How to Receipt Owner Contributions

This article provides steps on how to receipt funds received from an Owner as an owner contribution to a property. 

Firstly you will need to ensure there is a MISC lease set up under the property you wish to receipt the finds to.  If there is no MISC lease set up in the Property, a Trust Accountant user will need to create this following the steps here: Create a MISC Lease

Once a MISC lease has been created, you will be able to receipt your Owner Contribution following the below steps:

Go to Accounts Receivable > Receipts:

• Property - Select the property funds are to be receipted to 
• Lease - Select the MISC Lease
• Direct Deposit Name - Name of who made payment (as per bank statement)
• Receipt Date & @Bank Date - Enter the date funds were received
• Amount - Enter the amount received from the owner 
• Click on Add Credit / Sundry Receipt 
• Account - Select the Balance Sheet account code - e.g. Owner Contribution
• Enter the Description as required e.g. Funds Received From Owner
• Leave the From and To dates as the @Bank date
• Tax - Should be left as GST Free
• Tick Sundry Receipt (IMPORTANT - if this step is missed, see how to correct this here: Amount In Credit/Sundry Receipts)
• Enter Amount
• Click Add
• Click Process Receipt

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