Commercial with V/O in Residential
Another Option is using the Residential program for Commercial however holding V/O funds on behalf of Lessor
In this instance, treat the Lessor/property the same as any residential.
2. Make sure default TYPE CREDIT is selected and hit the TAB button.
3. New A/C ID will auto select. (This will be your new Trust Account number and used in GeeDee System Setup).
4. Name A/C = Variable Outgoings for Property eg Applecross House V/O's
5. Comments = Variable Outgoings for Applecross House
1. Include Disbursement Code in System Setup of codes for each and every V/O Account. (The building Entity).
2. Ledger A/C is to be the same number as your newly created Trust Account Number. (Credit Account).
3. Link to Trust - Check Box Ticked
1. Can be done directly from Tenant Accounts. Append -> Invoice. (Same as for Residential).
2. Rents can be include or excluded.
1. Tenant Receipts. (Same as for Residential). These funds have now been credited to the Trust Account Ledger ID 110 "Applecross House V/O's"
To release these funds you must to a Trust account payment
1. Trust A/C - payment etc....
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