How to set up Unit Owners for Reconciliations

Advanced Options Enabled:

To use Unit Owner Reconciliation, you must have items enabled on your account. These are:

• Unit Owner Reconciliation
• Multi Property

Contact Seekom Support to have these added to your account.

New Property:

Go to Manage Property, and select New from the bottom of the page.

Create a New Property inside iBex, called "Owner Reconciliation".

Ensure it is set to Item Only, and Save.

New Extra:

Go to New Extra, and select Internal Admin or Accounting Use Only.

Select a pre-listed Category (or create a new one by clicking on the Category hyperlink)

Create a Name (eg "Owner Expenses") and Short Name for internal iBex use (eg "Owner Exp") and Save.

Create Unit Owners:

Go to New Unit Owner.

Create an Owner ID and Owner Name for the owner you are wanting to set up (eg "johnsm" and "John Smith").

Fill out as much information of your owner, and select your extra created above as the Accounting Charge Code.

Set the Owner Commission percentage, and Save.

Repeat for all your owners. 

Apply your Unit Owners to their corresponding Units:

Go to Search Units, and click on the red ID of the first unit.

Under the Owner heading on Details tab, select the correct Unit Owner from the drop-down list and Save.

Click on the <></> Return to Search at the top of the page, or use the Jump To: in the top right corner to go to your next unit.

If you have an owner with several units, but you need to override the commission percentage against a specific unit, you can do so in the Unit Owner Commission (Override Default), otherwise leave blank to use the default percentage that was set up on the Unit Owner.

Go to Account Details, and click on blue hyperlink Unit Owner Reconcile Preferences.

Select the Reconciliation property as the Charge Property.

Select the Reconcile Income Charge Code as the extra you created above, and Save.

Adjust other options as required.