See How to PDF document #266 for more information.
This only applies when you want to move ALL history and transactions from the owner ledger to the property ledger. Changing the ownership of a unit is easy. The tricky part is to handle transactions that were posted to the owner but must be redirected to the property.
1.
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Set up a property profile if you haven't already done so.
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2.
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Do a backup of your data.
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3.
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Go to <<Profiles, Unit>> and <Edit> the unit that will point to the property. Click on the <Change Ledger> button. When the warning appears, click <OK>. The ledger field is no longer protected and you can select the property as ledger. Do this for every unit that will be assigned to the property.
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4.
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Go to <<File, Database Utilities>>. Select <Restructure Accounts Receivable>>. In the [Limit to Tenant] field, select the tenant who lives in the unit.
NOTE: If no tenant is selected, then the restructure will restructure the entire database, not just the owner/property ledger you are working with. So any other ledgers whose units have changed ownership will be affected.
Double click in the blank area below the [Fix Errors in Void Information] checkbox. Click in the 4th checkbox for [Update Unit and Owner Information to Match Current Tenant and Unit Profiles].
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6.
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A warning screen will appear telling you to do a backup. Click <Yes> as you have already done one. Click <OK> to the warning to Rebuild the General Ledger.
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7.
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Do step 3, 4 and 5 for each unit and tenant (including past tenants).
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8.
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Click on <Restructure Accounts Payable>. In the [Limit to Ledger] field, select the owner's name. Double click in the blank area below the [Fix Errors in Void Information] checkbox. Click in the 4th checkbox for [Update Payer Information from Tenant and Unit Profiles].
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10.
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A warning screen will appear telling you to do a backup. Click <Yes> as you have already done one. Click <OK> to the warning to Rebuild the General Ledger.
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11.
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In <<File, Database Utilities>> click on [Rebuild General Ledger] and click <Run Database Utilities>.
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12.
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Run a financial statement (Cash Flow) for the owner and the property. Determine the amounts for each account that need to be moved from the owner to the property.
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13.
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Any items that were posted to the owner ledger through a journal entry, plus any transactions not posted to a unit, i.e. cash contributions, cash distributions, payments that had the owner as the [Bill To] will still be in the owner ledger. To handle these do a journal transfer from the owner to the property.
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Note: After changing the unit’s ledger from an owner to a property, review the owner statement and cash distribution setup for the property. Surplus funds for the property can be handled in several ways:
*Sent to the [Distribution Check Override Address] in the Property Profile when <<AP, Distribution Checks>> are run
*Sent to each owner per the shares when <<AP, Distribution Checks>> are run
*Transferred to the owner's ledger in <<AP, Scheduled Payables>>, when Transfer Property Surplus is run
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