ERP Property Management

Overview of the The Property Management ERP Property Modules is designed as a property database for organizations with large property management portfolios. This paper is to provide an overview of the ERP Property Modules describing its features and functionality. Using this structured database users can manage space allocations within their portfolio for both employees and/or customers. Customers’ space can be charged via an interface to the Accounts Receivable package or invoices for rent can be generated and interfaced to the Accounts Payable ERP Property Modules. The database will hold various types of data including, features, contacts, tenancies, lease and other documentation such as insurances, rights, obligations and milestones. The ERP Property Modules also has the standard Fields functionality as in other ERP ERP Property Modules for the capture of user-defined data. Property Definition The database of properties has an inbuilt hierarchy starting at the top by grouping properties within regions and office parks. A property is then defined as a combination of land detail and building detail. Property Definition Land can be subdivided into parcels. Land details include area, conditions and features that can be recorded against each land or parcel record. The use of Fields would allow for the recording of asset numbers, title details, etc. Building Detail Building details can include address, tenure, user defined class and status. Additional details include rentable, useable and assignable area, occupancy area, features and contacts. Buildings can be further subdivided into floors, and again into offices with the same level of detail being recorded against each individual record at each level. Assignments Properties can be assigned to either employees or customers at any of the levels described above. With each of these assignments, cost centers or GL codes can be associated for revenue or costing purposes. The facility to record Project/Task/Organization data has also been provided. The system provides statistical information on the assignments and total occupancy at the building, floor and office levels. Query screens are provided to enquire on the assignment data at each of the levels. Space Assignments Space Assignment can be associated with each building floor or office. The details of these documents can be recorded and may form the basis for either billing customers through Accounts Receivable or the payment of rent through Accounts Payable. Recurring invoices for either Accounts Receivable or Accounts Payable can be constructed within this ERP Property Modules and after approval, interfaced directly to the other ERP Property Modules. This approval can be into the future. Detail in these Contacts, Locations, Insurances, Rights, Obligations, Options, Billings and Notes. There is a facility to record milestones which will generate notifications to responsible officers so they can be notified of specific occurrences with lead times set by the user. Lease Details Using the details from Lease Documents the system will generate individual entries for export to Accounts Payable and Accounts Receivable. Each entry is created as a draft and must be approved prior to export. Details of these entries are maintained in Property Manager. Agents The system also maintains a list of agents or contacts related to each property. These contacts can be used throughout the ERP Property Modules. They are divided into Customers, Suppliers and Employees. Using the standard integration of ERP Applications, these contacts are maintained in their respective ERP Property Modules. A contact role is available for allocation throughout the Property ERP Property Modules. Reports Standard reports with the system are divided into Space, Rent, Employee, Lease and other reports. The system has some standard reports Specific reports based on client needs will require the use of other reporting tool. The ERP Property Modules also has facilities to import and export data to models for space allocations and locations. In General The ERP Property Modules can be interfaced to both the Accounts Payable and Accounts Receivable The ERP Property Modules is not used for maintenance cost recording however, property numbers could be referenced in Accounts Payable using Fields for the creation of a property cost reporting mechanism. Our client uses the system as a Property Register, which records all possible information about a property. Security suppliers, cleaning suppliers, landlords, insurances, renewal dates, etc. Can all be recorded and found quickly. The major benefit from the system is the billing of rent to customers. Our client is a Water and Power utility that rents space for communications towers on various infrastructure assets. Tracking all the rent invoices on a monthly basis was completed using spreadsheet. The ERP Property Modules allows for the tracking of what has or has not been billed and in conjunction with the Accounts Receivable what has or has not been paid. About the Author Peter has been a qualified Chartered Accountant for more years and is currently the principal functional consultant.