Managing bookings and transactions for property management can be intricate, especially when it comes to billing responsibilities between property owners and management companies. Without clear delineation of responsibility, it's challenging to accurately bill transactions and generate statements for owners and management companies.

Clearing introduces a powerful solution to this challenge with its new Trust Accounting Field. This feature offers granular control over managing transactions, allowing users to define who is responsible for each transaction - whether it's billed to the owner, the management company, or excluded altogether. With this feature, property managers can streamline their billing processes, minimize errors, and improve overall financial management.

Clearing's Trust Accounting Field is seamlessly integrated into the platform's transaction management interface, ensuring accessibility and ease of use for property managers. Located in line with each transaction, users can effortlessly navigate to the Trust Accounting Field to define billing responsibilities for each transaction. Upon selecting a transaction, managers are presented with options to assign it to the property owner, the management company, or to exclude it from billing entirely. This intuitive interface empowers users to make informed decisions regarding the financial attribution of each transaction, ensuring accuracy and transparency in financial reporting.

Additionally, Clearing's Trust Accounting Field is adaptable to various transaction sources, including bank feeds, Stripe payouts, and individual expenses, providing comprehensive coverage across all financial activities. With this robust solution, property managers can confidently manage their finances, streamline billing processes, and maintaining clear communication with property owners and stakeholders.

With Clearing’s Trust Accounting Field, gain granular control over your transactions, effortlessly allocating expenses and excluding irrelevant entries. By seamlessly defining responsibilities between owners and management companies, you can ensure accurate financial reporting and streamlined statement generation.

Ready to take control of your property management finances?

Connect with us for a personalized demo and discover how Clearing's Trust Accounting Field can revolutionize your financial operations.

Curious to learn about how to use Clearing’s Trust Accounting Field to gain granular control over managing transactions?

Explore our step by step knowledge article on this topic and unlock a new realm of control and clarity in your Short-Term Rental trust accounting endeavours.

Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

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