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Universal Search Term: To quickly locate this page, search for Owners.

Location: App – Accounting – Owners

Required Setup: In order to view this page, you must be assigned one of the following roles: General Manager, Marketing Manager, or a custom role that includes the permissions for any of these roles.

Scope: This feature is available in all versions of Kigo.

About the Owners Page

Kigo supports trust-based accounting. While the precise definition of trust-based accounting varies between localities, most typically adhere to the following guidelines:

  • Collected rent for non-company owned properties is not treated as income (but as a liability that may be partially offset by commission income).
  • Company and rental funds should not be deposited in the same bank account.
  • Complete ledger (records) of all income, charges, and disbursements are available for each owner account.

    Kigo supports trust-based accounting, but it is not a full accounting system. Kigo focuses on collecting and tracking the accounting events revolving around bookings, including but not limited to collecting and tracking financial information related to rents, fees, taxes, and commissions as well as providing property owners with reporting related to their income and expenses from the rentals. You will still need to use another accounting program for P&L reporting, to write checks, to handle tax filings, to pay employees, and so on.

From here, you manage the owner records for each property, and you can also create new owner records here. These records are a critical element for maintaining trust-based accounting.

Owners

The top section of this page includes a variety of search filters that you can use to help find a specific owner. The lower section of the page lists the owners. Owner records that have been most recently added or modified are listed first. Twenty records are displayed at a time. If there are more than twenty results, you can use the links at the bottom of the page to view more results.

Some common actions that can be performed here include:

  • Creating a New Owner.
  • Resetting the Owner Extranet Password for an Owner.
  • Sending or Resending a Welcome E-mail Message.
  • Modifying an Existing Owner Record.
  • Changing the Status of Owner Records.
  • Deleting Owner Records.

Field Definitions

Search Filters

Use the search filters at the top of the Owners page to quickly locate existing owner records that you want to work with. You can use any or all of the following options to locate a specific owner. Once you enter the search criteria, click Search, and the Owners List is updated.

  • Account Name: To filter the list by the owner account name, enter some or all of the account name here, and then click Search. All matches are returned in the Owners List.
  • Status: To filter the list by owner account status, select the appropriate status from this drop-down list, and then click Search. All owner account records of the selected status are returned in the Owners List.

Owners List

Balance as of: By default, this defaults to tomorrow's date. If you want to view ledger balances for a specific date (such as month end), you can select another date here, and then click Update. The ledger balances displayed in the Owners List are updated based on the date you provided.

This list displays owners based on the search criteria entered above. Owner records that have been most recently added or modified are listed first.

  • ID: This is the internal record identification number for this owner account record. An indicator is displayed to the left of the ID. A green icon indicates that this owner record is active, while a red icon indicates that the owner record is inactive.
  • Account Name: This is the account name associated with the account. This can be a person's name or a company name. The second line of this column displays the contact name for the account.
  • Amount Due: This column displays three lines of information. Each is described below.
    • View Ledger and Balance: Select this link to open the Ledger page, where you can view the owner's current balance. The Ledger page also allows you to view commission statements for the owner, disbursements to the owner, and payments from the owner.
    • Reserve: This is the agreed upon amount that is kept in reserve for the owner.
    • Due to Owner/Due to Mgr: This identifies the amount to be disbursed to the owner, or the amount that is due to the property manager from the owner.
  • Actions: The action column provides shortcut links to the actions described below.
    • Record Payment from Owner: Select this link to open the Receive Payment page, where you can record a payment that was received from an owner.
    • Record Disbursement to Owner: Select this link to open the Record Transaction page, where you can record a disbursement for an owner.

Creating a New Owner

  1. From the Owners page, click New. The Owner page opens and the Owner Info tab is selected.
  2. Enter an Account Name for this owner. This is the name that appears on the owner statements, and is usually an individual person's name, or the name of a company. This field is required.
  3. Enter the Reserve amount. This is an agreed upon amount of money that is held from the owner's first rental and is used to pay for repairs, maintenance, or similar items.
  4. By default, the Status of the owner account is active, but you can choose to make the account inactive here.
  5. Enter the first and last name of the primary Contact for this owner.
  6. Next, click the More link to open the Contact page, and enter additional information for the Contact, such as an e-mail address, contact phone numbers, and a mailing address. When finished, click Save to save the changes, and return to the Owner page.
  7. If you want this owner to have access to the Owner Extranet, where the owner can view existing bookings for their properties and make owner bookings, select the Enable Login check box. This option is only valid if you have also selected the Enable 3rd Party Owner Features check box on the Booking Setup page.
  8. If you have selected the Enable Login check box, you must also complete the Login Details section. These fields are described below.
    • Enter a User Name that the owner will use to access the Owner Extranet. The User Name must be between 5-50 characters long, and cannot include any spaces.
    • Enter the E-mail address associated with the Owner Extranet account. This should be the primary e-mail address for the owner, as all communications are sent to this address. If the owner forgets their password, a password reset message is sent to this e-mail address.
    • Enter a Password for the owner to use when accessing the Owner Extranet.
    • Re-enter the password in the Confirm field. This ensures that the password has been entered without errors.
  9. Enter any internal Notes that you want to include about the owner or their properties. This information only displays here.
  10. Select the Units tab.
  11. Click to select any properties or units that you want to associate with this owner. You can only select a property or unit that is not currently associated with another owner. If you haven't created the property records yet, skip this step. You can also choose to associate the owner with the property from the Units tab of the Property page.
  12. Select the Commissions tab.
  13. Click to select any commissions that you want to associate with this owner. Some commissions may already be selected. These commissions are configured to be applied to all owners.
  14. When finished, click Save or Save & Close to save your changes. If you want to discard your changes, click Cancel instead.
  15. A message displays. If you want to send a welcome message, click OK. Otherwise, click Cancel.

Resetting the Owner Extranet Password for an Owner

  1. From the Owners page, use the search filters to locate the owner record that you want to work with.
  2. To make changes to a specific owner record, click anywhere on the row where the owner is displayed in the Owners List. The Owner page opens, and displays detailed information about the owner that you've selected.
  3. Enter the new password in the Password field. This must be a new password that the owner has not previously used, and must meet Kigo password standards. You can find the Kigo password standards in Change password.
  4. Re-enter the same password in the Confirm field. The password that you enter here must match what you've entered in the Password field.
  5. When finished, click Save or Save & Close to save the new password information. To discard your changes, click Cancel instead.

Sending or Resending a Welcome E-mail Message

  1. From the Owners page, use the search filters to locate the owner record that you want to work with.
  2. To make changes to a specific owner record, click anywhere on the row where the owner is displayed in the Owners List. The Owner page opens, and displays detailed information about the owner that you've selected.
  3. Click the Send Welcome E-mail button. A status message displays, stating that the message was sent successfully. Passwords sent in the welcome e-mail message expire after they are used or after 24 hours, whichever comes first.
  4. When finished, click Save or Save & Close to save the new password information. To discard your changes, click Cancel instead.

Modifying an Existing Owner Record

  1. From the Owners page, use the search filters to locate the owner record that you want to work with.
  2. To make changes to a specific owner record, click anywhere on the row where the owner is displayed in the Owners List. The Owner page opens, and displays detailed information about the owner that you've selected.
  3. Make any necessary updates to the fields.
  4. When finished, save your changes by clicking Save or Save & Close. To discard your changes, click Cancel instead.

Changing the Status of Owner Records

  1. From the Owners page, use the search filters to locate the owner that you want to work with.
  2. Locate the specific owner or owners that you wish to change the status of, and select the associated check box(es).
  3. Click Set Status, and then choose one of the options below:
    • Set Selected Records to Inactive: Choose this option to change the status of the selected owner(s) to inactive.
    • Set Select Records to Active: Choose this option to change the status of the selected owner(s) to active.
  4. The change is effective immediately.

Deleting Owner Records

  1. From the Owners page, use the search filters to locate the owner that you want to delete.
  2. Locate the specific owner or owners that you want to remove and select the associated check box(es).
  3. Click More Actions, and then choose Delete.
  4. A confirmation message displays. Click OK to delete the owner(s), or click Cancel to return to the Owners page without deleting any records.

Additional Information/Related Topics

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