How to Generate and Use the Rent Revenue Report with VAT in FalconPro Real Estate Software

How to Generate and Use the Rent Revenue Report with VAT in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software includes a Rent Revenue Report, which provides a detailed breakdown of rent revenue based on contract months, regardless of whether the rent has been collected. This report helps property managers:

  • ✅ Retrieve actual rent revenue for any period.
  • ✅ Calculate VAT on commercial properties.
  • ✅ Generate detailed reports by contract, unit, and building.

This guide explains how to use the Rent Revenue Report, filter revenue data, and export reports for tax or financial analysis.

1. Checking FalconPro Version for Rent Revenue Report

The Rent Revenue Report is available in FalconPro Version 19.8 or later. Before using the feature, ensure that your FalconPro system is updated to this version.

Steps to Check Your FalconPro Version:

  1. Go to “Help” → “About FalconPro”.
  2. Check the Version Number.
  3. If your version is below 19.8, update FalconPro before proceeding.

2. Accessing the Rent Revenue Report

To retrieve rent revenue data, follow these steps:

Steps to Open the Rent Revenue Report:

  1. Go to Accounting → Reports → Rent Revenue Report.
  2. Select the Date Range (Due Date From – To).
    • Example: From 01-01-2020 to Today.
  3. Click “Retrieve” to Generate the Report.
    • ✅ Now, the system will display the rent revenue details for the selected period.

3. Understanding How Rent Revenue is Calculated

The Rent Revenue Report is based on:

  • ✅ Contract duration (start and end date).
  • ✅ Monthly breakdown of rent amounts.
  • ✅ Revenue for each contract month, regardless of whether rent is collected.

💡 Example:
If a 12-month contract starts on March 25, rent revenue is calculated for each month. Even if rent is unpaid, the contract revenue is still counted as earned revenue for that month.

4. Filtering Revenue Data: “Has Revenue” vs. “No Revenue”

FalconPro allows users to filter revenue based on property ownership status:

  • ✅ “Has Revenue” Option:
    Shows properties where the user is the owner and revenue is recognized.
  • ✅ “No Revenue” Option:
    Shows properties managed for other owners, where FalconPro does not generate monthly rent revenue but tracks earnings for external landlords.

Steps to Filter by Revenue Status:

  1. In the Rent Revenue Report, select “Has Revenue” or “No Revenue”.
  2. Click “Retrieve”.
    • ✅ Now, the report will only display properties based on the selected revenue status.

5. Calculating VAT in the Rent Revenue Report

Some businesses generate VAT reports based on actual rent revenue instead of collected amounts. FalconPro provides a VAT calculation feature in the Rent Revenue Report.

Steps to Calculate VAT in the Report:

  1. Enable the VAT Columns:
    • Locate the “VAT %” and “VAT Amount” fields in the report.
  2. Identify the Property Type:
    • Residential Units: VAT = 0%
    • Commercial Units: VAT = 5%
  3. Filter by Commercial Units (Optional):
    • Click “Retrieve Only Commercial Units” to view only VAT-applicable contracts.
    • ✅ Now, FalconPro will display the VAT calculated for commercial properties.

6. Viewing and Exporting Report Details

The Rent Revenue Report provides multiple levels of detail:

  • ✅ Detail-Wise View:
    Shows monthly revenue for each contract.
    Each unit is listed multiple times (once per due month).
  • ✅ Building-Wise View:
    Shows total rent revenue for each building.

Steps to Export the Rent Revenue Report:

  1. Click “Print” to generate a hard copy.
  2. Click “Export to Excel” to download the report.
    • ✅ Now, the report can be saved, modified, or shared for financial analysis.

7. Configuring VAT Settings for New Properties

VAT settings must be manually configured for new buildings or units to ensure accurate reporting.

Steps to Set VAT for New Properties:

  1. Go to Property Management → Probability Setup.
  2. Select a Building.
  3. Choose the Unit Type:
    • Commercial (VAT = 5%)
    • Residential (VAT = 0%)
  4. Click “Save”.
    • ✅ Now, VAT will be correctly applied in the Rent Revenue Report.

8. Best Practices for Using the Rent Revenue Report in FalconPro

  • ✅ Ensure FalconPro is updated to Version 19.8 or later to use the feature.
  • ✅ Use the “Has Revenue” and “No Revenue” filters to get accurate owner earnings.
  • ✅ Verify VAT settings for all commercial units to avoid incorrect tax calculations.
  • ✅ Use the report to track rent revenue trends across months and years.
  • ✅ Export data to Excel for further analysis and tax reporting.

Conclusion

FalconPro Real Estate Software’s Rent Revenue Report with VAT allows property managers to accurately track rental revenue based on contract months while ensuring proper VAT calculations for tax reporting. By following these steps, users can:

  • ✅ Retrieve rent revenue data for any period.
  • ✅ Calculate VAT for commercial properties automatically.
  • ✅ Export and analyze data for financial reporting.

FAQs

  1. What is the difference between Rent Revenue and Rent Collection?
    • Rent Revenue is based on contract months (whether paid or not), while Rent Collection reports show actual received payments.
  2. How can I calculate VAT for only commercial properties?
    • Use the “Retrieve Only Commercial Units” filter to view VAT amounts for commercial contracts.
  3. Can I edit past revenue reports?
    • No, rent revenue is calculated automatically based on contract periods.
  4. How do I verify if a property has correct VAT settings?
    • Check the Probability Setup section under Property Management and ensure the correct VAT type is selected.
  5. Can I use this report for tax filing?
    • Yes, businesses can use the Rent Revenue Report with VAT for tax calculations and VAT submissions.

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