The Owner Statement 

The Owner Statement is a simple cash in, cash out report meant to help owners understand their monthly distribution and property balance, and see unsuppressed financial activity in the operating cash account in a specific time frame.

Property Summary Section

The Property Summary displays a property's Beginning Balance as of the statement start date, then lists Cash In (income), Cash Out (expenses) and the Ending Balance as of the statement end date.  

Unpaid bills, prepayments, property reserves are subtracted from the Ending Balance to show the owner how their distribution is calculated.  If any of these totals equals $0, the line item won't show in this section.

The Cash Out balance is calculated by subtracting the management fees & owner disbursements from the Cash Out Balance at the bottom of the statement.

Transactions Section

This section displays the details of transactions that occurred within the statement date range, with the exception of suppressed fees and prepayments if you choose to suppress prepayments. If some transactions are dated the same day, there is not a way to change the order they appear.

  • Transaction date, name, type, GL account name, description and amount are included.   A running balance is maintained on the right.

  • Non-cash transactions do not appear, such as zero dollar receipts applying credits to charges, and journal entries that do not touch the operating cash account.

The Owner Statement uses the terms Income and Expense as column headers, but should be considered Cash In and Cash Out of the property.

Unpaid Bills, Property Cash Summary & Remit Balance Due

  • The bottom of the Owner Statement displays unpaid bills dated in the statement date range.
    The property cash summary shows funds held for the property reserves and prepayments, if any.

  • Remit Balance Due is the amount of funds required to cover all unpaid bills, reserve funds, and prepayment balance when the ending cash balance alone is not enough to cover these items. To remove this line item, see Customize Owner Statements for instructions.