Earned and Unearned Revenue Report in FalconPro Real Estate Software: Complete Guide
Introduction
The Earned and Unearned Revenue Report in FalconPro Real Estate Software is a crucial tool for property managers and accountants. It allows you to audit all financial transactions related to rent revenue for every contract, providing a clear breakdown of what has been recognized as income (earned) and what remains as a liability (unearned) for future periods.
Accessing the Report
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Location:
Go to the Reports section and select Earned and Unearned Revenue. -
Property Selection:
Choose the desired property (e.g., Sky Tower). -
Date Range:
Set the reporting period (from a previous date to the end of the year or any custom range). -
Retrieve Data:
Click the retrieve button to generate the report for the selected criteria.
Understanding the Report Content
The report provides detailed information for each contract and unit, including:
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Client Name
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Unit Number
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Building Number
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Contract Value
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Previous Revenue Amount (carried from the previous year or period)
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Current Rent Amount
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Earned Revenue (portion of rent recognized as income)
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Unearned Revenue (portion of rent still due, shown as a liability)
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Contract Start and End Dates
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Contract Status
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Security Deposit (if applicable)
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Other Contract Details
Each contract is split into two main portions:
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Earned Revenue: Amount that has been recognized as income based on the elapsed period.
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Unearned Revenue: Amount that remains as a liability until its due date or the period is reached.
How the Report Works
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Revenue Recognition:
The system calculates earned revenue based on the contract’s start and end dates, distributing the total rent over the contract period. -
Liability Tracking:
Unearned revenue remains in the liabilities section until the due date, after which it is transferred to earned revenue. -
Audit and Compliance:
The report helps the accounting and audit departments track revenue flow, ensuring compliance with accounting standards and transparency for each contract.
Actions and Export Options
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Print:
Click the Print button to generate a hard copy for meetings, audits, or compliance. -
Export to Excel:
Export the report for further analysis or sharing with your team. -
Save as PDF:
Save the report as a PDF for digital record-keeping or email distribution.
Best Practices
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Regularly review the report to monitor how much revenue has been earned versus what remains unearned.
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Use the report for period-end closing, revenue recognition, and financial audits.
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Apply filters by property, client, or contract to focus on specific areas of interest.
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Ensure contract dates and values are up-to-date for accurate reporting.
Conclusion
The Earned and Unearned Revenue Report in FalconPro Real Estate Software provides a transparent, detailed view of revenue recognition for every contract. By leveraging this report, property managers and accountants can ensure accurate financial tracking, support audits, and comply with accounting standards.
Frequently Asked Questions (FAQ)
Q1: How is earned revenue calculated in FalconPro?
Earned revenue is recognized based on the elapsed period of the contract, distributing the total rent over the contract duration.
Q2: What does unearned revenue represent?
Unearned revenue is the portion of rent that is still due and remains a liability until its due date.
Q3: Can I filter the report by property or date range?
Yes, you can select specific properties and define custom date ranges for targeted reporting.
Q4: How do I export or print the report?
Use the Print, Export to Excel, or Save as PDF options at the bottom of the report screen.
Q5: Why is this report important for audits?
It provides a clear audit trail of revenue recognition, helping ensure compliance and accuracy in financial statements.
