The Uses Property Manager’s Book setting controls which company records transactions created with an item and which operating account receives or pays the money.
For example, a property may belong to Oak Street LLC while Citywide Property Management manages it. Rent usually belongs on Oak Street LLC’s book. An application fee that Citywide keeps may belong on Citywide’s book instead.
Set an Item to Use the Manager’s Book
Go to Tenants and click New Invoice.
Open the Item dropdown, scroll to the bottom, and select Manage.
Click the pencil icon next to the item you want to update.
Check Uses Property Manager’s Book and click Submit.
If a confirmation appears, click OK.
What the Setting Changes
The transaction defaults to the manager’s company. If a prospective tenant is charged a $50 application fee for an Oak Street property, an Application Fee item with this setting checked records that charge on Citywide’s book rather than Oak Street LLC’s book. The tenant still owes the fee; the setting determines which company records it.
The default follows the item wherever it is used. It applies when someone selects the item on a transaction form, when an automated process creates a transaction, and when a schedule generates one. For example, if a scheduled monthly $15 administration fee uses a manager-book item, each generated charge defaults to Citywide’s book.
The operating account follows the company. When the tenant pays the $50 application fee, Property Matrix resolves the payment to Citywide’s operating account rather than Oak Street LLC’s account. The same principle applies to money paid out on a transaction using a manager-book item: it defaults to the manager’s operating account.
Changing an Item That Has Been Used
Once any transactions have been created with an item, Uses Property Manager’s Book cannot be checked or unchecked. For example, after the first application fee is recorded, you cannot switch the existing Application Fee item from the owner’s book to the manager’s book while those transactions still use it.
To change the setting, first move all dependent transactions to another eligible item. See Moving Transactions to Another Item for the transfer steps and restrictions.