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This facility allows the sharing of certain general ledger accounts between a group of Properties or Agent  s.  In the case of a group of Properties, a master Property for the group is decided on, and once setup, each entry posted to one of the shared accounts, is re-routed via an inter-Property loan account (a separate one for each transaction type) in both properties, to the relevant account in the master Property. The same principles apply to the Agent   level.

 

This facility is particularly useful where a group of separate properties is owned by one legal entity, has one local bank account, and one VAT registration.  In this instance the VAT control account, 3272, and the local bank account, 4117, can be shared.  The VAT returns for the group and the local bank account reconciliations can be done from the master Property only.

 

Allowed accounts for sharing:

 

3272 - VAT control

4117 - Local bank account

3207 - Creditors control

4165 - Debtors Control

 

The inter-Property loan accounts that build up will contra out on all of the consolidated reporting facilities.

 

Setup:

 

Menu: Setup or Maintain Menu, Maintain/Setup Property, Field 33.  (Maintain/Setup Division for Agent level)

 

By pressing 'F3', the displayed table will allow the entry of the shared general ledger account number, and the Property that the entries are to be re-routed to. No entry need be made on the master Property.

 

Pressing 'F2' on the Nnla column, will display a list of the allowed sharing accounts.

 

Note:  It is generally advisable to set sharing up at a month-end, or from the creation of the properties.

It should also not be setup while there is activity on the system, in case a transaction is caught in between the setup process. An evening is usually the best time.