In Buildium, a paycheck or disbursement of funds to a rental owner is called an owner draw. An owner draw is an equity transaction.
An owner draw is often one of the last steps in the accounting cycle. After you've collected tenant payments, paid bills and expenses, and collected your management fees, the remaining funds available should be what is paid to an owner.
It's recommended to double check your monthly transactions by running a Rental Owner Statement before completing an owner draw.
Record an owner draw by check
Save time! Access this feature from any screen using the shortcuts menu.
- Navigate to Rentals > Rental owners.
- Click Owner draw.
- You can select to initiate a disbursement for all owners, or individually.
- Select which properties you'd like to include in the disbursements.
- Buildium calculates the available balance for each property automatically. If necessary, it will move money between properties for you as well.
For example, see Sally Walker in the image below. The software will move cash from 39 Franklin Street to cover the negative balance on 15 Main Street, then will pay Sally the remaining available funds.