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How to Create Owner Statements by Asset in Clearing
How to Create Owner Statements by Asset in Clearing

Simplify the creation of customizable owner statements by asset with Clearing, ensuring financial clarity and transparency for your owners.

Corey Reid avatar
Written by Corey Reid
Updated over a month ago

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Accurate owner statements are essential for maintaining financial transparency, especially in vacation rental and Short-Term Rental management. However, generating separate, detailed reports for each asset often presents challenges. Many property managers struggle with time-consuming manual processes and lack the necessary tools for efficient multi-asset reporting.

Clearing simplifies this task by automating asset-specific statements, ensuring that property managers can easily create customizable owner statements for each property, meeting both business and owner expectations.

Note: For general guidance on creating owner statements, please refer to our article here.

Clearing streamlines the process of generating asset-specific statements for property managers, allowing for greater financial transparency and better owner statement management. By automating the statement by asset creation, Clearing enables property managers to provide detailed financial breakdowns for each asset, making it easier to manage Short-Term Rental statements and offer a clear rental income summary.

With Clearing’s customizable features, managers can produce clear and concise homeowner financial reports tailored to each property, ensuring owner-specific accounting and facilitating seamless asset-based accounting. This automation reduces manual work and eliminates errors, allowing for quicker and more accurate automated statement generation across all properties.

How to Create Owner Statements by Asset in Clearing

Step 1: Access the Statements Section in Clearing

Log in to your Clearing account and navigate to the 'Statements' section in the side menu, and from here, choose “Owner Statements”.

Access the statements section in Clearing

Step 2: Select the Homeowner Statement Type

Once in Owner statement section, you will see options to create statements either by owner or by asset. For statement by asset creation, choose the "By Asset" option.

Select the statement type

Step 3: Choose the Property Homeowner

Click on the dropdown arrow in Homeowner section and select the homeowner for whom the statement needs to be generated.

Choose the homeowner

Step 4: Choose the Property Asset

You can choose multiple assets for the selected owner or limit it to one asset per statement based on their preference for homeowner financial reports.

Choose the asset

Step 5: Set the Date Range

Define the statement's date range. The statement will reflect all recognized revenues & expenses for the selected asset(s) within this period.

Set the date range for the recognized dates you are considering

Step 6: Customize the Homeowner Statement by Selected Assets

You can further enhance the customizable owner statements by selecting the “Show summary by booking”, “Show summary by asset”, “Show summary asset and category”, and various other customization options. More customizations are also available in settings, so be sure to check there as well to change logos, branding, etc.

Customize the statement

Step 7: Review the Homeowner Statement by Selected Assets

After setting up, review the statement details, ensuring that all the rental asset overview information, including income, expenses, and any additional details such as management fees, are accurately reflected.

Review the homeowner statement

Step 8: Save the Homeowner Statement by Selected Assets

Once the statement is ready, click “Save this Statement.” You can also publish this statement if you’ve invited the owner to view it through the portal.

Save the homeowner statement

Step 9: Verify Saved Homeowner Statements

Saved asset-specific statements will show up in the saved statements list. The statements shown in the list will match the statement preferences of owner and asset, so simply choose an owner and asset and see the list of all the saved statements. When completed with a statement, be sure to lock the bookings to ensure no changes can be made.

Verify the details on the saved homeowner statements

Step 10: Mark Published and Paid (Optional)

After verifying you can easily mark the statement as published or paid with just one click. If you pay the owner using Clearing’s ACH payment feature, the statement will be marked paid. You can also send the statements by email or export them to pdf and/or CSV.

Mark published and pay the homeowner statement

Take full advantage of Clearing's powerful asset-specific statement feature!

With Clearing, you can easily manage detailed financial reports for each rental asset, providing transparency and accuracy that your owners expect. By automating the process, you can save time, eliminate manual errors, and offer clear, customized statements for each property. Whether you're managing multiple assets or just need to simplify your owner statement management, Clearing makes it effortless to stay organized and keep homeowners informed.

Ready to seamlessly create your asset specific statement with Clearing?

Connect with us today for a personalized demo, and discover how to create owner statements by asset in Clearing.

Explore our comprehensive knowledge base today to dive deep into Clearing's features and embark on a journey to revolutionize your financial management experience.

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

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