NZ - How to Setup & Update Income & Expenditure Fees

Overview

Your owner Income and Expenditure fees can be setup up globally for all owners or for all owners currently being charged a specific amount and for individual owners.

Set Up or Update I & E Fee Globally

1. Backup your REST Professional data and rename it to before.global.change.dat.zip
2. Go to Other > Utilities > Global changes
3. Click OK to confirm you have a current backup
4. Click the Fees and Charges tab
5. In the Income and Expenditure charges section, you have the option to filter the owners for whom you want to set up or update the fee

• To update the charge for all owners, regardless of the existing fee amount, enter an asterisk (*) in the Old Value field
• To update the charge for all owners who are currently charged a specific amount, enter the amount in the Old Value field

6. Enter the amount to be charged in the New Value field
7. Click Change
8. Click OK to confirm your changes

NOTE: When the change has been made, check one or two owners to ensure that the correct fee has been entered

Setup or Update I & E Fee for Individual Owners

1. Go to  Files > Owner
2. Enter the alpha index of the Owner and press Enter
3. Select the  Taxes and Charges tab
4. Enter the Income & Expenditure Fee amount & click OK-F12

Setup an Internal Account for I & E Fees

If you do not have an internal account already set up for Income & Expenditure Charges, enter a new internal owner and property in Owner and Property Details making sure that:

• The alpha code starts with AA (i.e. AAINCEXP)
• All fees and charges are zero on the property and the owner
• In the Taxes and Charges tab of Owners Details, the account has been marked as internal and Account attracts GST has been selected. It should also be selected for revenue recovery and selected for payment at the EOM

Setup an Account Code for I & E Fee
If you do not already have an account code set up for Income & Expenditure Fee you will need to create one before charging the fee:

1. Go to Files > Chart of Accounts
2. Click on Add Mode
3. Enter an account code in the range of 401-499
4. Enter a Long and Short Description for example Income & Expenditure Fee & click OK-F12