Setting up Unit Owner Expense Items

The Unit Owner Items module gives you the ability to create Unit Owner Revenue and Expense calculation rules. After the completion of this setup, the system will automatically calculate the values as stated and print these on the Unit Owner Statements. To create an account, you would click on;

1.  Accounts
2.  Unit Owner Items
3.  Click on New Item
4.  Enter Item Name , example; Management Fees @ 20%
5.  Display Name (can be the same as the Item Name)
6.  Description (can be the same as the Item Name)
7.  Value (enter 20)
8.  Check the Percent box
9.  Check Owner Expense radio button
10.  Category (select “Unit Owner Expense” from the drop-down screen)
11.  Net of Expense (Optional) if you would like the revenue to be net of all expenses.
12.  Rank (enter the number you would like to rank each item on the Owner Statement
13.  Group Individual Items (Optional) if you would like to group items according to categories
14.  Include other Net Expenses (Optional) if you would like to add other relevant net expenses
15.  Click on the Associate tab – Ledger Account Picker window will open
16.  Select the relevant Ledger Account – in this case it would be “Management Fees”
17.  Done (window will be closed)
18.  Save or Done (at bottom of screen)