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To refund the minimum property balance first go to the property level (Properties> Manage
Properties) and change the minimum property balance to zero. Go to Accounting> Accounts
Payable> Expense Owner tab> select the office> highlight the property> highlight the owner>
make sure the Date of Transaction is correct> enter a Description> enter the amount> finally
click Expense. This will send a payable to the check queue so you can print a check for the owner
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Remove the property from all Web Groups it is in. To do this go to System Configuration>
Website> Web Groups tab> highlight the Web Group and click Manage> on the right side is the
selected properties, put a check mark in the box to the left of the property name and click the
“Remove” button.
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Next step is to make the property Inactive (only if the property does not have any future
reservations) by going to Properties> Manage Properties> select your office> highlight the
property and click Edit> under the Misc. tab change the Property Status to Inactive and Save. By
making the property Inactive it will not long appear under the Property List on the calendars.
If the property does have future reservations go into the calendar and black out the time frame
for the rest of the year, once all the reservations have come & gone then make the property
Inactive.
**When a property is inactive reports can be pulled for the property
Remove all guest charges, rent adjustments, owner charges & management charges from the
property. This can be done under Properties> Manage Properties> select the office> highlight
the property> click Manage Attributes.
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Once all the accounts associated with the property have zero balances then you can Archive the
property. To see if all the accounts associated with the property have zero balances you can pull
the Financial Account Balance report. (Accounting> Reports)
**Once a property is archived the owner attached is automatically ended as of the date the
property is archived and no reports can be pulled for the property because it will no longer
appear on under Property List
**A 1099 will populate for the owner of the archived property if they had rental income
** The only way to pull the owner statement for the year is to pull it from for example
1/1/2012-12/31/2012 for all properties then the archived property will show up.