Example Situation:
You previously charged an owner for an expense, the amount was included in their owner payout, and now you need to return funds to the owner. Follow the steps below to properly credit the owner and ensure accurate reporting.
1. Create an Invoice for the Property
Start by creating a new invoice for the affected property.
Set the payee as your Property Management Company.
Enter the amount you need to credit back to the owner.
This invoice represents the reduction to the owner's previous payout.
2. Add Notes for Clarity
In the invoice notes section, include a brief explanation for why the credit is being issued.
This helps your team understand the adjustment.
It also provides future reference if the transaction needs to be reviewed.
3. Transfer the Real Funds
Move the actual money from your Primary Account to your Rent Trust Account.
This ensures the trust account reflects the funds being returned to the owner.
Make sure the transfer amount matches the invoice amount.
4. Mark the Invoice as Paid in Propra
Once the real funds have been transferred, go to your Receivables page in Propra and post the invoice as paid.
This step records the credit in the system.
It also ensures trust accounting remains balanced.
5. Review the Owner Payout Report
After posting the invoice, the credit will automatically appear in the next Owner Payout Report.
The owner will see the adjustment as part of their updated payout.