Account Setup - Owner Accounting Tab
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Go to Setup from the Upper Tool Bar, choose Accounts, and select the Setup button.  
 
Owner Accounting Tab: Only shows at properties using the RMS Trust/Owner Accounting module.  
 
OwnerAccountingTab  
 
Trust Account Required:  
If your property practices trust accounting (meaning you have a seperate physical trust account), this option should be chosen.  
   
Default All Receipts to Trust:  
All receipting in the system whether it be on the general account or the trust account will default to a trust receipt, allowing you to manage only one account with your banking reports within RMS.  
   
Default Credit Card Receipts to Trust:  
If you have your EFTPOS machine linked to your trust account this option should be selected. If your EFTPOS machine is linked to your general account do not select this option.  
 
Don't Print Trust Receipts Automatically:  
Stops the trust receipts from printing automatically, instead you receive a message box asking if you wish to print the receipt.  
 
Allow General Transfers Before Departure:  
This option allows you to transfer the income from sundry charges (payable to yourself) which have been receipted into your trust account to your general account before the reservation departs, however the reservation must be arrived.  
In essence transferring income that belongs to the manager from the trust account to the managers general account prior to the end of the month, this transfer is only for sundry charge income E.g. Ski Hire, Tours etc.  
 
Each Unit must have an Owner:  
If your property is full Trust Accounting and every area is owned you will be required to select this option.  
If your property is Owner Accounting where only some of your areas are owned you would not select this option.  
 
Allow EOM to be rolled withut running Pay Owner/Manager:  
Selecting this option allows you to roll over the end of month without actually performing any payouts to both the owners and the manager.  
 
EOM Owner Accounting Date:  
This date is to be set only once and is to be the last day of the first end of month to be performed. In order to change this date you would need to speak to an RMS Support person as the field is password protected.  
 
New EOM Expenses:  
This option should always be ticked.  
 
Charge RMSOnline Charges To Property:  
This option will only apply to you If you are using the RMSOnline module.  
By default RMS charges all Online booking expenses onto your owners accounts. This option changes that where the property will be taking on the Online booking expenses instead of the owners.  
 
Include Adhoc in Manager Expenses:  
Owners accounts in RMS and broken down into 4 categories,  
Owner Account - where all income to owner is displayed  
Manager Account - where all reservation expenses to the owner are displayed  
Adhoc Account - where 3rd party charges and maintenance charges are manually entered  
Suspense - RMS accounts used to hold charges prior to moving to the managers account  
 
In light of the above this option shows the charges from the adhoc account on the owners statement under the expenses heading.  
 
PABX Charges on Adhoc Account:  
This option tells RMS to create the PABX charges on the owners Adhoc account when that owner stays in there apartment.  
 
Print Duplicate Receipts:  
This option will automatically print duplicated trust receipts each time a trust receipt is processed.  
 
Calculate % Commission on Departure Charges:  
On Gross Tariff Income - Most common choice  
Meaning that any end of month commission setup as a % will calculate from the Gross income before other charges are taken out.  
On Net Tariff Income  
Meaning that any end of month commission setup as a % will calculate after the other commission have been taken from the gross income.  
 
Create Owner Income:  
All income creation options shown below still require that not only has the accommodation charge been created but that money has been receipted against that charge.  
If your property is partially long term and partially holiday stays then the below option should be select on which of the two have higher volumes E.g. if you have 10 long term areas and all others are holiday stays then you would choose on departure (fully paid) - create manager expenses on departure when fully paid.  
 
On Receipt

Normally used in long term situations where you wish to release income to the owner in the month that the receipt is processed. Prior to even the reservations arrival.
On Arrival

Will release the income to the owner in the month that the reservation arrives. Once the reservation is arrived the system will automatically change its owner payout status to "On Receipt"
On Departure (Fully Paid)

This is the most common option chosen by holiday stay properties.
The owner will not be released any income until the reservation has departed and also has fully paid there account.

Create manager Expenses on Departure
This option is only available with "On Departure (fully paid)" and only refers to the managers expenses;
Here the system will create the expenses on departure of the reservation regardless of whether the reservation account has an outstanding balance.
If the account is fully paid the expenses will be created directly onto the manger account.
If the account is NOT fully paid the expenses will be created onto the Owners Suspense account until such time as the reservation account is fully paid - when this occurs the system will automatically move the expenses from the suspense account to the managers account.

Create Manager Expenses on Departure when fully paid
This option is only available with "On Departure (fully paid)" and only refers to the managers expenses;
Here the system will only create the expenses once the account has been fully paid, those expenses will be created directly to the owners manager account
Pay Owner on Arrival if Res staying 28 nights or more

This option can be selected in conjunction with any of the above income options.
This tells the system that if a reservation is staying 28 nights or more to override the default owner income to pay out on Arrival.
 
 
Pay Manager By:  
EFTPOS - If chosen the RMS system will expect that you will transfer the funds from your trust to your general account by electronic transfer and will also include the payment to the manager in the ABA file created at the end of the month.  
Cheque - If chosen RMS will assume you will be writing a physical cheque payment at the end of the month and require a cheque number to assign.  
   
Trust Lots:  
This area should only be completed if your property utilizes Trust Pooling in order to pay your owners.  
Total No of Lots - Enter here the total number of lots for your property  
Search By/ Search - Both fields to assist you in locating the Master Owner account, this is the holding account for all income and expenses until they are dispersed at the end of the month.  
 
Owners Statement:  
5 columns that will appear on the owner statement, commonly used for Managers Commission, Credit Card Commission, Cleaning, Linen and Advertising.  
These selections are added through the grouping function of RMS - to add your account group headings see Groupings. Each heading can be no more than 6 characters long.  
These groupings are to be attached to the appropriate account codes under the Trust Grouping field.  
 
Show Future Bookings up to:  
Choosing this option will show the owner future reservation to stay in there apartment up to the date specified.  
 
Owners Statement Note:  
A global note field allowing you to display a note at the bottom of each owners statement. This note can be changed and updated whenever required.  
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