A charge is a financial transaction that represents money owed by an association owner. Sometimes charges are known as accounts receivable or A/R.
Entering charges correctly helps you track delinquent association owners, as each charge in Buildium should be offset by a payment.
In this article, you'll learn how to:
Many charges will post to your owner’s lease ledger automatically, but there are times you may need to add a one-time charge for things such as damages or NSF fees.
To add a one-time charge for an association owner:
- Type the owner’s name into the search bar and click Ownership account ledger next to the owner’s name.
- From the account ledger, Select Enter charge.
- Fill out the form with the due date and amount. Enter a memo, and select the account type for the charge.
- If you’re entering a charge that represents money owed for multiple account types, click Add row to enter additional information and reallocate the total amount.
- Click Save charge to post the charge to the owner’s lease ledger.
A recurring charge is posted automatically by the system on a pre-set frequency. The most common type of recurring charge for an association owner is an association fee charge.
Recurring charges are usually created when a new owner is added to the system, but you can add new recurring charges at any time.
To add a recurring charge to an existing owner ledger:
- Type the association owner's name into the search bar and click Ownership account ledger next to the resident’s name.
- Click Recurring transactions, then click Add recurring charge.
- Enter the amount, account type, and frequency of the charge.
- In the Next date section, select the first date you want the charge to post, and choose a duration.
- When you’ve filled out the form, click Save.
If the recurring charge date you entered is a date in the past, it will take Buildium some time to post the charge on the ledger for you. Recurring transactions are posted in a batch process that runs overnight, so depending how far back the charge is dated, it may take a few days for all past recurring charges to post.
To force a recurring charge to post immediately after creation:
- Click Recurring charges on the ownership account ledger.
- Click into the back-dated recurring charge, then select Edit recurring charge.
- Do not make any adjustments, just click Save.
- You’re going to get a warning that tells you Buildium could add up to 30 charges to the ledger immediately.
This warning lets you know that if the next due date of the recurring charge is that far back in the past, the system can post charges from that date forward. Just make sure your charge dates are correct, then click Yes.