Processing Management Fees

This section describes how to use the Management Fees feature to pay management fees. You can also use the Pay Commission feature to pay management fees. For information and the differences between the two features, see “Property-Management Fees Overview”.

You set up management fees by creating fee pools and associating those pools with properties. For more information, see “Setting Up Management Fees”. When you process management fees, Voyager pays the percentages and flat amounts specified in the fee pools associated with each property.

If a fee pool includes a minimum monthly amount, and the calculation for that pool is less than the minimum, Voyager pays the minimum monthly amount. It subtracts minimum monthly amounts paid earlier in the month when calculating management fees due later in the month. For example:

Minimum monthly fee: $300

Management fee calculated June 15: $250

Amount paid June 16 (for period from June 1 to June 15): $300

Management fee calculated July 1 (for period from June 16 to June 30): $650

Total management fee due for the month: $250 + $650 = $900

Amount paid July 1: $900 - $300 = $600

Voyager flags the transactions for which it processes management fees, so that it does not pay management fees for the same transaction more than once. When processing, it includes transactions from the date range that you specify, including previously unprocessed transactions from closed periods within that range.

When you use either the Management Fees or Pay Commission feature to process management fees, processed transactions are flagged and will not be processed again by either feature.

If you reverse a receipt or charge, Voyager accounts for the reversal in future calculations of management fees.

To post management fees

1	From the side menu, select Payables > Management Fees > Management Fee Calculations. The Management Fee Calculation screen appears.

2	Complete the filter:

Legal Entity If you are using Voyager International, type or select the code for the legal entity. If you are not using Voyager International, leave this field empty.

Property Type or select the property code.

Fee Pool If you want to calculate fees for all fee pools associated with the property, leave this field empty. Otherwise, select the fee pools that you want to include in the calculation.

Fee Date Type or select the date for the payable invoice or adjustment.

As Of Month Type the range of post months for transactions to be processed. To process transactions for a single month, type the same month in both fields. If you want to include unprocessed transactions from all prior periods back to the start date for the fee pool, leave the first field empty.

Post Month Type the post month for the management-fee charge.

Report Type Select Calculate Management Fee.

3	Click Calculate. A table showing the calculated amounts appears below the filter.

4	If you want to review a summary of the management fees calculated prior to posting:

a	In the Report Type field, select Unposted Management Fee Summary.

b	Click Display. A summary of the management fees calculated, by property, is displayed.

5	If you want to review the detail of the management fees calculated prior to posting:

a	In the Report Type field, select Unposted Management Fee Detail.

b	In the Summarize By field, select Property or G/L.

c	Click Display. The transactions used to create the management fee calculation is displayed.

If you leave the Management Fee Calculation screen without posting, the calculation is saved. When you return to the Management Fee Calculation screen, you cannot calculate management fees for the same period. To review the management fees, you must select the Report Type: Unposted Management Fee Summary or Unposted Management Fee Detail.

6	To post the management fees and create the expense transaction, click Post. A confirmation requests appears.

7	Click OK. The table displays the posted amount in bold.

For information about approving payables and processing checks, see Chapter 6, “Payables.”