Record Owner Credit

Overview

To record an owner credit, open Financials → Bank Feeds → the To Review tab → click the money-in transaction to open Reconcile transaction, then under Included payments click Add a payment → choose Owner Credit → pick the property → enter the amount → click Reconcile.

Record the owner credit

Open your bank feed

From the left sidebar, open Financials and click Bank Feeds. The transactions that still need reconciling are on the To Review tab. (Recording an owner credit — and reconciling generally — is only available to property managers with finance permissions: a finance person or a principal. Other property managers are taken to the Held tab and can't open To Review or Reconciled.)

Open the transaction

Find the money-in transaction where the owner has paid funds in and click its row. The Reconcile transaction window opens, showing the transaction details and any AI Recommendations. Reconciliation must be done on a larger (desktop-sized) screen — on a small screen a "Transaction reconciliation" not-viewable message appears instead of the window.

Add a payment

Under Included payments, click Add a payment to add a row.

Choose Owner Credit

In the row's Type dropdown, select Owner Credit.

Pick the property

In the Property column, search for and select the property the credit belongs to. You can also click the owner search icon on the right of the row to find it by owner name. The Tenancy column stays N/A — an owner credit attaches to the property, not a tenancy.

Enter the amount

In the Amount column, type the amount of the credit. If the whole transaction is the credit, click the calculator icon to fill in the remaining balance so the payments add up to the transaction total.

Reconcile

Click Reconcile. The transaction is reconciled straight away and moves to the Reconciled tab.

Note: Owner Credit only appears on money-in (credit) transactions. If you don't see it in the Type list, check that the transaction is money-in.

Split one transaction across several payments

Add each part

If a single deposit covers more than the owner credit — for example some rent as well — click Add another payment and set the Type, property and amount for each part.

Make the amounts add up

Use the calculator icon on a row to apply the remaining balance. Keyhook won't let you reconcile until the included payments add up to the transaction total.

Reconcile

Click Reconcile.

Note: You can only record one Owner Credit per property on a single transaction. If a deposit covers credits for two properties, add a separate Owner Credit row for each.

Create a rule for recurring owner credits

Tick the create-rule box

Before you reconcile, tick Create a new rule from this reconciliation, above the Included payments table.

Reconcile

Click Reconcile. Future transactions with the same amount (and description, if there is one) are then recommended for the same owner credit, so you can reconcile them quickly.

Frequently asked questions

What is an owner credit for?

It records money the owner has paid into your trust account — for example topping up funds to cover upcoming maintenance or expenses. It's recorded against the property and adds to the funds held for that owner, so it shows on the owner's statement.

Why can't I see Owner Credit in the Type list?

Owner Credit only shows on money-in (credit) transactions. On a money-out transaction you'll see a different set of options.

Do I need to select a tenancy?

No. An owner credit attaches to the property only, so the Tenancy column shows N/A. You only need the property and the amount.

What happens after I reconcile?

The transaction is reconciled immediately and moves to the Reconciled tab. The credit is recorded against the property and appears on the owner's next statement, increasing the funds available on that property.

Can I reconcile an owner credit alongside rent in the same deposit?

Yes. Add a row for each part under Included payments, set each one's type, property and amount, and make sure they add up to the transaction total before you click Reconcile.