The Accounting (Financial) Settings in Propra allow you to configure how your accounting system operates, ensuring accurate reporting, proper transaction mapping, and compliance with financial requirements.
You can access Financial Settings by:
Going to Settings → Account → Accounting tab
ORNavigating to Accounting → Accounts → Financial Settings
Note: You must have Books Admin permissions to make updates.
Company Information
The Company Information tab allows you to set up key details for your organization.
Key Settings:
Fiscal Year End - the system will recognize this date for reports
General Receiver - the system will list this vendor when completing the GST Remittance task in accounting
GST Filing Frequency - the system will recognize this date for reports
GST Settings (auto-calculated based on company address)
Closed Period
Prevents accounting entries from being made before a specific date. Select the Update button and then enter the Closed Period date desired
Include Disabled Records
Option to include disabled properties and owners in accounting workflows
Important:
GST is calculated based on your company address.
To update this, go to:
Settings → Account → Account
Account Mapping
The Account Mapping tab allows you to:
Automatically map transactions to the correct accounts
Use account descriptions to define mapping rules
This helps streamline and standardize your accounting processes.
Fee Mapping
The Fee Mapping tab is where you:
Map monthly lease fees (e.g. utilities, parking)
Assign them to the appropriate GL accounts
For creating monthly fees, see: Lease & Unit Settings
Charges Mapping
In the Charges Mapping tab, you can:
Create charges and deposits by selecting the + Add Charge button in the top right - allows charges and deposit records on the resident financial ledger to allow book user roles to complete accounting tasks
Set default amounts - this will create an automatic set amount when the charge is created
Define approval limits - this will send the charge or deposit to the approvals page before being added to the ledger
Map transactions to the correct accounts
Important:
Revenue accounts → create invoices
Expense accounts → create bills
If charging a tenant results in a credit, review the account type being used.
Maintenance Billing
The Maintenance Billing tab controls how maintenance-related costs are handled.
Key Settings:
Auto Billing
Automatically closes requests 24 hours after the last visit
Generates associated payables
Labour Rate & Material Markup
Minimum Time per Visit
Approval Requirements
Track Maintenance Revenue
Enable this only if you are doing admin/company accounting
Do not enable if you are only managing property-level accounting
Category Customization
Customize billing by maintenance category
Override:
Account mapping
Labour rates
Markups
Select Add Category to configure
Accounting Tasks
The Accounting Tasks tab allows you to configure:
Management Fees
Option to track management fee revenue
Only enable if doing admin/company accounting
Choose how fees are calculated:
Revenue charged
Lease revenue collected
All revenue collected
(Some options allow inclusion of additional monthly fees)
Print Cheques
Set the default cheque placement for the Print Cheque task
NSF & Return Payments
Select who will be receiving the revenue for the payments:
Property, Admin Account, or Custom.
When Custom is selected you can choose which property and owner
Income Payout Options
Configure how payouts are calculated:
Omit payables from payout
Payables won’t reduce payout
Hold prepaid receivables
Prepayments/credits are deducted
Hold payables outstanding as of posting date
Holds funds for payables due at the time of reporting
Key Things to Know
Financial settings control how transactions are recorded and reported
Permissions are required to make changes
Mapping ensures accurate accounting and reporting
Some options (like revenue tracking) should only be used if managing company-level accounting