This is probably because you have not moved the money from the Escrow bank to the Checking bank. Use either GL, Bank to Bank Transfer or AP, Transfer Check to move the money.
Yes. In Owner Settings make the Monthly Statement Closing Date the day you want to publish through. Regenerate a statement for that owner. The statement will be from the starting date of the last statement to the closing date you have chosen. The owner will have both the original and the supplemental statement available to view.
Remember to change the Monthly Statement Closing Date back.
Yes. Preveiw any report on the screen. You then have the option to export to a variety of formats including Adobe Acrobat, Excel, Microsoft Word, etc.
As a last resort, yes. You could setup a gmail account, go through the process of creating a login account and link to the account you are managing for the owner, then provide that email address and password to the owner. Instruct him to change the password the first time he logs on.
We have had this functionality in the program for over 12 years. See our Help in the program on ACH.
If you see liabilities in GL History, they are most likely tenant open credits. To verify, click on the Cross Reference button at the bottom of the screen to see the open credits.
If they are not open credits, go to Reports, Ledger Reports. Choose Balance Sheet and restrict to the ledger. Note anything that shows up under the Liabilities heading.
1. Help in the program is the most up-to-date written help. Click on Help, Contents, and search on a keyword.
2. The How To pdf documents provide step-by-step instructions for many unique topics. Click on the Support tab of the website to see them. While in PROMAS you can click on the Links dropdown, then on How To pdf documents to get the Table of Contents on our website.
3. Email firstname.lastname@example.org when the question is not urgent.
4. Call the Help Desk – 800-397-1499 to get a callback.
In the program, click on Help, Contents and begin to type Add a New Computer. Press the Enter key to display the topic.
You also have the option to have your database in the cloud where you can access it from anywhere with an internet connection. Please call the Help Desk for information.
You can batch tenant payments from your lockbox provider. RentTrack, PayLease and HeroPM can provide a file that you can import into PROMAS. We charge nothing.
An order form is available from the links dropdown from the main taskbar in the PROMAS application. 1099’s can also be ordered on-line from http://www.promasforms.com
You need to find the tenant receipt that originally paid the late fee – see Help, Contents, Payment Recorded in Error.
How can I keep this from happening?
In Setup, Charge Codes, edit the Rent charge code and change the Priority to High.
This means that you have lost your mapping to the server. On a machine where you can log into PROMAS, see Help, Contents, Map Network Drive.
This is usually related to your network. In the program, click on Links, then How To PDF Documents to bring up our 5 page document menu. Scroll to the 4th page. Scroll halfway down where you can click on the Network Troubleshooting document #356. OUr 4 page document addresses several network issues.
1. There are payables or work orders holding back funds. You can see this by clicking on the owner or property name in AP, Scheduled Payables. You can increase the distribution check by that amount manually.
2. You have yet to move owner money, earned by a tenant’s forfeited security deposit, from the security deposit bank to the rent bank. Look at GL, GL History. The Escrow and Deposits boxes should match.
3. If there is a property involved, you may have marked the Transfer Property Surplus on Tab 2 of the Property Profile. In this case, before doing the distribution checks, use AP, Scheduled Payables, Transfer Property Surplus.
4. In the Owner profile, Advanced Scheduling function, you have set up Scheduled Distribution Checks and the date is in the future. Set the date back or mark the Ignore Scheduling checkbox.
5. The tenant payments are still in open credits and haven’t been used to pay off charges. In AR, Tenant Receipt, apply those open credits.
Tenant Open Credits usually occur from tenant receipts for overpayments or prepayments. They are tenant monies you are holding in your bank account. These monies have not been applied to any charge code. Released deposits also create open credits.
First, fix the owner ledger in PROMAS. Then use the Regenerate Owner Statements function. Restrict the regeneration to that owner. The next time you publish the regenerated statement will replace the original statement.
Use the AP, Single Check function to re-enter the check. Mark the Handwritten checkbox and enter the original check number. Use the same Payee, Bill To, Bill code and amount as the original check.
It does not necessarily mean there is no activity to report.
With statements, it usuall means there is no specific statement style assigned to the tenant or ledger profile.
With reports, it means nothing fits the parameters you have chosen in the Restrict To or Date Range or Limit To fields.
A required field is empty. When you click
The end of year is no different than the end of any month from the viewpoint of posting transactions. You can post tenant payments for January rent in December as open credits and deposit the money in the bank. The owner will be credited when the rent charges are posted for January and the amount received in December will not be included in the owner’s 1099. If you prefer to have the January payment be included in this year’s 1099, post the payment as an advanced payment.
Run the audit reports that you run at the end of each month.
After you have posted all transactions for this year, do a backup. Mark it “Archive – 2008 – Do not erase” Store it in a secure location for a minimum of two years.
Statements (see owner statement recommended)
The end of year statement to owners is typically one with a Body Style of Unit Account Summary. This provides the totals for each account code (rent, management fees, plumbing, etc.) when the date range is set for the full year. For multi-unit owners you may want to include a summary style of Owner Income Summary, but it is not necessary unless you want the owner to have summary for all units combined.
An alternative is the ledger report Income Summary.
If you want to give the owner a report showing all transactions for the year (which we do not recommend) do an owner statement with a body style of Owner Balance Details (Unit Balance Details for multi-unit owners), with a Running Balance of every month. For more detail you could include memos and include payees.
End of Month Processing
PROMAS uses open book accounting so there is no month end close. However, to be sure all your accounts are in order, there are some reports you can run. See the Audit procedure for details.
You should backup whenever you have entered more transactions than you want to re-enter. in most cases this is daily.
To backup, go to File, Backup Database. PROMAS will tell you the name and location of the new folder containing your backed up files. You can leave it there or copy to an external media.
For a comprehensive backup plan, please see the Help in the program on Backing Up.
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