In this guide, we will explore the steps necessary to configure the automation for Owner Statement Bills. This automation is important in order to successfully generate bills within your accounting system for each owner statement. Follow along as we guide you through the set up process.
Add the Owner Statement Bills Automation
From the Automations screen, click the Create Automation button.
Select the Owner Statements tab then Owner Statement Bills
Connect the automation to your accounting platform.
You will be directed to the History tab of the automation. This screen will be blank as there is currently no historical data.
Configure Mappings
Select the Mappings page in the main menu.
Select Owner Payout Account.
Map the default (Fallback) to the account set on the balance sheet for owner payouts: "Trust Liabilities: Owner Payables: Owner Distributions (Payouts)."
Select Classes.
If you have already completed the owner statement automation, the classes will already be configured as the settings transfer over. Otherwise, match each listing to it's corresponding QBO class in the Classes Mappings section.
Select Locations and ensure the default (Fallback) is set to your Trust location in QBO.
Assign QBO Vendors to Owners.
If you have already completed the owner statement automations, the vendors will already be configured as the settings transfer over. Otherwise, go to your Owners page in VRPlatform, drill down into an owner, and assign a vendor from QBO to each owner.
Update Settings
Go to the Automations page in the main menu.
Select your Owner Statement Bills automation.
Select the Settings tab.
Set the Start Date to the first day of the month you wish to generate your first owner statements.
Set the Enable Automation toggle to on.
Owner statement bills are generated when owner statements are moved into the Published & Billed status. For more information about owner statements, check out our Owner Statements help desk section.