How to Reimburse the Property Management Company When a Vendor is Paid Using the Business/Corporate Bank Account or a Business Credit Card Instead of the Trust Bank Account.
Did you pay a vendor outside of Rentvine using your business/corporate bank account or business credit card and need to be reimbursed by the unit/owner?
In Step 1, you will learn how to generate a bill for a reimbursement owed by the owner or unit to the property management company. Step 2 will show you how to collect the reimbursement amount.
Step 1 - Add / Create a Bill
Click on the Global Search Bar menu and select Add Bill.
Enter the following details
Payee - Type to search for the name of your management company. It is usually designated with a tag "Management Company". Select it.
Enter the Bill Date and Date Due.
Invoice #, Payment Menu are optional
Work Order - Type in a work order # if you want to associate the bill with a work order
Override Bank Account - Click this button only if you wish to choose a bank account other than the default bank account of the Paid By (Payer).
Paid By (Payer) - Select who is reimbursing the management company. This can be the Portfolio, Property, or Unit.
Account - Select the appropriate chart of account. This is typically an expense account.
Amount - Enter the amount that you want to be reimbursed.
Description - Enter text to describe the reimbursement (This will show on the owner statement).
Click on the Add Charge button if you want to enter additional line items.
Click Save
Step 2 - Pay the Bill
Once the bill has been created, you can pay the bill right away by clicking on the green Actions button and selecting Pay Bill.
It will take you to the Pay Bills page, where you can pay the one bill. Select the bill and then click Post.
