A contact file is created when a landlord ledger is added. It can be accessed in a number of ways:
- Using the search function, type part of their name and click on the matching contact;
- From the Trust Account or Client Account ledger list, click on the contact name in the Owner column;
- From their property, click on the Property Owner name link;
- From the Contacts menu.
Most of the contact information is the same for all types of contacts. Enter new contact information into the screen, and save it to keep the changes.
- Tax number is optional, and does not need to be filled in.
- Payment method will have already been set when adding the owners ledger, it can be edited.
Fields specific to Owners
1. Bank Account: Where the payment method is set to EFT, and owner bank account details need to be entered.
2. Add a Bank Account: For owners of more than 1 property, there is an option to add more bank accounts.
3. Account for Owner Disbursements: Should match to an equity code for owner drawings, or similar, from your chart of accounts.
4. Expenditure Limit: If you would like to be prompted when processing payments for more than a certain amount, enter it here. For owners with no set limit, leave this field blank.
5. Disbursement Profiles: Are the different payment run types that are performed with the client or trust account, tick all options which apply to this owner.
6. Owner Statement Type: There are 4 statement types, 2 applicable to Residential owners and 2 applicable to commercial owners. For owners with more than one property, there will be an option to select a separate statement for each ledger or a combined statement for all ledgers.
7. Statement Delivery Method: Email, Post or Both, if Email is selected an email address must be entered.
8. Copy of Owner Statement: Link up any other contacts to receive copies of the owner statements, the contact must exist in your account already. Add as many contacts as required.