Adding a Property | Sage Intacct Real Estate Help Center

To manage a property within Sage Intacct, the property must be added to the system. Doing so is a simple, straightforward process. Please complete the following.

Adding a Property to Sage Intacct Real Estate

Go to Applications and select Real Estate > Real Estate > Real Estate to navigate the nested menus and reach the Real Estate Module.
2. Navigate to Properties from the Main Menu by selecting Setup > Properties

To begin adding a new property, click Add.

Completing Required Information for New Properties

You will be brought to the window with a number of tabs and additional form fields to record important relevant information related to your property. This guide will go through each tab to help users navigate this process.

Complete the General Tab

The General tab is divided into five sections: Location, Status, Occupancy, Vacancy, and Straight Line Rent. These sections include a mix of required and options fields.

Navigate to the Property Location section. There you will find two different subsections for New Properties as well as properties already recorded in Sage Intacct.
1. For a New Property enter the following information.
  1. Enter an ID for the property in Property ID.
  2. Enter the name of the property in Property Name.
  3. Enter or select the Intacct Entity the property posts to.
2. For a location that already exists in Sage Intacct, find the From Intacct subsection and complete the following fields.
  1. Use the tool to search for the property or location in the Sage Intacct system.

Next, navigate to the Status section.
1. Complete the Required Fields.
  1. Select a Property Type from the dropdown menu.
  2. Use the calendar tool to enter the last date that charges were generated for this property.
2. Complete the Optional Fields as necessary.
  1. Indicate the interest rate by noting a percentage in the Current Interest Paid field.
  2. Note whether the transactions are posted to the Property or Entity level using the Transaction Posting By field.
  3. Use the calendar tool to enter the last date that late charges were generated for this property.

Navigate to the Occupancy Section. All fields in this section are required.
1. Note whether the property is leased or occupied in the Occupied Basis field.
2. Choose a Proration Method, whether a 30-day, monthly, or other frequency.
3. List a Start Date using the calendar tool which can indicate the actual move-in date or the lease start date.
4. List a Stop Date using the calendar tool which can indicate the actual move-out date or the lease termination date.

Navigate to the Vacancy Loss section. All fields in this section are optional, though we encourage their use.
1. Tick the Track Vacancy Loss checkbox to turn on Vacancy Loss Tracking.
2. Note the Current Rent or Market Rent.
3. Choose a Proration Method, whether a 30-day, monthly, or other frequency.
4. Select whether Sage Intacct should round to the nearest dollar or use exact figures.
5. Indicate a vacancy Loss by selecting the Vacancy Loss GL Account. Note that the GL account must first exist in the General Ledger.
6. Select the Gross Potential Rent Account. Note that the GL account must first exist in the General Ledger.

Navigate to the Straight Line Rent Section. All fields in this section are optional, though we encourage their use.
1. Select the Deferred Revenue Account. Note that the GL account must first exist in the General Ledger.
2. Select the Revenue Account. Note that the GL account must first exist in the General Ledger.

Complete the Address Tab

The address tab is essential information, but it is very simple to complete. Fill out the web form listing the address information of the property. At least one address must be included in this tab.

Navigate to the Addresses Tab.
Add a Contact from Sage Intacct by typing the name of the existing contact in the Contact from Intacct field. Then, select Contact from the dropdown menu.
Add a new address by clicking + Add new and completing all required fields. Fields include:
1. Address Type
2. Address 1
3. Address 2
4. Country
5. City
6. State
7. Zip/Postal Code
Next, provide contact information for the Contact from Intacct. Fields include:
1. Contact Name
2. Contact Phone
3. Contact Email
Repeat as needed for all addresses and contacts.

Complete the Square Footage Tab

Sage Intacct allows users to document the square footage of a property or unit. To do so, please complete the following steps:

Navigate to the Square Footage Tab.
Click + Add new to create a new entry. This will generate a web form with the required fields, including:
1. Choose a Square Footage Type from the dropdown menu.
2. Indicate the price per square foot using the Value field.
3. Timestamp these measurements and values using the As of Date calendar tool.
  iii. As of Date.
Repeat as needed for all addresses.

Complete the Charge Controls Tab

The Charge Controls tab enables users to enable or disable factors that will influence various costs and fees used by other tools within Sage Intacct. Complete the following:

Navigate to the Charge Controls Tab.
Tick all applicable boxes.
1. Base Rent
2. Subject to Management Fees
3. Subject to Late Charges
Click + Add new to create another new entry. This will generate a second with checkbox options. Repeat as necessary.

Complete Optional Tabs as Needed

In addition to the tabs above, there are several optional tabs that do not need to be completed for the new property to be successfully added to Sage Intacct. That said, please review the optional tabs and add any information that may be valuable.

Navigate to the Deposits Tab which can be used to track security deposits.
1. Click + Add new to create a new entry.
2. Select a deposit type from the dropdown menu under Type.
3. If the deposit is refundable, tick the Refundable checkbox.
4. Select the Liability Account where the Deposit should be recorded. Note that the account must already exist in the General Ledger.

Next, navigate to the Late Charge Tab to record late fee policies. The tab is organized into two sections General and a space for calculation.
1. In the General Section enter a Description of the Late Charge.
2. Choose a Minimum Lease Balance from which to calculate Late Charge Fees.
3. Indicate a threshold under which a late charge fee will not be generated. List this threshold in the Suppress Charges Under field.

Next, navigate to the lower section of the page to further calibrate the Late Charge Fee.
1. Click the + icon to add a Late Charge Formula. Additional form fields will appear.
2. To specify the frequency of the charge, click the pencil icon to the right of the Late Charge Type. A popup window will appear. Select from the radial menu either a Daily, Monthly, or custom periodic frequency (by adding a number to the Every X Days field) for the Late Fee.
  1. Repeat Factor can be used to reinitiate the Late Fee under certain conditions. Select the most appropriate option from the drop-down menu.
  2. Click Ok to Save.
3. Specify a Flat Amount or Percentage in the Calculation type field.
4. Indicate the number of Grace Days a tenant has to return to good standing before a Late Charge is generated.
5. To specify the amount of the late charge, click the pencil icon to the right of the Calculation Type. A popup window will appear where you can enter the dollar figure.
  1. Click Ok to Save.

Find the Management Fees Tab. Once a fee is added, there are six sections that will detail the fee.
1. Click the Add button to add a Management Fee Calculation.
2. First, go to the Management Section and complete the associated fields.
  1. Assign a Management Fee Name to the calculation.
  2. Select a Manager from the list of available staff already added to the Real Estate
    module.
3. Complete the fields found in the Timing Section.
  1. Fields include Start Date, Next Date, End Date, and Scheduled Frequency. Note that frequency is listed in months.
4. The Basis Calculation Section allows you to select whether the fee should be flat or based on a formula. Choose the eligible Charge Types from the dropdown menu.
5. All fields are required in the Basis Amount Section.
6. Complete the Accounting Section.
  1. Select the Accounts Payable Vendor from the dropdown menu. Note that the vendor must already exist in Sage Intacct.
  2. Enter a description to be used on Accounts Payable Invoices.
7. Navigate to the GL Account Section.
8. Select the GL Account used for Expenses. Note the GL account must already exist in the General Ledger.
  1. Select the GL Account used for Credits. Note the GL account must already exist in the General Ledger.

Navigate to the Checklist Tab. This tab can be used to record action items that must be completed before the lease can be activated or terminated.
1. Use the Start Lease Section to add items to be completed prior to Lease Activation.
  1. Click + Add new.
  2. Enter Description.
  3. Repeat as needed.
2. Use the Term Lease Section to add items to be completed prior to Lease Termination.
  1. Click + Add new.
  2. Enter Description.
  3. Repeat as needed.

Find the Tax Tab. This section is used to store tax information for reporting and compliance purposes.
1. Click + Add new. This will generate a web form with various fields.
  1. Complete all Required Fields:
    1. Tax ID
    2. Current year
    3. Country where the property is located
    4. State where the property is located
  2. Complete Optional Fields as necessary.
    1. County where the property is located
    2. Land Value
    3. Building Value
    4. Improvement Value
    5. Exemption Amount
    6. Tax Amount
2. Repeat as needed.

Navigate to the Insurance Tab. This section is used to document insurance information for properties in Sage Intacct.
1. To add a new policy, start by clicking + Add new.
2. Complete all Required Fields.
  1. List the Insurance Type.
  2. Note the insurance provider in the Company field.
  3. Use the calendar tools to input the Effective Date and Expiration Date of the policy.
3. Then complete Optional Fields as necessary.
  1. Record the Policy Number.
  2. List the name of the representative of the insurance provider in the Agent field.
    c. Phone Number
    d. Insurance Value
    e. Liability
    f. Deductible
    g. Premium
    3. Repeat as Needed

Navigate to the Attachments Tab. This tab is used to store attachments like floorplans and proof of insurance.
1. Click + Add new.
2. Select Choose File under the Attachment header and use the file browser to upload an attachment.
3. Repeat as necessary for all additional attachments.