How to Pay the Manager

This article will walk you through the process of paying out the property manager (yourself) from your Rentvine account.

How your fees get posted are dependent on your Management Fee settings in the Global settings section. Refer to How to set up Management Fees in order to setup your management fees to your business needs.

  1. If all of your management fees are collected and posted automatically, then you can skip to Step 10.screencapture-123pm-rentvine-accounting-manager-2021-11-08-13_05_26-edit (2)
    1. This would apply if your management fee setting is set to Percent of Rent.
    2. If you have any other type of management fee setting, please continue with the next steps in order to post all of your fees to your manager ledger.
  2. On the left side, click on Accounting
  3. Then, click on Manager
  4. On the right side, click on the green Actions button
  5. Select Post Management Fees from the drop down menu 
    Screen Shot 2021-07-30 at 12.43.37 PM

  6. screencapture-123pm-rentvine-accounting-manager-management-fees-post-2021-11-08-13_08_24-editThe Run As Of field will default to the current month. Click the green Search button
  7. The results that show are the management fees that need to be posted to your manager ledger. They are grouped by portfolio and then property within each portfolio. You'll see the Pending Management Fees for each property with the dollar amount on the right side
  8. After reviewing the management fees, click the checkbox to the far left of each management fee you would like to post. You will noticed your Total Management Fees Paid total on the bottom left increase as you select more management fees
  9. When you have selected all the management fees that you want to post, click the green Post Management Fees button in the bottom right Screen Shot 2021-07-30 at 12.39.25 PM

  10. screencapture-123pm-rentvine-accounting-manager-2021-11-08-13_05_26-edit (2)On the left side, click on Accounting              ** Start Here if management fees are automatically charged by percent of rent**
  11. Then, click on Manager
  12. On the right side, click on the green Actions buttonScreen Shot 2021-07-30 at 12.45.01 PM
  13. Select Pay Manager from the drop down menu
  14. Complete the fields in the Pay Manager screen
    1. The Bank Account will autofill to your default bank account within your global settings. You are able to change bank accounts if you needed
    2. The Payment Type will autofill to how you have selected to pay yourself in your global settings. You can override this if needed
    3. The Date Posted will default to today
    4. If you are paying yourself by check, the Check Number will default to the next check number. You can override this if needed
    5. In the next section, the Account will autofill to "Management Fee Expense", or something similar depending on how your management fee expense account is worded. You can change the account if you classify how you want to pay yourself differently
    6. The Amount field will default to the difference between the Operating Balance and the Undeposited Funds. You can override this amount if you would like, but it is recommended that you deposit any undeposited funds before paying out yourself. For assistance with depositing funds, please see the article How to Record a Deposit
    7. If you would like to add additional accounts click on the Add Line Item button, and repeat steps E and F.  (Use this if you want to categorize the payment into different accounts other then the "Management Fee Expense" account")
      Screen Shot 2021-07-30 at 12.09.31 PM

  15. When you have completed the steps above, click the green Submit button in the bottom right corner
  16. Click the green Confirm button on the Confirm Payment pop-up

    Screen Shot 2021-07-30 at 12.10.54 PM

  17. eChecks will automatically send.  If you paid yourself by Check or ACH (NACHA), access that payment batch to either print the check or download the NACHA file
    1. On the left side, click on Accounting
    2. Then, click on Money Out
    3. Click on the Payment Batches tab under the search field, and click on the batch for the payment that you just made
      Screen Shot 2021-07-30 at 12.13.09 PM

    4. Click on the green Actions button on the right side
    5. Click on either Print Check or Download NACHA File, whichever option applies to this payment batch
      Screen Shot 2021-07-30 at 12.18.21 PM