Accessing Owner Statements
There is now a new menu item for Owner Statements under the parent menu "Reports"
Owner Statement Generation
- Click to choose a preset date range or enter a custom date range.
- Choose a Property Owner (note owner accounts must have been set up and properties assigned to the owner for any options to appear here). Also, multiple owners can be selected. All owners is also an option.
- Choose the format of the statement (Excel or PDF).
- Choose the orientation of the statement (portrait or landscape).
- "Save to owner account" will save the generated statement to the owner account.
- Choose "Individual Statements" to generate individual owner statements. The option for "Summary Statement" will only be made available if all owners are selected. A summary statement will reflect all rental activity, work orders and rental expenses for all owners on one statement. Summary statements cannot be emailed.
- Choose to "Download" or "Send" the statement(s). If multiple statements are being generated, a zip file will be created containing the individual statements. If just one statement is generated, it will download as a PDF.
There are two types of settings for owner emails and owner statements.
Allows the default subject and message to be set. This is for when an owner statement is generated and sent to the owner by Lodgix.
1) Set the font size of the statement, which can result in more information being displayed on one page.
2) Disable columns. Some PMs might not require some data to be displayed to the owner, those columns can be disabled.
3) Set Column Width. Reducing or increasing column widget might help with readability or with fitting more information on one page.
Overview of an Owner Statement
The Owner Statement is calculated using completed reservations only and can be computed using either preset or custom time periods. Thus a reservation that begins their stay in June and ends their stay in July will only show up on the July owner statement.
The Owner Statement can be calculated off of Gross Rental Revenue or Net Rental Revenue. Gross Rental Revenue contains rents only, it does NOT include any fees or services which have been added to the guest invoice. This will allow a clean number to be generated. The setting for gross or net rental revenue is set within the settings for each property owner as defined within the Property Management Module.
The Owner Statement is broken out by properties and sort by the arrival date for each property. Any taxes that are setup within Lodgix for each property will be broken out on the statement. Owner Blocks are also displayed on the statement.
Any fees that are setup within the property management module by the property manager to be assessed to the owner will be broken out and subtracted from gross rental revenue to arrive at a net rental revenue number.
Management commission percentages are displayed and the total commission generated is derived from either a % of gross rents or a % of net rents depending on what the property manager has setup for the property.
Net to owner is the amount remaining after rental commissions are subtracted from either gross or net rents.
Work Orders / Rental Expenses
When work orders or rental expenses are assigned to an owner with Lodgix, they will flow through to the owner statement and be broken out in their own respective sections of the owner statement.
The Statement Summary provides a brief overall summary to the property owner .
Property Owner Documents
Owner statements generated from the application will show up in the owner account if the "save to owner account" option was selected at the time the statement was generated. Property managers may wish to store receipts / invoices in the owner account. Pretty much any type off file can be uploaded into the owner account allowing the owner to login and view those files at their leisure.
- Choose a folder where the document should be stored (or create your own)
- Choose a file to upload via the file upload icon.
The purpose of the current implementation of the Owner Statement functionality is to aid the property manager in the manual creation of an Owner Statement. Future enhancements will greatly build upon the current functionality.
Items that are planned to enhance the Owner Statements in the near future:
- Ability for a Owner Statement to carry a running balance
- Ability to record date and check # or automatic transfer was completed for balance due to owner
- Possible option to include YTD totals on owner statements