Below is an example of the export created from RMS for a property, as Accrual Accounting setup vs Cash Accounting setup, and answers to commonly asked questions.

Accrual Accounting

Cash Accounting

GST on Income & GST Free Income

When viewing the exported file for both cash and accrual accounting, multiple entries for General Ledger Codes can sometimes be seen.

RMS calculates GST and applies rounding per transaction and reports it as the cumulative total. General Ledger Codes can also include a combination of charges with varying GST levels in RMS (Full, Concessional, or GST Free).

These figures are separated for Xero's requirements as GST on Income and GST Free Income listed in the Tax Rate column.

When comparing the export with the Charge Report (accrual) or Cash Report (cash), the two lines for each General Ledger Code should be recombined.

Mapping Receipts

Mapping Receipts and Credit Cards in RMS is required for the export, as these are the Offset Accounts contributing to the property balancing in their accounts.

Suspense Receipts

Suspense Receipts are visible on the export for cash accounting properties, and the corresponding Xero General Ledger Account Code should be setup as the Account Type of 'Current Liability'.