How to do the mid month process

Preparing to Pay out Owners:

There are a couple of reports that are good to run before any payout.

Click on Owner Reports and print either all or some of the following.

  • Owners: Held Schedule
  • Owners: Keep back amounts
  • Owners; Generated Pay Detail or Summary (Details shows each Owner, split by each property.) This is a handy report to check who you are paying out before you actually do, It is also an excellent way to check that each owner has a bank account which is really important.
  • Tenants: Refunds Due Report: Ensure that you are keeping sufficient funds from Owners to be able to refund tenants.

 

Instructions - Generating Pay Summary:

 
  • Click on Owner Reports - Generate Pay Summary
  • Choose the frequency - Half Month
  • Preview
  • Check down the report to make sure there are no gaps in the bank accounts

 

Paying out the Owners:

You can pay out the owners, using generate Owner Payments.

  • Go to Transactions, click on the down arrow on the right hand side
  • Choose generate Owner Payments - click on green arrow.

  • Check the date, choose half month under the frequency selection.
  • If you want to send a remittance, or a statement. Select from the generate dropdown, or change to none.
  • Click Ok.
  • The owner payments will show on the screen. Click on the printer - top right hand side
  • Print report - Unprocessed Transaction Report - This will show the total of chq's and direct payments
  • Once printed - go back to Transactions and click on Process
  • Click on "Online" - click on the printer - Top righthand side of the screen
  • This is the Direct Credit Report - close when printed
  • Click on "Generate", save the file to your desktop (or a folder) Called Owner Payment (Better not to date the file as it is a good idea to over ride this file each time it is generated)

NOTE: If you also pay out Creditors or Ledgers at mid month, then follow the instructions under Month End or just go to transactions and on the right hand side click the "Generate" (Ledgers or Creditors)

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