Propertyware Knowledge Base

Propertyware allows you to process Owner Draws for all of your portfolios at one time. Using this tool will automatically create an owner draw for every portfolio in your account in the amount of the current portfolio income balance.

You must have the "Enforce Default Bank Account" flag in Company Information set to yes for this operation to work, as well as the Default Bank Account set on each of the individual Portfolios, in order for the draws to be created. Any Portfolio on which the Default Bank Account is not set will not have an Automatic Owner Draw Created.

When you process all of your Owner Draws at once, the draws will be for the amount deliniated by the Ownership Percentage that you set on the owner contact within the Portfolio. For example, if you create an owner draw for the remaining Portfolio Balance of $5000, and you have 2 owners on the Portfolio, each with 50% ownership (which you set on each owner contact), the draws will be created for $2500 for each owner and posted to the Owner Ledger subtab on the Management Summary.

To process all of your Owner Draws at once:

1. Click the Management Tab.
2. Select Post All Owner Draws from the Related Activities menu.
3. A window will open prompting you to confirm this action. Click the Post button to create Owner Draws for all of your Portfolios.
4. You can also complete this task as part of the Post All Management Fees function, which also appears in the Related Activities Menu.