Printing Check for Management Fees

All fees due to the Management (parent) company are accumulated in the appropriate Management Group ledger.

Set up the parent company as a vendor in Profiles, Vendor Profile. Set up an Account and Bill Code for Payment to Company or Commission Paid to Company (or whatever you wish to call it). When you are ready to write a check you can determine the amount of money available by looking at the Management Group ledger, printing a balance sheet or trial balance. You can determine the fees collected for a time period by printing an Income Detail or Summary, Revenue and Expenses report, Cash Flow, or Actual Management Fees (unit report).

To post and print the check, go to AP, Single Check. Select the parent company from the Payee drop down list. Select the Management Group from the Bill To list. Select the appropriate Bill Code, amount and bank and post and print the check.

Step by Step

First Time - Create an account code and bill code to use

1.	Go to <<Setup, Account Codes>>

2.	Click on <New>

3.	Enter an ID such as PAY FEES and a Long Description of Payment to Company

4.	Enter a [ledger code]

5.	Make the [Account Type] Expense

6.	Click <Save>

7.	Go to <<Setup, Bill Codes>>

8.	Click <New>

9.	Enter an ID the same as the account code above. Enter the long description information.

10	Choose as the [Account] the account code created above.

11.	Click <Save>.

Determine the amount of the check

1.	Go to <<Reports, Management Reports>>

2.	Highlight the Income Details or Income Summary report and click Run Highlighted Report. This report will show you the amounts collected for all types of income (management fees, NSF fees, late fees, etc).

3.	Enter the date range you wish to consider.

4.	Click <Compile>.

5.	You can view the report on screen or send it directly to the printer.

6.	The maximum amount that you can write a check for is the Ending Balance.

Post and Print Check

1.	Go to <<AP, Single Check>>

2.	Choose as the [Payee] the Management Group or the Vendor Profile you have created for the Company

3.	Choose as the [Bill To] the Management Group.

4.	Choose as the [Bill Code] the one you have created above.

5.	Enter the [Amount] of the check.

6.	Click <Post>.

7.	Choosing to print will bring up the Ready to Print Checks screen.

8.	Verify the information on the screen and change as appropriate.

9.	Click <Print> to print the check to the specified printer.