Setting up Unit Owners Ledger Accounts

The Unit Owner Ledger Accounts are created to properly record all the revenue and expense activities generated from operating the Unit/Room. These items will appear on the Unit Owner Statement as line item revenues or expenses. Additionally, any expenses incurred by the Unit Owner should be created in this section.

1.  Click on Setup
2.  Select Ledger Accounts
3.  Click on New Account (New fields will open at the bottom of the page)
4.  Name – enter Item name example; Unit Revenues, Management Fees, Credit Card Commission Fees, Maintenance Fees, Cleaning Fees, etc.
5. Enter description (same as the item name)
6.  Type – Select Unit Revenues for revenue based items and Unit Expense for expense items
7.  Click on "Save"