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How can I generate an owner statement?
To generate an owner statement, select a homeowner, choose a time range, and Clearing will compile all relevant bookings and expenses for that period into a summarized statement. Owner statements leverage both your Booking data from your Property Management System and your Transaction data to add expenses. Hereâs a step by step guide:
Navigate to Owner Statements:
Once logged in, navigate to the "Owner Statements" section.
Select Homeowner:
Choose the homeowner for whom you want to generate a statement. This is done through a drop-down menu.
Choose Time Range:
Specify the time range for the statement. This will determine the period for which you want to include bookings and expenses in the statement. Use the recognized date of bookings within this range.
Review Bookings:
Clearing will display the bookings and expenses for the selected homeowner within the specified time range. Review the list to ensure it includes the relevant transactions. Transactions need to be marked âto ownerâ with the accounting field. They also need to be attached to the right owner and category.
Control financial lines:
Clearing allows you to control which booking financial lines are displayed on the statement. You can choose to show lines that go to the owner, to management, or exclude specific lines. Adjust these settings based on your preferences. Review the Rules video to understand how you can automate those settings.
Verify Commission Calculation:
If there is a commission involved, verify that the commission percentages are correct for each relevant line. Ensure that the commission is calculated accurately based on the defined rules.
Save Changes:
If you made any adjustments, be sure to save the changes to the statement. This ensures that the statement reflects the desired configuration for the selected homeowner and time range.
Generate the Statement:
Once you've reviewed and adjusted as needed, click on the option to export the statement via the 3 dots icon. Clearing will compile all the information, including bookings, expenses, and commission details, into a PDF.
Save Current Statement:
Make sure to click "Save current" to save the statement in the database as it is. This will ensure that balances by owner are properly being carried over from one month to the next.
Preview the Statement:
Before finalizing, you may have the option to preview the statement. This allows you to see how the statement will appear to the homeowner. Verify that all details are accurate.
Send the Statement:
If everything looks correct, proceed to send the statement. Clearing offers options to send the statement by email directly from the platform. Provide the homeowner's email address, customize the email body if needed, and attach any relevant receipts.
Pay the owner:
You also have the option to pay the owner the net amount displayed in the statement. Please watch the video about payment to learn more about paying with Clearing.
Confirmation and Record Keeping:
After sending the statement, ensure that you receive a confirmation. Keep a record of the sent statements for your records.
How do I decide which bookings are included in a statement?
Bookings are included based on the recognized date within the specified time range. You can also control which lines are displayed, distinguishing between those going to the owner, management, or excluded. You also have the option to fully exclude a booking from a statement with the âin statementâ checkbox on each booking.
What kind of financial information is displayed to owners?
Owners see a summary of bookings, expenses, and net amounts owed. The statement displays revenue, expenses, commission, and a breakdown of financial details for each booking.
How can I add expenses to owner statements?
You can add expenses to owner statements by including relevant transactions from the transaction financials section and categorizing them with the accounting field set to "owner." Make sure to attach those expense to the right homeowner and category.
Can I display additional information on each booking without including them in the owner payout?
Yes, you can display additional information on each booking by using the "to management" option and owner visibility column set to âvisible to ownerâ, which allows transparency without impacting owner payouts.
Can we split a booking across 2 statements?
Yes, you can split a booking across two statements by adjusting the recognized date and controlling which part of the booking appears in each statement. Click on the 3 dots of a booking and click âsplit this bookingâ. We recommend watching the booking video for more information.
How is owner statement different from management statements?
Owner statements focus on displaying information relevant to homeowners, including revenue, expenses, and net amounts owed. Management statements include booking financials and transactions with the accounting field âto managementâ.