How Do Owner Contribution and Owner Distribution Work?April 10, 2019
With TenantCloud, to properly record owner contributions all you need to do is to select “Owner Contribution” from the “Money In” tab.
Anytime you need to accept money from an owner, go to the Accounting page and create an invoice that will be automatically sent to your connected owner, or mark it as paid if you’re using non-digital forms of payment.
Once the money has been deposited, the invoice will be marked as paid.
The details of the transaction can be viewed by clicking on the “details” button next to the invoice.
Owner’s distributions are earnings withdrawn from the profit of a property management business.
To make the payment through your online portal, choose “Owner Distributions” from the “Money Out” tab, fill in all the necessary fields, and provide the transaction.
Please note! If you want to use the TCPayments powered by Dwolla payment method, make sure the owner has set up a TCPayments powered by Dwolla account in their TenantCloud profile and verified at least one bank account.
Credit card and PayPal online payments require only recipients of the transaction to set up a Stripe or PayPal account.
FAQs you may need: