Management Group Fields
This profile defines the Management Group.
In most companies only one Management Group needs to be defined. Essentially a management group defines a set of books. A ledger is maintained for the Management Group. Management fees, late fees, leasing fees and other funds collected from an owner or tenant are recorded in the Management Group ledger. Checks are written from the management group ledger to the parent company for fees earned.
More than one management group may be set up when you want to maintain separate books, e.g.:
bookkeeping is centralized for several offices
an apartment complex has special reporting requirements
the company books are being kept using the system
property manager (agent) portfolios need to be separately maintained
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