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 "Donald Trump." If you manage properties co-owned by Donald Trump and Lee Ioacca, name the Portfolio "Trump-Ioacca.") 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 if 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.

Management Settings

Enter the portfolio minimum.  When owner draws are created, and depending on the accounting preferences in Setup, the amount entered as the minimum can be left in the owner's portfolio.

Owner Contacts

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. If you have multiple owners, you can assign an ownership percentage that will correctly calculate owner draws based on the entered percentage.  You can also choose whether you want Propertyware to share owner statements by selecting Yes or No from the Print Statement dropdown.