Owners > Disbursements

A disbursement is a payment of money from the property manager to their owner clients.

By default, the disbursement screen opens blank.  You can use the filter section at the top of the screen to review and select previously created disbursements.

The Add button calculates the fees and payment amount for a single owner.  The Add Bulk button will automatically calculate the fees and disbursement amounts for all owners.  Both methods use the same fee calculation.

Existing disbursements can be reviewed and edited if required.  The delete button can be used to delete a disbursement.  If a disbursement for an owner is deleted, the next time a disbursement is done to that same owner the period just deleted will be re-disbursed again.  This can be handy if errors are found for an owner prior to the owner being paid.  The disbursement can be deleted and recreated again.


Single Disbursements

The single disbursement screen allows you to select the owner you want to disburse money to, and the date up until which you want to calculate disbursement amounts.  This can be a date in the past.  For example you might want to do the disbursements up until 31 January, but you might not have time to do this until the 3rd of February.  By selecting a date in the past, all activity past this date will be ignored, and will be picked up in the next disbursement.

After selecting the owner and date, the system will automatically calculate the fees and the amount to be paid to the owner.  The Calculation and Transaction panel in the middle of the screen shows evidence of how these numbers have been calculated.

The fee is calculated as either a percentage of the rent received or a fixed value.  This is defined on the owner details screen, and can be different for each owner.  Also added to this is the sum of the extra fees.

The amount to be paid to the owner is calculated as the total income less the total expenses less the total fees.

At this point the user can manually over-ride the disbursement amount and fee amounts if required by pressing the over-ride button.  This is not recommended.  If you press the over-ride button, you will need to enter a note before the disbursement can be saved.

Also as part of the disbursement a reserve amount can be retained.  A reserve amount is a sum of money retained by the property manager to cover costs which may be incorrect.  The amount of reserve is set on the owner details screen.

The Bank account specifies which bank account the money is being removed from, and the payment method specifies how it is being paid.  The notes are optional can can be used for any purpose.


Bulk Disbursements

Bulk disbursements follow all the same parameters and calculations as single disbursements, however they can be done all at once saving time.  This is the recommended method.

To start the bulk disbursement calculations, like single disbursements you need to specify the disbursement date, and also the bank account which the money will be removed from.

After selecting the date, the system will calculate the disbursement values.  You can choose to exclude certain owners by unticking the Include column.  You can also review each individual disbursement by clicking the owner column.

The commit button will save all the ‘included’ disbursements.