Available cash is the amount of money available to be paid to a rental owner.
When recording an owner draw, the available for payment column will pull from the owner’s available cash as of today.
This amount is calculated by taking total owner income- expenses +/- equity transactions like previous owner draws or owner contributions.
- For an example let’s say rent income of $1,000 was collected on the owner’s property. A management fee of $100 and repair expense of $50 was recorded on the property along with a rental owner contribution of $50.
- The owner’s available cash or available for payment would be $900
- Rent income + $1,000
- Management fees - $100
- Repair expense -$50
- Owner contribution + $50
- Available for payment = $900
If this amount is incorrect, we recommend running the rental owner statement report to troubleshoot. The rental owner statement will show you all the transactions affecting the owner’s available cash. It a great place to find missing or incorrect transactions on the owner’s properties that will cause
Some tips when running the rental owner statement:
- Check the properties beginning balance. At times, changes to past transactions can affect the owner’s running available for payment balance. Running a rental owner statement with a prior start date will help you find discrepancies.
- Run the rental owner statement including the transaction details. Seeing more a more detailed view can also help to find discrepancies or missing transactions.
- Ensure everything that was collected or paid in the real world is entered into Buildium. This is sometimes the culprit when the available for payment amount is not what you would have expected to see.