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Joint Interest Billing
The joint interest billing process can be run as many times each month as the
user chooses. The process will only select those entries that have not be disbursed
at that time. The JIB process automatically updates the accounts receivable system
when run live. As many edit processes (facsimile of live processing) can be run
as needed. The process can be run for selected or all properties at a time.
- A detailed invoice is printed for each owner and each property they participate
in
- A summary statement is printed for each owner showing, in summary, all
the properties they are in
- Multiple divisions of interest for user defined expense groups
- JIBs can be suspended for legal or minimum amount reasons
- JIBs can be netted against the revenue by property or in total for all
properties
- A maximum of 150 characters of description can be printed for each entry
on the JIB. This is in addition to the description of the type of charge
being billed.
- Prepayments can be entered and applied against the JIB by types of charges
- If a division of interest has not been established on a property, the charges
that should be billed out are held until the division of interest has been
set up. At that time the system will release the entries and bill them to
their respected owners.
- The system has an automated procedure that reverses the expenses entered
to the wrong division of interest, to the correct one, even if the charges
have already been billed.
- Charges can be held in Work-in-Progress until the user decides to bill
them all out when the project has been completed
Inquiry Screens:
 JIB
Suspense and Prepayments
If an owner has been suspended, or has a prepayment, you can look at the detail
of the suspended items, or the balance of the prepayment.
Reports:
- Allocation report
- Suspense report
- Prepayment report
©2003 Avatar Systems, Inc. |
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