Overview of Owner Statements
Owner statements summarize financial transactions for property owners, including income, expenses, and disbursements. These statements are generated as part of the disbursement process and are influenced by the settings in the assigned disbursement profile.
Disbursement Profiles and Statement Generation
To ensure owner statements are generated correctly:
Enable Owner Statements in the Disbursement Profile: - Navigate to
Settings > Disbursement Profiles. - Open the relevant profile (e.g., mid-month). - Under the "Disbursement Reports" section, ensure "Owner Statements" is checked and save the changes.Assign Owners to the Correct Profile: - Go to
Contactsand open the owner’s details. - In the "Owner Details" section, select the appropriate disbursement profile (e.g., mid-month or end-of-month).Run the Disbursement Process: - Once the above settings are configured, run the disbursement process as usual. Statements will generate during the next disbursement run.
Assignment Rules for Owners
Owners receive statements based on the disbursement profile(s) they are assigned to:
Owners assigned to an end-of-month profile receive one statement at the end of the month.
Owners assigned to a mid-month profile receive one statement mid-month.
Owners assigned to both profiles receive two statements per month (one from each disbursement run).
Enabling owner statements in a specific profile only affects owners assigned to that profile. Other owners remain unaffected.
Statement Date Range Logic
The date range of an owner statement is determined by the last generated statement and not the accounting close date. For example:
If the previous statement covered 1 May to 29 May, the next statement will start on 30 May, regardless of whether the accounting close date is the 1st of the month.
This ensures continuity in reporting and avoids gaps in financial activity.
FAQs and Troubleshooting
Why aren’t owner statements generating after switching to a mid-month disbursement cycle? Ensure that the mid-month disbursement profile has owner statements enabled and that the owner is assigned to this profile. Then, run the disbursement process as usual.
Will owners receive two statements if assigned to both mid-month and end-of-month profiles? Yes, owners assigned to both profiles will receive one statement from each disbursement run.
Why do statement date ranges not align with the monthly close date? Statement date ranges are based on the last generated statement and not the accounting close date. This ensures continuous reporting.
By following these guidelines, you can effectively manage owner statements in Re-Leased and ensure accurate, timely reporting for property owners.