OAS NOT SUPPRESSING 100% MGMT FEE ITEMS

Owner Activity Statement not suppressing 100% Management Fee items although the "Show 100% Mgmt Activity" is unchecked.

SOLUTION:

To use this feature you must run the Management Fee Calculation process to calculate your fees. 

The Payable created by the Mgmt Fee Process must then be paid in full.  (This process will not work if you create the Payable for  your Management Check manually, vice the Management Fee Calculation process.)

Here is what needs to happen before management fees are removed from the Owner Activity Stmt:

1)   The Owner Activity Statement date range must include Management Fee check created by the calculation process and ALL of the transactions that it was calculated on.

2)  The total amount of 100% receivables need to equal the total amount of the Mgmt. Fee EXPENSE RECOVERY line(s).

Reasons why they would not equal:

1) The Payable for the Mgmt. Fee check was adjusted.

2) One of the transactions that the Mgmt. Fee was calculated on was deleted or backed out.

3) The Date Range for the Owner Activity Stmt. does not include all of the 100% receivables or the Mgmt Fee Check.

The 100% Management Fee item suppression will only work if the items were received and paid out in the date range of the Owner Activity Statement.

Example:  If Late Fees are setup as 100% Management Fee items (meaning they all go to the Management Co. and nothing to the Owner), and on 10/31 a Tenant pays a Late Fee, on 11/6 another Tenant Pays a Late Fee, on 11/30 you run the Management Fee Calculation Process which will create a Payable to the Management Co. that includes all the late fees paid by Tenants.

                                                                                        Cash Balance

   10/31 Tenant #1 pays $50 late fee                           +50

   11/06 Tenant #2 pays $50 late fee                           +50

   11/30 Mgmt Fee Calc Process                                 -100

              (payable to mgmt co)

If you print the Owner Activity Stmt using a date range of 11/1 thru 11/30, the 100% mgmt fee items can not be suppressed because it has to include the 10/31 Mgmt Fee which is outside of the date range of the statement.   All the 100% items coming in, and going out must be included in the date range of the statement for the suppression to work.

You can increase the OAS date range to include all items, or always make sure you receive and payout all items within the date range of the statement you normally print.

If you backout an item (Tenant Payment) that you already calculated a Management Fee on, it may also stop it from suppressing on the Owner Activity Statement because the Fee collected will not match the Payable paid to the Mgmt Co.

If you have any questions please call, e-mail or fax our Technical Support group.