Recurring Charges

The Recurring Charges Module allows the Property Manager to quickly and easily post regularly scheduled expenses to the owner account. These charges can be processed manually each month, or the system can automatically process them on the specified dates.

Examples of Recurring Charges would include monthly lawn care bills, pest control, pool services, management fees, or any other charge that is consistently billed on a month to month (or bi-monthly, tri-annual, quarterly, yearly, etc.) basis.

Utility bills, though they are billed consistently from month to month, are not typically consistent with regards to the bill amount. These items would be better entered into the Bill Payments Module as a bill payment rather than a recurring charge.

Overview

To access the recurring charges, go to:

  1. Accounting > End of Month Process
  2. Recurring Charges

Add a Charge

To add a new recurring charge, click the "Plus" icon in the upper-right corner above the table:

A new row in the table will appear to specify the following information:

  1. Specify the Contact or Vendor
  2. Owner Account Category - this is visible to the owner and allows the Property Manager to generate end of month bookkeeping reports based on each category
  3. Description - Enter a description for the owner such as "Monthly Pest Control Fee"
  4. Enter the Default Amount - If it is a charge to the owner, be sure to include a negative symbol before the amount
  5. Enter the Cost Price if applicable - this is the price due to the vendor
  6. If the default amount is to be applied to all properties, check the "All Properties" checkbox, if not, uncheck this box so a specific amount can be entered on a per property basis
  7. To process the charge automatically, specify the day of the month to apply to the owner statement. For example, enter "1" to process this charge on the 1st day of each month specified
  8. Click the checkbox "Process Automatically" so the system can process the charge automatically
  9. Specify the applicable months to process the charge. For example, if this charge only applies twice a year, specify which months to process it.

If the charge does not apply to all properties or it is a different amount per property, uncheck the "Apply to all properties" checkbox.

A "House" icon will appear in the first column:

Click the "Plus" icon and specify each property and the amount to charge. Remember to enter a negative symbol before the amount if it is a charge to the owner.

Once the properties and amounts are added, be sure to click the "Save" icon.

Edit or Delete a Charge

To edit a recurring charge, simply select the applicable field and make the changes. Be sure to click the "Save" icon after making any changes.

To delete a charge, click the "Trash" icon located in the first column and then click the "Save" icon or the "Refresh" icon to undo:

Process a Recurring Charge

To manually process a recurring charge, be sure that all the fields are filled out and the charge is applied to the correct properties at the correct amounts.

Then click the "Process" icon:

In the pop-up window, specify the correct month and year to process the charge to. This is the date that it will appear on the owner's statement. If the specified month has already been finalized, it will appear on the next open statement for that owner. Click "Process this Charge."

After processing, a green notification will appear if the charge was successfully processed and a line-item will appear in each applicable owner's account:

Repeat the steps for each recurring charge to manually process it.

Keep in mind, the system can automatically process the charges by enabling the "Process Automatically" setting. This saves the Property Manager time instead of manually processing each charge every month.

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