Overview
If you completed the management fee creation process for the month and later realized you entered incorrect payments or left out other transactions, don't worry, you can fix it!
If all you need to do is add management fees for additional payments, you can just create an expense for the additional management fee. If you use the accrual instead of cash accounting method and the charge for dues was recorded correctly, you don't have to do anything because management fees calculate based on the charge for dues, not the payment.
However, if you realize you used incorrect payment amounts to create the management fees, you will need to delete the management fee bills and start over. The steps below walk you through this process.
The Steps
If you created management fees with incomplete data, you will need to delete the bills and redo the management fee process. (Make sure all lease transactions are accurate before redoing your management fees!)
The first step to redoing your incorrect management fees is to find and delete bills and bill payments for those management fees. First, click on Reports on the main menu. Then under the Accounting section, click the Transactions List report.
On the Transactions List report, find the bill you want to delete. You can filter by Type=Bill, select a date range, or use the Filter button and filter by other fields to make finding the bill easier.
If you also paid the bills, you will need to find and delete the Bill Payments before deleting the Bills. Delete bill payments by filtering for Type=Bill Payment. Then, delete bills by filtering Type=Bills. Delete these by clicking on each line item in the report and choosing Delete in the lower left corner of the screen.
After you've deleted the bill payments and bills, you will need to redo the Create and Pay Management Fee Bills process. When running your management fees again, make sure the correct date range is selected. Then click the Filter button and under the Billed Properties option, select to Include Already Billed. This lets you see the properties which previously had management fees created for them, so you can select the ones you need to recreate management fees for before continuing the process.
Once the new bills are created and paid, they'll reflect the corrected amounts, and your reports will update accordingly.