- firstly, owner statements with all transactions to date showing (the statement shows an account balance with a comment that we are banking the money into the bank account number)
- next process the owner payment transaction, bringing the balance back to zero.
- next Close off the month.
The new month's statement therefore starts from after the previous month's owner payment has been done, and has a zero opening balance, and only shows the new months transactions.
So no statement will have the transaction of the final month's payment on it - only a total with the comment that that amount is being banked.
One alternative is for you to change the order that you process the monthend steps - and you can do this (about 5% or less of our users have changed the sequence of the monthend steps)
Then you would run:
- Owner payments, which will bring the owner balance back to zero.
- then owner statements - most of which will have a zero balance because the final payment transactions will show in the statement.
(The zero balance may show the comment "No payment Made" which is the default wording for a zero balance, though this can be changed.)
Of course your decision on the sequence of events will affect all owners - my concern is that if you change, you will have many many owners asking why their statements suddenly have a zero balance.
Another alternative is for you to do the steps in the following order :
- Owner statements
- Close off the month (with closing balances)
- Process owner payment transactions.
This sequence will then show the payment transaction for the previous month on the next months statement, which will start with the opening balance.
The main disadvantage with this option is that your year end statements will not "align" the income and fees in the same month as the payments, because the payments are being processed in the new month.
This would make the year end statements very confusing.