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As a property manager in the Short-Term Rental and vacation rental space, keeping owners informed with accurate financials can be a challenge, especially when dealing with multiple properties and owners. The process of generating owner statements at scale can be complex and time-intensive. However, Clearing’s owner statements offers a streamlined solution for property managers, enabling efficient bulk statement creation, enhanced statement completion speed, and smooth bank reconciliation. This tool integrates seamlessly with property management software (PMS) systems, ensuring that all owner payments, financial reporting, and booking reconciliation needs are handled in a centralized, user-friendly manner.

Clearing’s owner statement feature offers an efficient, automated solution for property managers to generate, review, and distribute accurate owner statements at scale. This bulk creation tool not only saves time but also ensures precise disbursements, automated receipt management, and the convenience of statement publishing to a dedicated owner’s portal. It’s an essential feature for those looking to manage multiple owners who rely on easy and concise financial reporting.

Login to your Clearing account and navigate to the bookings section. Here, select individual or multiple bookings and click on the “refresh button”.

This refresh syncs all booking financials from your Property Management Software (PMS), ensuring that any updates are reflected in the statements.

Go to the “Reporting” section in Clearing and choose the booking reconciliation option.

Here select the date range of the month for which you’re generating owner statements and click on “Generate” button. To see the individual bookings, and verify that each have been fully paid, use the “By Booking” method of aggregation.

Confirm all bookings are fully matched in green, ensuring that expected payouts align with actual payments received in your bank account. This step is vital for bank reconciliation and helps avoid discrepancies in owner disbursements and overall statement accuracy.

Navigate to the transaction menu option, and click “menu” at the top right of your transaction list, then click “Reconcile an account”.

Select the bank account, the date range of the bank statement to be compared against, and confirm your starting and ending balance from the bank statement.

Click through the charges, adding the totals to the reconciliation calculations, and confirm that all transactions are correctly categorized and tied to the right asset and accounting fields.

Last, confirm that all the transactions added to the reconciliation record balance with the starting and ending balances of your bank statement. Confirm that all transactions are accounted for properly. If there are duplicate charges from a vendor, or discrepancies in the reconciliation, you may need to connect with the merchant of record to resolve. Once complete, you can save a history of reconciliations, or export the reconciliation if you are required to file it with your trust accounting records.

Go to the “Statements” section in Clearing and select “Owner statements” and “All owners”. This will be where you can centralize all owner statements and manage them at scale.

In this view, you can check any previously created statements and adjust date ranges or filter settings as needed to find the relevant statements easier.

Click the “Create” button.

In the new pop-up window, set your date range (e.g. November), and select “All owners” to initiate bulk statement creation. If you would like to do a subset of owner statements, you can also select the individual owners you would like to create statements for.

Check the box to include summaries by asset and category if needed, as these details can improve financial transparency by organizing information based on each owner’s asset portfolio and your categorical preferences (based on your categories and category groups).

Finally click on “Create” button.

Once the statements are created, review each owner statement for statement accuracy before proceeding. For this, click on the “PDF” button or “Open” button. The PDF will download the statement and “Open” will open it in a pop-up within the software.

This step helps ensure that all financial reporting is accurate, which is essential for smooth operations in your Short-Term Rental property management business.

You can click on the box to the left of each statement, or select the box in the header which will select all statements as per the filter settings, to select the generated statements that you are ready to pay. Click on “Pay” button to open a pre-filled payment form and send money via individual ACH transfers out of your external bank accounts, or the internal master bank account within Clearing. Clearing can initiate payments directly from within the system. Owner’s account details and payment information can be saved as recipients within the software for easy money movement practices. Owners can update this information securely through our homeowner’s portal.

For peace of mind, select the correct “From” account (default payment account) and confirm the “To” account assigned to each owner. Also audit that all amounts and form details are correct.

Finalize the payment by selecting Review and Confirm, ensuring funds are accurately disbursed using ACH transfer technology and aligned with bank reconciliation records.

Click on the relevant boxes to select the statements you wish to add to the owner portal, then click the “Publish” button to upload all finalized owner statements to the owner portal. This enhances financial transparency and gives owners access to view their statements directly, whenever they desire.

If owners aren’t yet invited to the portal, go to “Settings”, click on “Team”, and then choose “Add New Team Member”. Be sure to select the team member type as “Homeowner”. This permission level provides a convenient and centralized way for owners to track their payouts and financial reporting with ease.

Download statements as PDFs or export them to Excel for backup or further financial reporting. This export function is particularly helpful for allowing you to do more with the data, like processing asset financial projections, and/or examining past financials for decision-making purposes.

Explore Clearing’s owner statement feature to streamline the generation of owner financial statements at scale, providing owners with the transparency they expect.

Are you ready to simplify your owner statement generation process?

Contact us for a personalized demo and learn how to create owner statements at scale in Clearing, with ease!

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Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.