Pay an individual owner

Pay Individual Owner lets you pay a single owner, or a selected group of owners, at any time without running the full End of Month owner pay process.

Overview

The Pay Individual Owner screen shows the funds currently owing to each owner and lets you pay one or more owners on demand. Use it when an owner needs to be paid ahead of the monthly cycle, or when you want to pay a single owner without closing the month for every owner.

This differs from the Pay Owner / Manager (Close Month) process, which pays all owners and closes the accounting period. Pay Individual Owner does not close the month.

Common reasons to pay an individual owner include:

Paying an owner ahead of the monthly cycle so they receive their income sooner.
Making a one-off payment for a specific reservation, for example the payout on a cancelled booking.
Paying part of the amount owing now and retaining the rest, using the Amt To Hold field.

⚠ Important: Trust Pooling rooms cannot be paid using this function. Income for Trust Pooling rooms is not distributed to owner accounts until End of Month, so it is not available to pay individually.

✎ Please Note: RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels and Functions used in these articles may differ from your setup.

Prerequisites

The Owner Accounting module must be active for the property.
Your Security Profile must allow access to Owner Accounting payments.
The owner must have income owing. Amounts only appear once the relevant reservation charges and receipts have been processed for the trust period.

In the side menu of RMS, go to Owner Accounting > Pay Individual Owner.

Select the Property.
Confirm the Trust Date.
This is the date the payment is recorded against and determines which pending transactions are shown.
Review the Pending Transaction list.
Each row is an owner account with the amounts currently owing.
Select the checkbox next to each owner you want to pay.
The totals at the bottom of the screen update to reflect your selection.
Review the Amt To Pay for each selected owner.
To populate the amounts automatically, use: Prime Amt To Pay or Prime Amt To Pay Less Holds
If you want to retain part of the balance rather than pay it out, enter a value in Amt To Hold.
Select the Pay Owner to process the payment for the selected owners.

The buttons in the top right of the screen are:

Prime Amt To Pay - populates the Amt To Pay with the full amount owing for the selected owners.
Prime Amt To Pay Less Holds - populates the Amt To Pay with the amount owing minus any hold amounts.
Pay Owner - processes the payment for the selected owners.
Refresh - reloads the pending transaction list.
Exit - closes the screen.

✎ Please Note: If the Trust Date is well behind the current date, RMS displays a prompt advising that End of Month must be run before the end of the month. Bring the trust period up to date before paying owners.

Understanding the columns

The Pending Transaction list shows the following columns for each owner account.

Column	Description
Acc No	The owner account number.
Contract Type	The owner contract model applied to the account.
Room	The owned area linked to the owner account.
Owner	The owner's name.
Pay	The method by which the owner is paid, for example EFTPOS, or Manual for a direct bank transfer.
Owner Receipt	Funds receipted directly to the owner, for example money an owner has paid into the trust account to fund a renovation or maintenance improvement.
Gross Income	Total income earned for the owner in the trust period before expenses and commission.
Income Paid	Income already paid to the owner.
3rd Party Paid	Amounts paid to third parties on the owner's behalf.
Expenses	Expenses charged against the owner account.
Owing To Manager	Commission or amounts owing to the manager.
Owing To Owner	The net amount owing to the owner after expenses and commission.
Amt To Hold	The amount to retain rather than pay out. See Set up a hold amount on an owner.
Amt To Pay	The amount that will be paid to the owner in this transaction.

⚠ Important: Paying an owner is a financial transaction. Confirm the property, Trust Date and amounts are correct before you process the payment.

★ Tip: To review what an owner is owed before paying, generate an Owner Statement for the same period.

Troubleshooting

Can I pay several owners on one EFT file?

Yes. When you select multiple owners and create the EFT file, RMS groups them onto a single EFT file for that date. Any further pending transactions created on the same date are added to the same file, so create the EFT file once, for example at the end of the day. Check whether your trust account has a limit on the number of transactions allowed per file.

An owner appears on the Payment Issued report but is missing from the EFT file.

Check that the owner's banking details are complete and correct in their Owner profile. Missing or unlinked bank details can cause an owner to be listed on the payment issued report but left off the EFT file.

A red line appears against an owner account.

A red line flags an owner account that needs attention. RMS allows the pay run to continue, but it does not process the area or room that has the red line, even though it can appear to have been paid. Contact RMS Support to resolve the red line before paying the owner or manager.

⚠ Important: A red line flags an owner account that needs attention. RMS allows the pay run to continue, but it does not process the area or room with the red line, even though it can appear to have been paid.
Contact RMS Support to resolve the red line before paying the owner or manager.

I think an owner has been paid twice.

Do not present or process any further payments. Contact RMS Support so the duplicate can be investigated and corrected.

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Pay an individual owner

Overview

Prerequisites