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					The Visual One Condo Accounting Module was designed to quickly and easily calculate the revenues, expenses, and profit sharing between Condo Owners and the Management Company. Visual One provides a variety of reports that are useful for both the management company and the condo owner. The Condo Module was designed to work in conjunction with the Visual One Accounts Receivable module. Users can access all of functionality of the AR module, such as direct billing owners for charges they accumulate during their stay, and easily charge users other expenses related to owning the condo unit. Along with all of the reports in AR, the user can access a number of reports to easily keep track of charges and credits to the condo owners. The basis for the Condo Module is to automatically calculate the appropriate commission percentage(s) for the management company for the appropriate revenue post types being shared and then make the entries into an accounting batch in the general ledger and the accounts receivable ledger to the condo owners. These numbers are automatically calculated during the night audit along with the day’s activity. These calculations can also be recalculated at any time for any past date. Along with this automatic breakout of commissioned revenues, a number of reports exist for both the owner and the management company to quickly analyze the profitability of a condo and the various expenses appropriated to the condos. Also included is functionality to automatically have Accounts Payable Invoices “charged back” to the owners when it is directly attributed to a condo, and it will also automatically charge owners based on maintenance work orders through the Visual One Property Management System when those orders are designated as billable to the owner. The combination of the functionality and the reports will greatly reduce the time necessary for an accounting staff to calculate, distribute, and report the revenues and expenses to the condo owners. Condo Accounting requires that the Visual One Accounting A/R module be installed.

ADvanced Hospitality Solutions

5 Office Building Soi Watcharaphon Ram Inthra Road Bangkhen, Bangkok Thailand, 10230

Tel +66 2 510 4043 Fax +66 2 519 2184 information@adhsolutions.com www.adhsolutions.com


				
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posted:2/19/2009
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