Creating a Payable Batch for Owner Draws

Use Pay Owner to create payable invoices for owner draws. Voyager calculates the amount available for owner payments from the current balance in the main cash account, less any reserves defined on the property Ownership screens.

Unless you pay owners a flat amount, owner payments can exhaust the main cash account except for the property cash reserves. Pay owners only after writing checks for all expenses, including management commissions.

To pay owners

1	From the side menu, select Payables > Pay Owner. The Pay Owner filter appears.

2	Complete the filter:

Property Type or select a property code.

Draw Acct Type or select the G/L account for paying owner draws.

Draw Type Select the way you want to post your owner payments.

Pay Deposit This option pays owners their share of the balance in the main cash account, less any reserves. Deposits are the YTD totals of all G/L accounts with the Resident Deposit check box selected in the Account Info screen. Voyager includes any deposits held in the main cash account.

Hold Deposit This option pays owners their share of the balance in the main cash account, less any reserves. Voyager does not include deposits held in the main cash account.

Flat $ Amount Unless your organization has defined ownership as number of shares, Voyager defines each owner's share as a percentage of the property. When you post, this option multiplies the flat amount by each owner's percentage owned, as defined in the Ownership screen. If your organization has defined property ownership as number of shares, Voyager multiplies the flat amount by each owner's number of shares, as defined in the Ownership screen.

Amount Type an amount in this field only if you selected Flat $ Amount as your Draw Type. Type the monetary amount you want to pay owners.

Invoice Date Type the recording date for the owner invoices.

Post Month Type the month the owner payments affect the G/L (mmyy).

Payable Notes Type text to appear in the Notes field on the invoice.

3	Click Submit. Voyager posts owner payments in a payable batch and displays confirmation.

The payable batch number appears as a link at the end of the confirmation. You can click the link to review the payable batch. You must post the batch to complete the process. See “Posting Payable Batches”.