Propertyware Knowledge Base

Field Name

Description

Account Type

Choose one of the following Account Types from the drop down menu.

• Bank: Propertyware provides you with a default bank account within your Chart of Accounts for the purpose of collecting tenant payments and paying bills. Your Administrator may update this default bank account and add any additional bank accounts, whether at one or more financial institutions, used by your company to manage their properties.
• Credit Card: Use this option to create a credit card account for tracking purchases made by credit card.
• Asset: Use this option to create an asset account for any asset that is neither a current asset nor a fixed asset, such as long-term notes receivable.
• Liability: Use this option to create a liability account for each of your company's liabilities, such as security deposits or pet deposits.
• Equity: Use this option to create an equity account for each owner for whom you manage properties.
• Income: Use this option to create an income account both for income received by your company and income generated by the portfolios you manage.
• Expense: Use this option to create an expense account to categorize all property expenditures.

Parent

Choose a parent account if you want to create a sub-account. Note that the choices in this menu will be limited to include only accounts matching the Account Type selected above.

Description

Enter a short description of the account in the Description field.This field syncs with the account name in QuickBooks. If you are synchronizing Propertyware with an existing QuickBooks company file with a set Chart of Accounts, this field should match the corresponding account.

Account Code

The Account Code field is automatically get populated with a twelve character value for identifying the new account. This account code is used on Reports and around the application to identify the account. You may edit the auto generated account code or choose to keep the one created from the account description. This field syncs with the account item list in QuickBooks.

Loan Account

Checking this box will designate the account as a Loan Account, which provides additional mail merge and reporting options.

Tax Account

Checking this box will designate the account as a Tax Account, which will allow you to then assign the Tax Account to taxable items and charges.

Discount Account

Checking this box will designate the account as a Discount Account, which will allow you to record discounts on the Tenant Ledger.

Rent Account

Checking this box will designate the account as a Rent Account, which will report rental income on mail merge documents and reports.

GL Account Number

Enter an Account Number for this account, or use the Auto Generate button to generate an Account Number. This field is limited to seven alpha-numeric characters. This field syncs with the account number in QuickBooks.

Taxable
(Income accounts only)

If you are creating an Income account you will have the option of marking the account as Taxable. This option is useful for income accounts that require a separate charge associated with them for tax (i.e., sales tax or Canadian Goods and Services Tax). To set a tax on any income account, choose the type of tax and enter a Tax Rate that is greater than zero.

Security Deposit Account
(Liability accounts only)

If you are creating a Liability account, checking this box designates the account as a Security Deposit account. Tenant payments applied to security deposit charges will be maintained in the Deposits Held field on the Tenant Ledger. These funds will be available for refund, forfeit, or applied to unpaid charges when the tenant moves out.

Bank Account Number
(Bank accounts only)

If you are creating a Bank account, enter the bank account number into this field; this field will populate on checks that you print through the Print Checks module.

Bank Routing Number
(Bank accounts only)

If you are creating a Bank account, enter the bank routing number into this field; this field will populate on checks that you print through the Print Checks module.

Bank Account Holder
(Bank accounts only)

If you are creating a Bank account, enter the name of the bank account holder into this field; this field will populate on checks that you print through the Print Checks module.

Card Number
(Credit Card accounts only)

If you are creating a Credit Card account, enter the credit card number into this field.

Deactivated

Check this box to remove the account from Propertyware. Existing transactions associated with this account will remain intact, but the account will no longer be available when creating future transactions.