report
b) Yardi Bank Account Summary
c) Sales Analysis

E. Submit both Yardi wire transfer and Timberline funds receipt journal entries to the Redev Controller for approval. The Redev-approved journal entries are then delivered to the Administrative Assistant for further processing:

1) The Redev-approved wire transfer also requires approval of the Ops Controller (Jennifer LaChance).
2) The fully approved wire transfer must be delivered to Cash Management (Shiloh King) for processing.
3) The wire transfer must reach Cash Management no later than 11:30 AM in order for the transfer to take place the same day.

F. Confirm that the sales reserve funds have been transferred in the Redev. checking account.

Final Vouchers for G & A and Salaries: Run BSR and calculate difference between Current Budget (Col. C) less JTD Cost (Col. H).

4. Prepare the Final Management Fee Voucher

A. Run the Timberline Contract Status Report for the management fee commitment. The commitment Number = 998.

B. Run the Timberline Job Cost Detail Report. Condition the report for the management fee cost code (78-90). How:

1) In the Timberline Job Cost Detail Report – Print Selection Box, choose “Conditions.”
2) In the “Add Condition” box, select “Cost Code” in the “Field” section.
3) Click “Equal to” in the “Operator” section.
4) Fill in “78-90” in the “Value” section.
5) Click OK and run the Job Cost Detail report.


C. Verify that the open balances of both Timberline reports and the sales analysis tie. If they do not, determine whether all management fees have been applied to the commitment or if any have been applied as NAs. To correct the commitment, management fees which have not hit the commitment must be re-applied via voucher edit(s).

D. Prepare the final management fee voucher. How:

The form is an Excel spreadsheet located at:

 G:\Accounting\Acct-rd\Projects\Open Projects\\Completion\B. Project Completion\Redev Final Contractors Fee

1) In the upper right corner of the form, Invoice No., fill in “A.Final.”
2) Fill in the Invoice Date.
3) In Check Amount fill in the open balance of the fee commitment.
4) Fill in Payment Date.
5) In Commitment, fill in “998.”
6) In Transaction Description and amount, fill in “Contractor’s Fee – Final.”
a) Open balance of the fee commitment from Timberline reports and sales analysis.

7) In Special Instructions, fill in “Final Contractor’s Fee.”
8) In Prepared By, fill in your name and the date.
9) Print the form and attach supporting documentation:
a) Timberline Contract Status report
b) Timberline Job Cost Detail report
c) Sales Analysis.

E. Process the final management fee voucher for payment.

1) Route the voucher to the Redev Controller for approval.
2) The approved voucher is routed to Accounts Payable Coordinator for scanning and processing.
3) The APC enters the voucher into CIS and routes it to the PA for review.
4) The PA reviews and approves the voucher in CIS. It is routed back to the APC.
5) The APC scrapes the voucher into Timberline.
6) The final management fee voucher that has been scraped into Timberline is ready to be paid.

Cash Analysis Procedure

Cash Analysis


1. Print the Timberline Cash Analysis Report

A cash analysis is performed in order to select invoices for payment. Cash analyses are performed for invoices to be paid on a weekly basis and when draws have funded. Timberline reports each require several minutes to download. Be sure to allow enough time to run the reports, perform the cash analysis and meet the deadline. The deadline for submitting cash analyses is 2:30 PM daily.

A. Enter the Timberline Accounts Payable module.
B. From the menu bar, select “Reports,” then “Circulated Reports” and “Cnst Invoices w/Cut-off Date” from the drop-down menus.
C. Enter the Company number + Job number.
D. Select “Start” to send the document directly to print or select “Print Preview” if you wish to view it on your screen first.


2. Review the Report

Decide which invoices to pay. How:

A. Review the AP Trade Balance located in the upper right corner of the form. This is the total of open invoices listed on the report.
B. Review the AP Retention Balance, especially if paying retention. Retention does not show as a separate line item. See the Retention column of the original invoice number for retention balances.
C. Review the CM Register Balance. This is the current amount of funds available in the cash account. Maintained the cash account of a current project with no less than $10,000. Consider whether an advance is required in order to maintain an appropriate account balance when selecting weekly invoices for payment before the next draw funding is received.
D. Choose invoices to be paid.


3. Approve Invoices for Payment

A. From the menu bar, select “Tasks,” then “Approve Invoices” from the drop-down menu.
B. Click the “Job” button.
C. Select “Ranges” and type the Company number. Highlight by clicking on it with the mouse or pressing the Enter key. Click “OK” and “Start.”
D. Open invoices display. Choose invoices to pay and Click “Approve.” Click “OK” and “Close” when finished.


4. Print the Timberline “RFP Review-Prop” Report

A. From the menu bar, select “Reports,” then “Circulated Reports” and “RFP Review-Prop” from the drop-down menus.
B. Enter the Company number.
C. Select “Print Preview.” It is not necessary to print this report, which takes several minutes to upload to your screen.
D. Double-click the total in the Accounts Payable Amount column. The report displays invoices that have been approved for payment in step 3 above. An Adobe .pdf icon should be present for all invoices. It signifies that the invoice has been scanned, and that it exists in CIS as well as Timberline. If the .pdf icon is not present for an invoice, see the project’s Accounts Payable Coordinator to determine why.
E. Print the report.


5. Compare the Cash Analysis and “RFP Review-Prop” Reports

The “Balance Minus Retention” total of the Cash Analysis report should match the “Approved Amount” total of the RFP Review report. Provide an explanation for any variance that may occur between the two reports. The explanation should accompany the Request for Payment when it is submitted for approval.


6. Print the Timberline “Request for Payment – Job” Report

A. From the menu bar, select “Reports,” then “Circulated Reports” and “Request for Payment - Job” from the drop-down menus.
B. Enter the Company number + Job number.
C. Select “Start” to send the document directly to print or select “Print Preview” if you wish to view it on your screen first.
D. Check the total. It should be the same as on the other two reports.


7. Submit the Request for Payment

A. Sign and date the Request for Payment. Indicate whether the Request for Payment is for weeklies or for a draw funding.
B. Perform a draw funding reconciliation to account for all invoices which were included in the draw if the Request for Payment corresponds with a draw funding. The reconciliation is located in the draw workbook. It should accompany the Request for Payment, as well as a copy of the confirmation e-mail of the draw funding.
C. Attach the Timberline Cash Analysis and the RFP Review-Prop reports.
D. Submit cash analyses to the Administrative Assistant for further processing by 2:30 PM.

Sunday, 01/06/08

Today is the first Sunday of 2008. Last week didn't really seem like the first week of the new year--it sort of still felt like part of the whirlwind that is everyholiday season--as always, my least favorite time of the year--as always, I sure am glad that's over.





So it's time to take stock--time to look back and look forward, time start fresh.



What am I thankful for? I am thrilled to be back in San Diego, in spite of the challenges before me. After my time away, like Dorothy in the Wizard of Oz, I'm glad to be home again. I am thankful for my health. Good health is a gift to be guarded and taken care of. I will do better this year. I'm thankful for my life. We're all prone to grumbling about the bad things, but I know that I'm much better off than probably 9/10ths of the world. I'm very fortunate. I am thankful to have a good job, a roof over my head, enough to eat, and people who care about me. I will try harder not to take any of these things for granted.





What didn't I do so well last year? Well, let's see: I spent too much money. Didn't exercise enough. Spent too much time at work and not enough time developing other interests. Starting today, I will try to do better.





What do I want to do with my life this year? I want to get my debt under control. I want to exercise more. I want to develop more interests than just work. I want to clean out that storage room and see just how much stuff I didn't remember I even had.