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This article accompanies our instructions for adding a transaction. During this process, you will be prompted to choose the type of transaction you would like to add. Read the information below to figure out which transaction is most relevant to your accounting needs.
Choose this type of transaction when an owner charge is made on the trust account
Example: The owner was charged for fixing a broken bed.
The "PMC share" field should be set to at least 1% to be included in the PMC earnings report.
Choose this type of transaction when a relocation between two listings from different owners is needed and each owner should receive a payout.
Example: There was a flood at owner A's property, and the guest needs to be moved to owner B's property, and the income from the reservation needs to be transferred as well.
Payment from owner
Choose this type of transaction when an owner makes a payment.
Choose this type of transaction when a charge is made on the operational account that you can charge the owner for. You can add any general expense and give it directly to the vendor if needed, and you can also split the charge between the PMC and the owner.
Example: An expense for replacing a lock was paid to the maintenance vendor.
Choose this type of transaction when you refund or charge any amount to the owner that cannot be reported through any of the above types of transactions.
Example: If you pay the owner more than needed, you can debit them for the extra amount.