In the first settlement the initial balances can be entered into the system through payment obligations as it is a commitment from the owners with/towards the community (or a collection right if the balance turns in their favor) for each property they have. This could also be done through the community file and the sub-option of opening balances, specific for that purpose. From that moment, the balances of each financial year are automatically transferred between settlements, even if the financial perdiod changes for example from quarterly to annual or the settlement method changes from budget to overdue expense.
In the following settlements you should only reflect the bank movements in the movement list: income and expenses , indicating, in case it is an expense, if it must be distributed to a group of owners through a distribution group or to a specific owner. You must also indicate the amount of the expense, the date of the movement and any other additional information as for example if that expense belongs to a fund or a project.
The general procedure for the OVERDUE EXPENSE settlements
In the event that the expenses of the community are based on a BUDGET , you should: