Automatically Pay Owner Transactions

Access to this option is controlled by "Permission option" 79.

Edit -> Clients, Agencies, Owners, Suppliers -> Automatically Pay Owner Transactions

This option can be run for one Propery Owner or for all. If only one Owner is required use the Search "? " button. When ready select "Start ". All transactions will be summarised.

if "Generate Guarantee Payments" has been selected then the following form is presented so that you can manage guarantee payments.

An account is maintained for all Property Owners. This option allows the selection of guarantee payments which are due and you want to pay to be applied to an Owners account. Running this option again but with "Generate Guarantee Payments" unticked will select all Owner acconts which have a balance in excess of their "retention" value, and raise an actual payment, clearing outstanding transactions and guarantee payments at the same time.

Scroll through the guarantee payments which have been found. If there are any which you want put "On Stop" then enter anything in the "Stop " column or blank the column to remove the "On Stop" setting. All payments which are due to an Owner will be set to "Authorize" unless the payment has previously been placed "On Stop". If you do not want the payment to be raised blank the Authorize column.

if "Generate Guarantee Payments" has not been selected then the following option is presented. Balances for transactions on the "Debtor" and " Creditor" Ledgers are merged and shown. Payments are not applied to the Ledgers until the "Ok" button is selected.

If a "Retained Balance " has been provided in "Property Owner Configuration" then only the difference between that value and the total due to the Owner is used. All amounts retained are available at a later date. You can still pay the retained amount using the "Payment Allocation " option.

1) Select/De-select the payments to make.

2) Select the payment method to use.

(a) Transfer

(c) Cash

3) Select the "Payment account" for all payments to be posted to.

4) Select the Payment date.

Select "Ok" when ready. A payment for the amount displayed for each selected Owner

The "Transfer Report" can be used to provide a list of all transfers including ID and individual bank account details.

Nominal Ledger Postings

The Debtor and Creditor Ledger balances are merged for each Property Owner. A Nominal Ledger Journal is automatically created to cover the " Contra " amount on the Debtors Ledger.

For example

If the Owner is entitled to 750 GBP in Rental income ( Creditors Ledger) but has 500 GBP to pay in fees (Debtors Ledger) then a Journal posting is created as follows.

Account Debit Credit

9100 Debtor control 500.00

9600 Creditor control 500.00

Company and Currency