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Situation

A Realogic abstracting client had an outside date as to when reconciliation billings could be performed in accordance several tenant leases (failure to complete billings by this date would result in LL losing the right to bill the tenant for any potential underpayment). The client did not have the in-house resources to prepare the reconciliation billings by such date.

Solution

Realogic met with the client to discuss their reconciliation process and to understand the nuances of their general ledger/chart of accounts. Realogic then utilized the actual expense amounts for the calendar year then ended to prepare expense reconciliation billings in accordance with tenant leases. As a result, the billings were made to tenants prior to the outside date mandated by several leases.