Managing properties

Setting up a property is quick: a name, an address, and the owning legal entity. Add the spaces within it so leases have a unit to attach to.

Example: a two-suite asset

You acquire a retail asset with two units.

1. New property → "Maple Plaza", with its address and owning legal entity.
2. Add two spaces: "Suite 100" and "Suite 200".
3. As tenants execute leases, capture each against the property and its space — see Creating a lease.

Maple Plaza is now ready to lease, bill, and report against.

Create a property

1. Go to Properties and select New property.
2. Enter the name and address.
3. Select the owning legal entity.
4. Save. The property is now selectable wherever a property is required.

Add spaces

1. Open the property and go to Spaces.
2. Add a space per leasable unit — "Suite 100", "Suite 200", and so on.
3. Save. Spaces become available when capturing a lease against the property.

Managed properties

A managed property is owned by a client whose books you keep. It behaves like any other property for day-to-day work — leases, bills, invoices, taxes, insurance and banking all run against it normally — but it is deliberately kept out of your own consolidated results.

Each managed property sits under its own managed legal entity, which represents the external owner. That separation is what keeps the two sets of books apart.

Add a managed property

1. Go to Properties and select Add managed property.
2. Choose how the owning entity is set up:
   • New entity — creates a managed legal entity for this property. Name it under Legal entity name, or leave it blank to reuse the property name.
   • Existing managed entity — attach the property to a managed entity you have already set up, when one owner holds several assets.
3. Select the Managing entity — your own entity that manages the property. This is always one of your entities, never a client's.
4. Enter the name and address as usual, then Save.

Add spaces exactly as you would for any other property.

What managed properties are excluded from

The exclusions below are by design, not a setting, and they cannot be switched off:

• Consolidation — a managed entity cannot be added to a consolidation group.
• Distributions — a distribution cannot be declared against a managed entity.
• Owner allocations and investor reporting — activity in a managed entity is never allocated to your beneficial owners and never appears on an investor statement.

This is what keeps a client's results out of your own. Everything else — the general ledger, AP and AR, taxes, insurance, payment runs — works normally.

Seeing managed properties in lists and reports

Managed records are hidden by default, so your own portfolio is what you see unless you ask otherwise.

• Properties and Legal entities lists carry an Ownership filter set to Owned. Switch it to Managed or All to widen the list.
• Financial reports — P&L, balance sheet, cash flow and AP/AR aging — cover your owned entities only. Naming a managed entity explicitly still reports on it, so you can run a client's numbers on demand.
• The Include managed entities switch on the Dashboard widens the entity pickers throughout the app.

Posting into a client's books

When a managed entity is selected on an invoice, bill, credit memo, vendor credit, deposit or refund, the dialog notes "Managed entity — this posts into client books." Treat it as a prompt to confirm you meant that entity before posting.

Deactivate a property

To take a property out of use, mark it inactive rather than deleting it. Posted history and prior-period reporting are preserved; it is removed from selection on new activity.

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