Tracking management fees

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Stephanie Sanders

February 25, 2016 16:48

Is there a way to track management fees per unit -monthly or yearly for CPA's?

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• Official comment

  

  Eric Shollenberger January 18, 2023 09:06

  Hey Whitney, I have good news for you.  As it turns out, we already had a full implementation spec on this feature.  As a result, we were able to get this implemented in short order!

  To make use of this new setting, you'll want to go to your Company button at the top, then Settings > Property Management.  From the "Property Management" tab, you'll check to enable "Expense management fees to units".

  After enabling this option, when you're generating your management fees and distributions, the management fee expense will now be line-itemed for each respective unit.

  Keep in mind that this only applies to future generated management fee payables/expenses.  If you have any questions or concerns, let us know!

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  Jacob Thomason February 25, 2016 22:11

  Hey Stephanie, currently if you're using the Property Management "wizard", the system generates a payable/expense on a per owner basis.  You can, of course, add management fee expenses outside of this wizard that are expensed to the individual units.  This would allow you to see the management fees on your owner statements at the unit level.
  
  Lastly, I can say that we've had requests for the wizard to assign management fees at the unit level and this is something we have on our internal feature list.  You might consider adding this to our feature requests page as well.  Hope that helps.  Thanks!

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  whitney quin January 16, 2023 16:40

  Did this feature ever get added? It is a vital piece of reporting

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  Jacob Thomason January 18, 2023 00:06

  Hey Whitney, we don't have a setting for assessing at the unit level with the wizard.  However, I've raised this issue with our dev team to get an idea on timing and they're taking a look for prioritization.

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  whitney quin January 18, 2023 00:55

  Thank you for the response. I hope they find this a high priority as our owners need this breakdown for their taxes and to have to do this outside of the income reports makes that report inaccurate and it just is not professional.

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