Owner Statements

This article describes the Owner Statement report, which produces a statement for each owned Area showing the owner's income, expenses and the amount owing to the owner for a month or date range.

Overview

The Owner Statement report is an Owner Accounting report that builds one statement per owned Area, or per owner, for the selected period. Each statement is headed Statement / Tax Invoice and shows the owner's Owner Income from reservations, the fees and commissions deducted from that income, the expenses charged to the owner, and a Totals section ending in the Nett Amount Owing To Owner. Optional sections add Owner Contributions, Monies To Follow, Occupancy totals and a one-page summary.

The accounts team usually builds Owner Statements at End of Month, before paying owners, and can email them to owners, download them as individual PDF files or publish them to the Owner Portal Pro.

Tip! The Owner Statement report is available on databases with the Owner Accounting or Trust Accounting module active.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Use Cases

End of Month owner statements - at End of Month the accounts team builds the Owner Statement By Month for all Areas, reviews the totals, then ticks Email Statement if Owner has Email Address to send each owner their statement.
Financial year summary for an owner - an owner's accountant asks for a year of figures. The team selects By Date Range for the financial year, selects the owner, and ticks Show Owner Contribution so funds the owner paid in are shown separately from rental income.
Portfolio review - management ticks Show Consolidated View to see one line per Area with income, fees, other expenses and the nett amount, instead of a full statement for each Area.

How to Access

In the side menu of RMS, go to Reports > Owner Accounting > Owner Statement.

Report Options

The Owner Statement report options control the period, which Areas or owners receive a statement, which sections appear on the statement and how the statements are delivered.

Tip! Report build screens default to a common use configuration, and selections can be made as required.

Report Option	Type	Default	Description
By Month	Radio button and month picker	Selected, This Month	Builds statements from the first to the last day of the selected month.
By Date Range	Radio button and date range	Today	Builds statements for a custom date range, for example a financial year.
Property	Multi-select dropdown	All Selected	Limits the report to the selected properties. Shown only on databases with more than one property.
Category	Multi-select dropdown	All Selected	Limits the report to Areas in the selected Categories.
Area / Owner	Radio button	Area	Selects how statements are chosen. Options: Area - select from a list of Areas, each shown with its owner's name. Owner - select from a list of owners.
Area or Owner list	Multi-select dropdown	All Selected	The Areas or owners to build statements for. Only owners with at least one Area set to print a statement are listed.
Contract Type	Multi-select dropdown	None Selected	Limits the report to the selected Owner Contract types. Shown only when more than one contract type exists.

More Options

The More Options panel on the Owner Statement report holds the checkboxes below, listed in the order they appear. Every checkbox is unticked by default.

Report Option	Description
Show Nett Per Res and Amount Owing on MTF	Shows an Amount and a Nett column for each reservation in Income, and adds a Pending column to Monies To Follow.
Show Summary for Period	Summarises Income into one row per month and Expenses into one row per General Ledger Account Code.
Show Consolidated View	Builds a single page with one row per Area instead of a full statement. Disables the email options.
Email Statement if Owner has Email Address	Emails each statement as a PDF to owners with an email address. See Delivery Options.
Attach Invoices	Attaches the owner's invoices for the month to the email. Shown only when Email Statement is ticked and By Month is selected.
Include Occupancy Totals	Adds the Occupancy section to each statement.
Download As Individual PDF's	Downloads a ZIP file with a separate PDF for each statement instead of showing the report on screen.
Include Inactive Areas	Includes Areas in inactive Categories in the Area or Owner list. With All Selected, statements are also built for those Areas.
Show All Owners	Lists owners whether or not they owned an Area during the selected period.
Show Paid to Owner date	Shows each payment in Totals as "Paid to Owner on" followed by the payment date.
Do Not Show Guest Names	Leaves the guest Name column blank.
Hide Travel Agent fields	Removes the Travel Agent column heading and values.
Show Pending for Monies To Follow and Forward bookings	Adds a Pending column showing the reservation tariff to Monies To Follow and Forward Bookings.
Hide Owner Bookings	Excludes owner bookings from the Income section.
Do not Group EOM Expenses for Long Term Bookings	Shows the fee and commission amounts against every income line of a long-term booking, instead of only the first line for that date.
Show Net per Res on Income Only	Shows an Amount and a Nett column for each reservation in Income.
Show Summary Report Page	Adds a Summary Report page before each statement.
Show Tax on Owner Income	Adds a Tax column and total to the Income section.
Show GST Remittance	Adds the GST Remittance section. Shown only when Country Running From is New Zealand.
Show Income GST Summary	Adds the Income GST Summary section. Shown only when Country Running From is New Zealand.
Show Owner Contribution	Moves receipts made on the owner's account into a separate Owner Contribution section.
Send Owner Statement to Owner Portal	Publishes each statement to the Owner Portal Pro. See Delivery Options.

Please Note! The Show Nett Per Res, Show Summary for Period, Show Consolidated View and Show Net per Res options each switch the statement to a different layout. When more than one is ticked, only one layout is used.

Column Headers

The Owner Statement is not a single table. Each statement is a page per Area (or per owner) with a header and a series of sections, and each section has its own columns. Sections with no data for the period are not shown.

Statement header

The Owner Statement header shows the heading Statement / Tax Invoice, the property's name, address, tax number, phone and email, the owner's name and address after To:, the period as From: and To dates, and the Area.

Statement sections

The Owner Statement sections below appear in this order on the standard statement.

Section	When it appears	Columns
Summary Report	Show Summary Report Page ticked	Income (Before Expense), Property Expense, Management Fee, Total Nett Return. See Summary Report.
Owner Contribution	Show Owner Contribution ticked	Name, Rec, Pay, Description, Amt. See Owner Contribution.
Income	Always	See Income columns below.
Expenses	Expenses charged to the owner in the period	Description, Debit, Credit. The tax amount is shown against each line.
Unpaid Expenses	Expenses not yet paid	Description, Debit, Credit.
Totals	Always	Debit and Credit for each total. See Totals.
GST Remittance	New Zealand, Show GST Remittance ticked	Name, Res, Arrive, Depart, Total Tariff ($), Owner Income ($), Less GST ($), Nett to Owner ($). See New Zealand GST sections.
Income GST Summary	New Zealand, Show Income GST Summary ticked	Income, Income for the first two fee columns, Nett Income Before Expenses. See New Zealand GST sections.
Monies To Follow	Reservations for the Area not yet included in Income	Name, Res, Travel Agent, Area, Arrive/Depart, PAX, Nights. Pending is added by Show Pending or Show Nett Per Res.
Forward Booking	Show Future Bookings up to is ticked in Owner Accounting Options	Same columns as Monies To Follow.
Occupancy	Include Occupancy Totals ticked	Area, Period, Nights Available, Nights Used, % Occupancy, Avg. Nightly Rate.

Income columns

The Owner Statement Income section lists each reservation that created Owner Income for the Area in the period, after a Brought Forward line. The fee columns between Area and Amt are set per property, so their headings vary.

Column	Description	Source / Calculation
Name	The guest's name. Blank when Do Not Show Guest Names is ticked.	Reservation
Res	The reservation number.	Reservation
Rec	The receipt number.	Receipt
Pay	The receipt type.	Receipt
Arrive/Depart	The reservation's arrival and departure dates.	Reservation
Nights	The number of nights. The section total sits under this column.	Reservation
Tvl Agent	The reservation's Travel Agent. Hidden by Hide Travel Agent fields.	Reservation
Area	The owned Area.	Setup > Category/Area
Fee columns (for example Mgt Fee, Agt Comm, HK Fee)	The fees and commissions deducted from the owner's income for the reservation.	Fee columns
Tax	The tax on the owner's income. Shown when Show Tax on Owner Income is ticked.	Owner Income transactions
Amt	The Owner Income amount for the reservation, in the property's currency.	Owner Income transactions
Amount and Nett	Replace Nights, Tvl Agent and Amt when Show Nett Per Res or Show Net per Res is ticked.	Nett = Amount minus the fee columns

Screenshot of the Owner Statement in RMS showing the Statement / Tax Invoice header, Income, Expenses, Totals and Monies To Follow sections for one Area

Data Sources & Calculations

The Owner Statement figures come from the Owner Income and expense transactions on the owner's account, the Owner Contract on the Area, and the property's Owner Accounting setup.

Fee columns

The Owner Statement fee columns are the General Ledger Account Code Groupings selected for each column on the Owner Statement tab of Setup > Accounting > Owner Accounting Options. Each column shows the transactions posted to that grouping for the reservation, such as a management fee or agent commission. The total of these columns is the Income Expenses row in Totals. See Owner Statement Groupings.

Totals

The Owner Statement Totals section works out what is owed to the owner for the period. The rows are:

Brought Forward Expense - expenses carried from earlier periods.
Gross Amount - the total Owner Income for the period.
Income Expenses - the total of the fee columns in Income.
Expenses - the total of the Expenses section.
Paid To Owner - payments already made to the owner. With Show Paid to Owner date ticked, each payment reads "Paid to Owner on" and its date.
Outstanding - the shortfall when the expenses are more than the income.
Nett Amount Owing To Owner - Gross Amount less Brought Forward Expense, Income Expenses, Expenses and Paid To Owner, less any Payment Withheld.
Payment Withheld, Carried Forward Credit and Total Tax On This Invoice.

Other rows, such as Owner Receipts or Expenses Excluded from Minimum Payment, appear only when they apply to the owner's contract.

Forward Booking

The Owner Statement Forward Booking section lists future reservations for the Area. It is turned on by ticking Show Future Bookings up to on the Owner Statement tab of Setup > Accounting > Owner Accounting Options, for the property. When a date is entered next to the checkbox, the section shows reservations arriving after the statement period up to that date. With no date, it shows all reservations arriving after the statement period. Cancelled, No Show, Quote and Maintenance reservations are not shown.

New Zealand GST sections

The Owner Statement New Zealand GST options are shown on the build screen only when Country Running From is set to New Zealand on the Options tab of Setup > Property Options > General Information.

GST Remittance - one row per reservation, with a Totals row. Nett to Owner is the owner's income for the reservation, Less GST is the New Zealand GST allocated in the statement period, Owner Income is the Owner Income sundry charges, and Total Tariff is Nett to Owner less Owner Income plus GST. GST allocated against voided transactions is excluded.
Income GST Summary - shows Income (the Gross Amount), the income for the first and second fee columns using their column headings, and Nett Income Before Expenses, which is Income less those two amounts. When this section is shown, the Total Tax On This Invoice row in Totals reads Total Tax On Expenses.

Please Note! The GST Remittance and Income GST Summary amounts show "($)" in the headings and no currency symbol against each amount.

Owner Contribution

An Owner Contribution is money an owner pays into the trust account, for example to cover repairs to their property. When Show Owner Contribution is ticked, receipts made on the owner's account are moved out of Income into an Owner Contribution section above Income, so they are not reported as rental income. The Name column shows "Owner", Rec is the receipt number, Pay the receipt type, Description the receipt comment and Amt the amount receipted. See Owner Statement - Show Owner Contribution.

Summary Report

The Owner Statement Summary Report page appears before each statement when Show Summary Report Page is ticked. Income (Before Expense) is the Gross Amount, Property Expense is the Expenses total, Management Fee is the total of the fee columns, and Total Nett Return is Income less Property Expense and Management Fee. For Performance Guarantee contracts, Income is the guaranteed amount for the period.

Consolidated View

The Owner Statement Consolidated View replaces the individual statements with one page that has a row per Area: Area, Surname, Income Total, the fee columns, OTHER EXP and Nett, with a Total row.

Delivery Options: Email, PDF and the Owner Portal Pro

Owner Statements can be emailed, downloaded or published to the Owner Portal Pro as well as viewed on screen.

Email Statement if Owner has Email Address - sends each statement as a PDF named "Owner Statement.pdf" from the property's email address, with the subject "[Property name] - Owner Statement". The email body is the Owner Statement Email Body if one is set up. See Owner Statement Notes & Email Body. Statements are not emailed from the Training Database.
Download As Individual PDF's - downloads a ZIP file with one PDF per Area, or per owner when Owner is selected.
Send Owner Statement to Owner Portal - publishes a separate PDF for each Area, so each owner sees only the statements for their own Areas on the Published tab of their Owner statement page. The option applies to the default and custom Owner Statement layouts. See How to Generate Owner Statements in the Owner Portal Pro.

Important! If Download As Individual PDF's and Send Owner Statement to Owner Portal are both ticked, the PDFs are downloaded and nothing is published to the Owner Portal Pro. Emails are still sent when Email Statement if Owner has Email Address is ticked.

Related Reports

Owner List Report - exports each owned Area with its owner's contact, banking and Owner Contract details.
ATO Export Report - exports owner income in the Australian Taxation Office format.

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