Setup
Accounts - Create an Owner Liability account to maintain the Owner postings.
Owner Liability Account - Create an Owner Liability Account. This should be a liability account in the 028000 section of the Chart of Accounts.
Example: 028010. This account will maintain the Owner rents that have been invoiced to the tenants and not yet paid to the Owner.
Service type - Two Service Types must be added to the application; Owner and Owner Expenses.
Owner - Add an Owner Service Type. When processing Owner Payments, this will assist with the automatic creation of Owner Payments.
Account - Select the Owner Liability Account, 028010 created in the previous step.
Billing Type - Select Forward.
Service Frequency - Select Monthly.
Document Type - Select Payable.
Category - Select Other.
Owner Expenses - Add an Owner Expenses Service Type. When processing monthly recurring expenses on behalf of Owners, this Service Type will be used.
Account - Select the Owner Liability Account, 028010 created in the previous step.
Billing Type - Select Forward.
Service Frequency - Select Monthly.
Document Type - Select Payable.
Category - Select Other.
