Checkwriting
See the How to PDF document #259
An owner may give you money for a future expense. You do not want to give it back when next distribute funds.
There are a number of ways to keep funds from going to the owner when preparing distribution checks.
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Owner and Property Profiles, Distribution Reserve – The amount entered here is deducted from the amount available when distribution checks are compiled.
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Work orders – the Estimate field on tab 2 will be held back from the owner’s distribution check when the work order status is other than Hold, Resolved, Invoiced.
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Invoices – Any unpaid invoice amounts that are due less than 30 days in the future will be held back.
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Use the Advanced Scheduling feature to stop doing distribution checks for the owner until a future date – enter a Next Scheduled Date and unmark the Ignore Scheduling checkbox.
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Use the Advanced Scheduling feature to stop doing distribution checks by setting the Schedule to Never and unmark the Ignore Scheduling checkbox.
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Set the Maximum Distribution field in the owner/property profile to the rent amount minus the management fee. Doing so will cover you if you forget to do one of the above. If you have Advanced Scheduling set up for distribution checks the Max Distribution amount is multiplied by the number of schedules missed.
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To accumulate funds for a future expense refer to the procedure for Set Aside Owner Funds for Future Use.
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