Article ID: KWin0116
Added: 01/05/10 SS
Issue: To create a "reserve amount" for an owner, consider the
example below. Reserve amounts might be created to handle future big
repairs to a room.
- Create a “Z” secondary owner. Example: Owner 102 as a primary
and 102Z as a secondary owner.
- Create transaction code on the B7 City Ledger to allow "F1 - transfer to
- Create transaction code to allow "F2 - transfer from statement".
- Create transaction code to allow "F3 - transfer to statement".
- Create transaction code to allow "F4 - transfer to owner".
- Create transaction code to allow "F5 - transfer from owner".
- Create transaction code to allow "F6 - transfer from owner".
- Manually post a transaction F1 to the primary owner for the 2% of
gross each month. So if the gross rental is $1000, post $20 as “transfer to
- On the secondary owner (102Z), post a transaction F2 as a negative
$20 as “transfer from statement”.
- At the end of each month, make sure the total of the F1 and F2
transaction codes equal zero (all posts were entered correctly when balanced
- The owner gets two statements each month.
- The owner can logon with IRM.net to either 102 or 102Z to see the
- To pay for something from the reserve amount, post an F3 transaction
code to Owner 102Z as a positive amount (“transfer to statement”).
- Post an F4 transaction to owner 102 as a negative as “transfer to
- When a room is sold, transfer the reserve amount to the new owner.
In this case, add the new owner TWICE (owner 102A and 102AZ).
- Post an F5 transaction to owner 102Z as a positive amount as “transfer
to owner 102AZ”.
- Post an F6 transaction to owner 101AZ as a negative as “transfer from