Residential Rent workpaper (RES)

How the RES workpaper splits between auto-populated income and manual expenses, and how the rental income gross-up journal works.

The Residential Rent (RES) workpaper reconciles rental income against expenses for residential and commercial property. Income is auto-populated but expenses are manual because they often need to be validated against client-provided records.

Data extraction

Income section (auto-populated)

Automatically populated based on the current year General Ledger (GL) Details for account codes mapped under Rent Received - Residential and Rent Received - Commercial in Chart of Accounts (CoA) mapping.

For example, if two account codes are mapped under Rent Received - Residential, the Income section will display monthly data account-wise in the workpaper.

Expense section (manual)

The Expense section is manual. Users are required to enter the amounts manually based on client-provided records.

Auto-triggered journals

An auto-triggered journal is created for Gross up rental income in this workpaper once the workpaper is completed.

Related workpapers

  • GST Reconciliation (GRC): Adjustments from this workpaper are auto-populated in the GRC "Other Adjustments" section once RES is completed.

How to access

  1. Go to Jobs and open the relevant job.
  2. Click the Workpapers Icon or navigate to Results then Workpapers.
  3. Select RES on the Workpapers Dashboard.