Understanding Internal Account Transfer Balances

Overview

This document will assist you to understand the internal account transfer balance and how it accumulates with automatically generated management fees, as well as understand how this shows on management reports.

This document will cover:

• How the Internal Account Transfer Balance Occurs and Accumulates
• Report to Identify Management Fees Collected by Property
• Example of the Management Fees Collected Report

How the Internal Account Transfer Balance Occurs and Accumulates

Internal accounts for management fees and GST have an accumulative balance which appears on the internal owner ledger as ‘Internal account transfer’. You can view these ledgers at any time throughout the month or historically.

1. Go to Reports > Owner > Ledger Report
2. Click on Select and select the Internal owners you require, i.e. AAMANAG
3. Select the Period Range you require i.e. Current Period Only
4. Click Preview-F11

This figure is automatically updated each time management fees are collected on a rent receipt or invoice receipt (where there are management fees charged on a tenant invoice).

NOTE: Disbursement fees and supervision fees also add to the internal account transfer balance

Report to Identify Management Fees Collected by Property

To be able to report on the fee breakdowns by property that are made up of the Internal account transfer amounts you will need to view the Management Fees Collected report.

1. Go to Reports > Management > Management Fees Collected Report
2. Select the Month to Print for the month you are looking into
3. Click Preview-F11

Example of the Management Fees Collected Report

The balance of AAMANAGE internal account transfer should equal the grand total of management fees collected.

NOTE: These fees are all GST Exclusive