On my monthly statement, what does the "Ending Bank Balance" mean? - Powered by Kayako SupportSuite Help Desk Software

06 Sep 2010

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	On my monthly statement, what does the "Ending Bank Balance" mean?

Article On your monthly financial statement, 'Ending Bank Balance' is the total of any security deposits we have on file as well as any amount of money that is owed you, the client.

For example. Let's say a property has a $1,000 security deposit on file for a tenant. The ending bank balance would show up as $1,000. If we then received $1,000 in rent on your property, the bank balance would balloon to $2,000.    The difference between the "ending bank balance" and the 'security deposit held" is what we owe you, the client. In this case, it would be $2,000-$1,000 = $1,000 owed to you as rent received.

If you see an ending bank balance that shows up with a number that is less then the security deposit held on file, this means that you, the owner, owes our management company money. This difference would then be taken out of rents received the next time we receive rent.

For an example: Security deposit is $1,000. We paid $200 for repairs to your property. The "ending bank balance" would then be $1,000-$200 = $800.   Lets say we receive $1,000 in rent. We would then owe you $800, the $1,000 in rents received - the $200 expense we incurred.

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22 Dec 2008 8:29 PM