The 'Process Taxes' screen is utilized by Property Managers who handle taxes on the owners behalf and would like to itemize what has been remitted to display on the owner statements.
Instead of only sending the net rental amount (after tax), this approach provides owners with a comprehensive, itemized breakdown of the taxes paid on their behalf, ensuring transparency.
Make sure you have accurately set up your tax settings to enable this feature. For additional information, refer to this article: https://ciirusone.screenstepslive.com/s/24800/a/1704556-crediting-rental-income-excluding-or-including-taxes
Where To Go
Accounting
End of Month Process
Process Taxes
Processing Taxes to Owner Accounts
Specify the Date Range
Choose whether to include Owner and Canceled Reservations
Audit the reservations to ensure the tax amounts are correct and select the reservations to apply to the Owner Accounts
If the checkbox within 'Sent to Owner Account?' is checked, this means that the taxes for this reservation has already been processed to the owner's account.
Click 'Process Selected'
After processing, the taxes will be displayed as separate debit line items on the owner's account, providing a detailed breakdown of the taxes remitted on the owner's behalf. The rental income shown is the gross amount, which includes taxes. The tax is then deducted in the subsequent line items as follows:
