Data Collection

Better Data. Better Decisions.

In LIHTC Asset Management, data is king. However, collecting data from multiple sources in a myriad of formats and accounting practices can be agonizing. Lexington Solutions’ sophisticated Data Collection service is a game changer for developers, syndicators and investors who want to easily aggregate, analyze, and report data.  With complete, real-time access to your data, your processing rules, and your collection status, you’ll always be in control.

Lexington Solutions’ electronic Data Collection service eliminates manual processes and works seamlessly with Fusion™, our asset management software, or your existing database. We do the heavy lifting of collecting your occupancy, budgets, and interim financials directly from your sources so that you don’t have to.

Data colection screen shots

We Collect the Data – You Reap the Benefits

  • Eliminate the need for dedicated data entry staff as your business grows
  • Receive data sooner giving you more time to analyze it
  • View and download your source data, processing rules, and the status of all your properties via our intuitive client web portal
  • Improve data accuracy and eliminate manual data entry mistakes
  • Seamlessly convert your existing data collection process with no impact on your operations

Expert – We understand the complexities of sharing data between systems

    • We read raw trial balances files in a number of formats and map that data directly to your chart of accounts
    • We map incoming accounts to multiple target accounts, so you can easily track your asset and liabilities on your balance sheet and your statement of cash flows

Accurate – We are your first line of defense in validating financial data

Our system performs a number of data checks, including:

  • Checking for prior month adjustments by comparing the monthly opening balance to the prior month’s reported closing balance
  • Testing that the incoming trial balance’s total closing balance equals zero
  • Testing that your outgoing balance sheet total equals zero

Flexible – We understand varied accounting practices

  • Regardless of how your management companies report and account for hard debt and reserves, we can provide monthly payments and deposits so you can accurately calculate your debt service coverage ratio
  • We manage different accounting rules for different properties from the same source chart of accounts to guarantee that your data is correct

Simple – We give you control over your data

  • Our intuitive, self-service portal shows you the latest collection and processing status for your portfolio’s data
  • Export any of your data to Excel at any time with one click

 

Client Portal Processing Status Dashboard

Client Portal Processing Status Dashboard

 

Download the Lexington Solutions Data Collection Handout