Owner Statement Ending Balance Issues

Today we wanted to discuss owner statement ending balance issues. This issue can seem daunting at times, but we are here to help you breeze right through it. Here are the steps we use to determine a cash balance issue not already evident on the owner statements.

Steps to Diagnose the Issue

1. 1Pull up the owner statement in question and see the ending cash balance. For this example, we are going to use an owner with a negative cash balance after we paid him out this month.

1. 1We noticed on the owner statement that his ending balance after we paid him out was -$100.

1. 1After we have verified the owner is in fact showing an odd balance, we will go to his property page and determine which fees are suppressed.

1. 1Go to the reporting section and open a GL report. Run the GL for all time, or since 1900, and filter for the GL accounts that were suppressed on the owner statement.

1. 1Determine which GL accounts are not 0. Keep in mind, these suppressed GL accounts should have an ending balance of 0.

1. 1If you are showing a negative number, that means you need to collect that amount of late fees. If you do not collect that amount, the system will pay it to the owner.

1. 1Because the fee is suppressed, it does not show as income on an owner statement. If you do not pay yourself prior to paying the owner, AppFolio will pay out total funds held on property including suppressed money not paid to your company.