For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.
This guide will provide you with a comprehensive overview of how to navigate and comprehend the owner ledger balance screen in your Client/Trust Account. It's designed to help you quickly interpret the financial standing of each property or owner and execute account-related actions with ease.
Accessing the Owner Ledger Balance Screen
To access the detailed breakdown of rental ledger balances:
- From the Client/Trust Account home page, click on Owner Ledger balance to proceed.
- Utilize the filtering options to view archived ledgers, to exclude ledgers that do not have a balance, or to only view ledgers with withholds.
- If you have more than one Client/Trust Account, use the Switch Account toggle.
Understanding Ledger Summary Information
The ledger summary will display several pieces of relevant information:
- Ledger Name: Click to review transactions or modify ledger details.
- Owner Name: Click to access the owner's contact information.
- Property Name: Click to view the property in question.
- Withheld: Click on the displayed amount to add or change withhold particulars.
- Pending: These are payments that have been disbursed but are yet to be reconciled.
- Current Balance: This indicates the ledger's total balance, including any receipts that have not been cleared.
- Uncleared: A portion of the current balance representing funds that have not yet been cleared.
- Available: The ledger's balance minus uncashed funds; click the magnifying glass icon for a detailed overview of available funds.
- Creditor Current Balance: Overall amount due for expenses or income credit notes still payable.
- Fees Current Balance: Amount due for various fees, visible by clicking on property or owner links, then selecting Fees.
- Potential Disbursable Balance: The sum that could be paid out to the owner if a disbursement were to be made immediately. Note: a negative value often indicates no payment is due to the owner.
Understanding Creditor Amounts
When reviewing owner ledgers, you can now access detailed breakdowns of creditor amounts to understand exactly what makes up the balance owed to each owner. This transparency helps you quickly identify which expense invoices and tenant credits are contributing to the total creditor amount.
Viewing Creditor Amount Details
In the Ledgers list under the Owners tab, creditor amounts that have outstanding balances (over $0) appear as clickable links. Simply click on any creditor amount to open a detailed breakdown modal.
The breakdown modal displays:
- Ledger name at the top for easy reference
- Summary totals showing the breakdown between expense invoices and credit notes, plus the grand total
- Two tabs for organizing the information: Expense Invoices and Credit Notes
Expense Invoices Tab
The Expense Invoices tab lists all unpaid or partially paid expense invoices contributing to the creditor amount. Each invoice entry shows:
- Due Date - displayed in your local time zone
- Reference - the invoice reference if one exists, otherwise the invoice ID is displayed
- Creditor Name - the contact name associated with the invoice
- Amount - the outstanding amount for that invoice
You can click on any reference number to navigate directly to that expense invoice's detail page for further review or action.
Credit Notes Tab
The Credit Notes tab shows all tenant credit notes that reduce the creditor amount. Each credit note entry displays:
- Issue Date - when the credit note was issued
- Reference - the credit note reference if available, or the sequential number, or the invoice ID
- Contact - the tenant or contact associated with the credit note
- Amount - the credit amount being applied
Click on any reference number to open that credit note's detail page for complete information.
Benefits of Creditor Amount Breakdown
This detailed view helps you:
- Quickly reconcile owner creditor balances without manually reviewing multiple invoices
- Identify which specific expenses are outstanding for each owner
- See how tenant credits are affecting owner balances
- Access relevant invoice and credit note details with a single click
- Improve accuracy when preparing owner distributions or addressing balance inquiries