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Close the month and pay owners

Post management fees, pay owners what's above each property's reserve, and email every owner their monthly statement in one step.

2 min read · 1 min video

Closing the month is the last step each month. In one go, PropFlow posts each property's management fee, records what you pay each owner, marks the month closed, and can email every owner their statement.

Before you start, record all of last month's rent, HAP and expenses, and check your bank deposits. Make sure each property's fee and reserve are set.

Close the month

  1. Go to Accounting → Close the month. It opens on last month. Use the arrows to pick another month.
  2. Read the totals: Rent & HAP collected, Management fees to post, Available to pay owners and how many properties are Closed.
  3. Look at each owner card. It shows Held (cash held for them), Reserve and Available (what's above the reserve). Click an owner to see each property.
  4. In each owner's Pay box, enter what you're paying them. Fill suggested payouts fills in what's available for owners due this month. Pay everyone what's available fills in every owner. Clear payouts empties them all.
  5. Set Payouts go out on and Paid by (ACH, Check, Wire, Zelle, Cash or Other).
  6. Leave Email each owner their <month> statement ticked to send each owner a PDF statement. Replies come to you.
  7. Click Close <month> and confirm the fees and payouts.

Closing posts each property's fee on the last day of the month, records the payouts (an owner's payout is split across their properties by what each has available), and locks in the month.

Heads up: You can't pay an owner more than their Available amount. If you do, the box turns red and you'll need to lower it before you can close.

After you close

  • Closed properties show under Closed for <month> with the fee and payout.
  • If an owner didn't get their statement, use Email the N not sent, or Email everyone again.
  • Click Statement on an owner card to see the statement they get.
  • Made a mistake? Click Reopen on a property. The fee it posted is taken back, but payouts stay on file. Fix things, then close it again.

Questions

Can I close the current month early?

No. Before the month ends the page is a preview. You can close it once the month is over.

Why isn't an owner's payout filled in?

Fill suggested payouts skips owners paid quarterly outside March, June, September and December, and owners set to Hold. You can still type an amount by hand. See Owner payouts.

I'm only seeing some properties.

The page follows the Showing filter at the top of the app. Switch to all properties to close the rest.

Who can close the month?

The owner and managers. Only the owner can change fees and reserves.

Didn't answer your question?

Contact support and a real person will reply within one business day.