The difference between a Remittance and an Owner statement at mid month

When paying out owners during the month, you will be given a choice of a Remittance or an Owner Statement, what is the difference

A Remittance: This is basically a payment slip, it tells the Owner, that they were paid out today and how much they were paid.

Owner statement: This is the full record of receipts, payments and expense transactions that came out and went in so far this month.

Please note: if you send an Owner statement out at Mid Month and then again at Month End, the same transactions will show plus the new transactions for the end of the month - They are not Clearing Statements.