Codes / Disbursement and BOMA
Excluding rent, all income in and expenses from an Lessor must be connected to a Dissection Category which is posted to a Trust Account Ledger.
Similarly for a tenant all accounts are connected to a Disbursement Code.
For a Commercial V/O Account, they must be connected to a BOMA Code.
A full set of these categories and codes are provided with the program and may be edited and appended on the codes page of the System Setup program . As the full list of BOMA codes is very comprehensive, many of the codes are never used and can be confusing to the user. For this reason, it is possible to make a code inactive. In system setup, there is a" In Use" checkbox next to each code. If a code is not ticked in use, it will not appear in lookup lists in the main program.
New dissection categories and disbursement codes can be added. To enter a new code, go into System Setup > Codes > highlight the last Residential code under Residential Properties Group > click insert > enter the description of the code and complete other information if required.
Note: These codes must be in numerical order and there is a limit of 99 codes.
If it is a Lessor dissection category and money is going to the Trust you must tick to Trust and link to a Trust Ledger eg Annual Summary Statement
If it is a tenant disbursement code and money is going to the Trust you must tick to Trust and link to a Trust Ledger.eg Credit card fee/ dishonour fee.
If it is a tenant disbursement code and money is going to the Lessor you do not tick to Trust and do not set up a Trust Ledger.eg window cleaning.(The Lessor is been re-imbursed for an account due by the tenant).
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