Money Out
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      1. Rentvine Knowledge Base
      2. Accounting
      3. Money Out

      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 Quick Actions 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 to 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 Add Charge button if you want to enter additional line items.
        • Click Save.

      Step 2 - Pay the Bill