Before you can run this function, you need to set it up.
You should pay management fees once a month as the Pay Management Fees function calculates the fees for the current operating month.
To pay management fees
Go to Accounting > Accounts Payable > Pay Management Fees.
Complete the screen.
You can run the feature for one property at a time, or you can leave the Property field blank and run it for all properties.
Select the Late Fee Account if you want to pay over all the late fees to your management company.
Click Display.
The report shows the payables that will be created, one line for each property.
Click Post. Breeze creates the payables. An example is shown below.
The Cash Account used for the payable is the GL account that is linked to the Primary bank account for that property.
The screenshot shows the Bank Accounts tab of the Property screen: boc is the primary bank account, and it is linked to 1110 Operating Cash, the cash account for the payable.
Paying Management Fees for Past Months
The function calculates management fees for the current operating month. If you need to record fees for prior months (for example, when you are setting up initial data in Breeze), create manual transactions (payables).
Recurring Management Fees
Click the Repeat button to save this Management fee payment as a template, and then you will be able to run it on a regular basis (typically monthly).
