An Owner Ledger is required for every property in Re-Leased as it tracks all financial transactions related to ownership. You can create a ledger linked to a specific property, or create a standalone ledger not associated with any property.
Creating a New Owner Ledger for a Property
Open the property.
Click the Ledgers tab from the left-hand menu.
Click + New Owners Ledger.
When filling in the ledger details:
In the Owner field, type the owner contact name — Re-Leased will suggest matches from existing contacts. If new, fill in the First Name and Last Name.
Provide a descriptive Ledger Title.
Set permissions for disbursing funds and whether owner statements can be generated.
Choose the Payment Method and enter the owner's bank details.
Select the Account for Owner Disbursement account code.
Define an Expenditure Limit if there is an agreed-upon cap on owner expenditures.
Select the appropriate Disbursement Profiles.
Set the Send Owner Statement preference and choose the owner statement format.
Click Save.
Creating an Owner Ledger Without a Property
Navigate to Client/Trust Accounts.
Select the appropriate account if multiple accounts exist.
Go to Owner Ledger Balance.
Click + New Owner Ledger and complete the details.
To later link the ledger to a property, go to the property, navigate to the Ledgers tab, click + New Owners Ledger, and search for the ledger you created.
For Asia-Pacific customers, the term "Trust Account" is used. European customers refer to this as "Client Account". Client/Trust Accounting is not available to customers in North America. For more information on regional terminology, see our Glossary of Regional Terminology.