This screen contains specific settings that pertain to the Owner Accounting Module. If the Property Manager generates monthly owner statements, then it is important to configure these settings.
The first setting is to enable owner accounting for the selected property. If owner statements will be generated, make sure to enable this setting. If not, the Owner Accounting Module for this property will be grayed out.
Taxes and Fees
- Specify the tax location for this property and if taxes are submitted, enable the checkbox. It is crucial to specify the tax location, so when a booking is placed, it can auto calculate the correct taxes.
- If applicable, enter the Sales Tax Account Number, Tourist Tax Account Number, and the Local Business Tax and Hotel and Restaurant License.
- Enter a Housekeeping Fee to charge the owner for Owner Bookings and Owner Stays. This will be applied to the monthly owner statement.
- To Override Default MC Commission %, enter the commission for this property. This will override the global commission set in the Software Settings Assistant.
- If applicable, enter the owner's reserve balance or minium amount they must maintain in their account. This will be covered more in the Accounting Manual.
- If applicable, specify the Seasonal Commission to apply to this property.
- If Owner Booking Fees apply, check this box. An owner booking fee can be charged to the owner if the owner has placed a reservation (Owner Booking or Owner Stay). This will be applied to the monthly owner statement. Enable the checkbox and enter the amount.
- Enter the owners Tax ID number or Social Security number
- The system can process checks for rental proceeds due to the owner. If applicable, enter who the check is payable to.
- ACH Settings - The system can generate an ACH file to batch pay the owner's for rental proceeds due to the owner. Enter the owner's bank account information. (Only USA bank accounts are supported).
- Payment Methods - Enter the owner's credit card information to save on file. This can be used to process any payments from the owner.
Once complete, check the "Click if you have completed this page" box to store the settings and click the Next button to continue to the next page, or use the dropdown menu to select another feature.