Propertyware Knowledge Base

Field Name

Description

Portfolio Name

Enter the Portfolio owner's name. Each Portfolio must be named after a property owner, and if co-owned, the Portfolio may be named after its various owners by hyphenating each name. I.e., if you manage properties owned by Donald Trump, name the Portfolio "Trump-D." If you manage properties co-owned by Donald Trump and John Smith, name the Portfolio "Trump-Smith." Up to 50 characters are allowed in this field.

Portfolio Abbreviation

Enter an abbreviation to the Portfolio Name. The application will automatically generate an abbreviation, taking the first 10 characters of the Portfolio Name, which you may override. Up to 10 characters are allowed in this field.

Default Bank Account

From the drop down menu, select the appropriate bank account where income is to be deposited for the Portfolio.

Default Security Deposit Bank Account

From the drop down menu, select the appropriate bank account where collected security deposits are to be transferred. This field should be set to the same Default Bank Account in the field above, unless applicable laws and ordinances require you to maintain your collected security deposits within a separate bank account. By setting a separate Default Security Deposit Bank Account, Propertyware will:  

• Transfer security deposits which may have been collected within your Default Bank Account (i.e., tenant security deposit and first month's rent was covered by a single check) to your Default Security Deposit Bank Account, once your tenant payments have transferred to QuickBooks.
• Upon performing a move-out calculation, create a security deposit refund to the vacating tenant from the Security Deposit Bank Account, where applicable.

Accounting Close Date

Enter a date as of when the accounting period for the portfolio shall close. No income or expense transactions may be recorded or modified on the actual Accounting Close Date or after such date, if retroactively dated (on or before the Accounting Close Date).  *Only your Administrator is able to set, view or modify an Accounting Close Date.

Maintenance Settings

Set a Maintenance Spending Limit on the Portfolio, either monthly or yearly, for maintenance bills created by work orders. Toggle the drop down menu to either "no limit," "monthly limit," or "yearly limit." If you select a monthly or yearly limit, then enter a spending limit amount within the pop-up window.

Owner Contacts

1. From the selection window, select the contact(s) who own the buildings and units within the Portfolio. If a relevant owner contact does not appear within the window, click on the New Owner button to create the contact. Click the arrow to expand and collapse this section. Only your Propertyware Administrator may create Owner Contacts, a high level privilege not relegated to other users. 
2. Enter Ownership Percentages: When creating an owner contact, you will be able to assign an ownership percentage. This will create the ability to split owner draws based on the percentage assigned to each owner contact. For an existing owner contact, click the edit link to the right of the contact name on the portfolio and enter the percentage of the portfolio that relates to each individual owner contact. When creating the owner draws, the calculator will look at these percentages and distribute the money according to the percentages that have been set.