You can now assign owner ledgers to multiple properties, providing greater flexibility in managing owner funds across your property portfolio. This enhancement allows you to consolidate financial management while maintaining detailed property-specific reporting for owners.
Key Benefits
The multi-property owner ledger feature helps property managers:
- Streamline fund management: Eliminate the need to maintain separate ledgers for each property
- Cross-subsidize properties: Easily support less profitable properties (vacant units or renovations) without complex inter-ledger transfers
- Provide comprehensive reporting: Show owners the profitability of each property within a single, consolidated statement
- Reduce administrative overhead: Manage owner finances more efficiently with fewer ledger accounts
How Multi-Property Statements Work
When an owner ledger is assigned to multiple properties, the Separate Balances Statement format automatically groups and displays all transactions by property. This is the only statement format that supports multi-property ledgers.
Statement Structure
Multi-property owner statements are organized into distinct sections that provide both consolidated and property-specific views:
Summary - All Properties
The opening section presents a comprehensive summary of the entire owner ledger, consolidating financial data across all assigned properties. This gives owners an immediate overview of their total portfolio performance, including combined income, expenses, fees paid, and cash positions.
Property Summary
Individual property summaries follow, showing the financial performance of each specific property. Each property displays its own totals for invoiced amounts, GST, cash positions, and balances. Additionally, a "No Related Property" summary captures any transactions that aren't linked to a specific property, ensuring complete financial transparency.
Income Section
Income transactions are grouped first by property, then by tenancy within each property. This structure allows owners to see rental income from specific tenants and properties. The section includes:
- Property-specific income groupings
- Tenancy details within each property
- An "Other income" group for any income not related to specific tenancies
- A "No Related Property" group for income not tied to specific properties
Expense Section
Expenses are organized by property and further categorized by chart of account codes. This detailed breakdown helps owners understand where their money is being spent across different properties and expense categories. The section displays:
- Property-specific expense groupings
- Chart of account categories (General Repairs, Internal Maintenance, etc.)
- A "No Related Property" group for expenses not assigned to specific properties
Fees Section
Management fees and charges are grouped by property and fee type, providing clear visibility into the costs associated with each property's management. This includes:
- Property-specific fee groupings
- Fee type categories
- Outstanding fees not yet invoiced
- A "No Related Property" group for fees not tied to specific properties
Owner Disbursements
The final section shows all payments made to the owner during the statement period, providing complete transparency about fund distributions.
No Related Property Transactions
Throughout the statement, you may notice "No Related Property" groupings in the income, expense, and fees sections. These capture any transactions that haven't been assigned to a specific property in your portfolio, ensuring no financial activity is overlooked in the reporting.
Property Assignment
For optimal reporting clarity, ensure that income, expense, and fee transactions are properly assigned to their related properties. This maximizes the value of the property-specific groupings and provides owners with the most accurate property performance data.
Best Practices
- Use descriptive property names to make statements easy to read and understand
- Regularly review "No Related Property" transactions and assign them to appropriate properties when possible
- Maintain consistent property assignment practices across your team to ensure reporting accuracy
- Use the Balances owner statement format for multi-property ledgers to ensure proper display
This enhanced functionality provides property managers with the flexibility to manage owner finances more efficiently while maintaining the detailed, property-specific reporting that owners need to understand their investment performance.