Owner Periods

  1. When the following is complete a property is able to run owner statements:
    1. All owners have owner records created with fully filled out contracts
    2. Property Owner Transaction Fees have been entered into Property Management, under the Payment Type Management tab. (If applicable)
    3. All historical reservations have been imported to the system with room assignments.
    4. All OTA rate codes have appropriate OTA fees attached
    5. Owner charges/cleaning fees for pre-WavePM owner reservations have been entered manually to the owner records.
    6. A start date period should be run with full payments to zero balance to initiate WavePM start date. (When property management system was fully switched over to WavePM) 
    7. Enter the property logo in property Management – Main – Standard Logo URL
  2. All data can be analyzed per unit number using the Owner Revenue report before running statements. If at this time there are any questions, please reach out to support@wavepm.com.  
  3. Go to Reports – Owner Statements, set a period date and click preview.
    1. Note: This process can take up to 30 minutes depending on the property and the complexity of the period being run.
  4. When statements are done being run click process.
  5. Go to Reports – Owner Periods
  6. You will see the owner period that was run with the period and the date run
    1. “Publish” means that the statements will show up in Owner Portals, select this checkbox when payments have been made and ready to deliver to owners.
  7. Within the Period report you can do the following:
    1. Print All: Prints all owner statements by Unit number. This is the only sort option for Print All. You can sort the page by owner name and print one by one. Note: If the owner owns more than one unit, each unit will have its own statement.
    2. Apply Payments: All payment amounts shown will be applied, and a date can be set. This means that payments made externally have been processed, this balances out and pushes balances forward as necessary.
    3. Re-Process Owner Statement: When working within the most recent period processed, there is an option to delete the owner statement, complete some reservation update/changes and re-process that statement for the same period.
  8. When the next period is run, it will start with the most recently run statement.