Monthly and Annual Rhythm of Business

Overview

Security and Pet Deposits: All deposits are held in our Security Deposit Trust at Enterprise Bank & Trust St. Louis, MO. All funds are released upon move out or termination of the lease to the appropriate party.

Monthly statement: The owner draws normally happen from 7-9 of each month. On the 9th-12th of each month, we will send you the monthly owner statement through email. In the statement, you can see all the income and expenses. We strive to provide 100% of the receipt for expense items. This not only helps you to understand the expense but also helps your tax season.

1099 statement: We will provide the 1099 form the following January. This will be used for your annual income tax return.

Annual Cash Flow Statement: We will send you the annual income and expense statement in the following January so that you can prepare the tax return accordingly.

Monthly Statement

The Owner Statement is a simple cash-in, cash-out report meant to help owners understand their monthly distribution and property balance, and see unsuppressed financial activity in the operating cash account in a specific time frame.

Transactions Section

This section displays the details of transactions that occurred within the statement date range, except suppressed fees and prepayments if you choose to suppress prepayments. If some transactions are dated the same day, there is not a way to change the order they appear.

• Transaction date, name, type, GL account name, description, and amount are included. A running balance is maintained on the right.
• Non-cash transactions do not appear, such as zero-dollar receipts applying credits to charges, and journal entries that do not touch the operating cash account.
• The Owner Statement uses the terms Income and Expense as column headers but should be considered Cash In and Cash Out of the property.

Unpaid Bills, Property Cash Summary & Remit Balance Due

• The bottom of the Owner Statement displays unpaid bills dated in the statement date range.
  ​
• The property cash summary shows funds held for the property reserves and prepayments, if any.
• Remit Balance Due is the amount of funds required to cover all unpaid bills, reserve funds, and prepayment balances when the ending cash balance alone is not enough to cover these items. To remove this line item, see Customize Owner Statements for instructions.
  ​

If you love our service, give us a shout out here. If you have some feedback to us, use the same link. We are always here to listen and improve our service!