This function allows you to pay out a single owner at any time. Normally for Mid Month and Full Month End, owner payments will be done in bulk but sometimes an owner needs paying out during the month as a once only payment. Each property has to be paid out individually this way.
- Go to Financial then Transactions
- On the left hand side click on the down arrow, select Payment Owner and click on Generate
- Find the Property/Owner that you require
- The amount that they are due will show on the screen. You can override to put in a LESSOR amount, but you MUST NEVER put in a larger amount as this can cause you to overdraw the Trust Account and the Owner will be overdrawn.
- Put good comments on why you are doing this payment out of the normal cycle e.g Owner requested payment
- Click Confirm
- Process as normal.
- A pop up will say you have a file to download and this is the remittance. You don't have to print this
- If you wish to upload a file to the bank, click on online file, The transaction will be sitting there
- Click on generate and name the file Owner.csv
- Click Download then Clear
- Remember to upload the file to the bank.
NOTE: Palace is a Property based system, so you do need to select a Property to put the payment against. If the owner has more than one property that you want to pay out, you can do a Generate Owner Payment (Right hand side of Transactions), untick all the owners that you don't want to pay and leave the one owner with all his properties instead.