APRIL 2019
Our webinar All About the General Ledger will be held on Wednesday April 24 at 4:00 pm Eastern time. 

Topics covered will include depositing receipts, reconciling the bank account, posting journal entries and reviewing history screens.

A recording of the webinar will be posted to the website if you are unable to attend. A companion help document is available.
Register for the FREE All About the General Ledger Webinar
View the Companion All About the General Ledger Help Document
Check to be sure you are on the current version of your
Promas Professional Landlord® Software:

Version 12 Rental:
Release 2019.1 Build 15

Version 6 Association:
Release 2019.1 Build 5

Version 6 Rental:
Release 2019.1 Build 2
If you are using Version 6 Rental, please update to Version 12.
How Can I Take a Fee from an Owner?

This can be accomplished by posting a Journal Transfer. A Journal Transfer is used to move money between ledgers. Found in GL > Journal Transfer, the example below takes a $55.00 administrative fee from the owner Harrison Golden and transfers the money to the management group. Note that the bank account must be specified, because this is transferring cash from one ledger to another. This is not a transaction that affects the bank reconciliation. Note also that in this example there is an income account and an expense account associated with the fee.

GL > Journal Transfer
How Can I Record an Expense Paid for by an Owner?

If an owner paid for an expense for his unit and wants it to appear on his owner statement, the transaction can be recorded as a Journal Voucher. A journal voucher is a transfer of money within a single ledger. Found in GL > Journal Voucher, the example below is for an owner paid furnace repair of $150.00. The offsetting transaction for the debit for the repair account would be a credit CASH IN: Owner Contribution.

GL > Journal Voucher
How Often Should the Bank Accounts be Reconciled and Who Should Perform this Task?

The bank accounts should be reconciled every month and ideally the reconciliation should be performed or reviewed by a person who does not have the primary responsibility for paying bills from or making deposits to the bank. Bank reconciliations are the primary financial control to detect mistakes and fraud. We offer reconciliation services if you need help reconciling or want to have an outside party perform your bank reconciliations. Please call for details and pricing.

Bank Reconciliation Services
PROMAS support offers bank reconciliation services. A correctly done bank statement reconciliation is a prime factor in the ability to pass a state audit with flying colors. It is also the best way to prevent employee theft, fraud, or errors. Call for pricing and additional details.

Data Review Services
Performed by our experienced sup­port staff, we will review your records and analyze your setup. You will receive a full report of our findings and recommendations. Call for pricing and additional details.
Copyright © 2019 The Promas Landlord Software Center, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

Email Marketing Powered by Mailchimp