Review / Update Vendor Accounts

The Vendor Accounts page allows you to mange the accounts and their relationship to a specific unit or space, if any.  The page also allows you to set the defaults such as the default expense bank account, which is usually the operating account, and the default category when expenses are entered.  To navigate to this page click Vendors in the Top Navigation Menu. Then select a property and then the Vendor. Lastly click Vendor Accounts in the Actions Menu to display that page.

 

 There are a few functions on this page that we will be covering.

Account Information And Custom Fields

Set a default Bank Account and Category using the drop down lists in this section. You can also optionally customize and set any of the five custom fields button. To save your changes to any of the values click on the Update button.  

Accounts With Vendor

This is the list of accounts associated with this Property and Vendor.  To add an account, simply click on the "Add Account" Button.  To modify an account, select the account and then hit the Modify Account button.  The add or modify window allows you to select the tenant or unit the account is associated with as well as set the allocation percentage.  This is important when there are expenses, such as utility expenses (water / electric) and you want to pass through those expenses directly to your tenants.  Setting this would allow UnitConnect to determine how and whom to pass the expense too.

Charge Description and Category of the charge is what will reflect on the Tenant's bill when that expense is passed through to the tenant.  To save your changes to any of the values click on the Update Expense Passthrough defaults button.  Here's an example of one:

Scheduled Expenses

If an account has a recurring scheduled expense, you can add one to the Scheduled Expenses tab.  Click on the Add button to add a recurring schedule to add one.  The schedule requires Start / End Dates, Occurrence (Weekly / Monthly / Once / Yearly), Amount and Category of the Expense.  In the example illustrated below, the expense is scheduled to occur once per month at $100 starting Jan 1, 2011 through 12/31/2045.  A scheduled expense will appear in the Expenses for the property as well as the ledger.  If the account contains any passthrough, then it will pass through the expense to the tenant to their current invoice.

You can visit the other Vendor Pages by clicking any of the tabs on this page, as well as selecting a different vendor for the selected property using the green arrow next to the vendor's name at the top.