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Transfer Property Surplus to and Recover Deficits from Owners

This function lets you transfer surplus amounts in the property ledger to the owner’s ledger, and/or transfer money from the owner’s ledger to property ledgers with deficits. The properties considered during this function are those that have the checkbox "Transfer Surplus Funds to Individual Owners" and "Collect Deficits from Individual Owners" marked in the Property profile.

When you click on the radio button and then Compile, a list will display. Each line item is the surplus or deficit amount in a property which will be distributed among the owners based on each one’s share when you click Post. If only the Transfer Surplus checkbox is marked for a particular property, only surpluses from the property will be moved to the owner ledger. If only the Collect Deficits checkbox is marked, money will only be moved if the property had a deficit. If both checkboxes are marked, funds will be moved in whichever direction they need to be and all properties are funded up to a zero balance.  This process can draw the owner balance negative, thereby reflecting any overall deficit in the owner's ledger.  To identify owners who are negative run an owner balance report, limiting to Balance Less Than $0.

Clicking anywhere on the line will allow you to edit the transfer amount and will display details about the transaction. The details are protected fields. After changing check amounts you can recalculate balances by clicking the Calculate button.

If you wish to skip a transfer mark the Skip checkbox.