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Assigning properties to ledgers

Lisa
Lisa
  • Updated

In Jupix, it's possible to create Landlord Ledgers and assign properties to ledgers via the landlord record. Depending on the landlords requirements, this allows you to create a single statement for the portfolio, or a statement per property.

  1. Click Landlords on the main homebar
  2. Search for the landlord in the Find bar and click Go. Click View on the relevant landlord
    1. Alternatively, find and click the landlord from within the Last Viewed section
  3. Click the Landlord Ledgers tab 
  4. Click Special Actions
    For more information on Adding a landlord ledger, click here
  5. To assign properties to existing ledgers, click Assign Properties To Ledgers

Follow the processes below for the relevant scenario. 

Single ledger per property  

The diagram below shows a scenario where a single landlord owns two properties

APL1.png

  • One landlord ledger per property
  • One statement per landlord ledger 
  • One payment per statement

APL1A.png

Single ledger with multiple properties  

The diagram below shows a scenario where a single landlord owns multiple properties but only requires one statement and a single payment

APL2.png

APL2A.png

A single landlord with multiple ledgers and multiple properties assigned to each  

The diagram below shows a scenario where a single landlord owns six properties, spread across two landlord ledgers

  • Two statements are generated. One statement for each landlord ledger
  • Each statement shows the income relating to all three properties assigned to it
  • Each Ledger has its own payment details and one payment will be created per landlord ledger

APL3A.png

A single property jointly owned by two landlords who own 50% each  

The multiple schedules allows you to create completely separate statements for each landlord. The landlord ledgers relate to the individual landlord, not the property.

Any charges applied to the property ledger will be split out and charged to each landlord ledger separately, based on the percentage split of ownership.

APL4.png

APL4A.png

The main benefits to this are:

  • Overseas tax calculation is more accurate and can handle more complex scenarios. A breakdown of the tax calculation can be provided, per landlord ledger
  • Reporting on landlord income is more accurate, as all income and fees are split according to the percentage split of ownership
  • A charge can now be raised against an individual landlord ledger, rather than the property, where a charge only applies to that landlord