ProfitCoach Trust Accounting Request

STAR 2.0

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Instructions

Hi there! We’d love to help you resolve your issue. Please help us serve you by painting a complete picture of the situation. Select your request type/subtype and then complete the form. If a field is not applicable, then enter “N/A,” today’s date, or “0.00.”

Not sure what type of request to select? Review the Request Types sidebar to find the type that best matches your situation, or select Other and we’ll contact you if we have any more questions concerning your request.

If you are a current Trust Accounting client and experience difficulties submitting this form, then please contact your ProfitCoach team for support. If you are not a current Trust Accounting client, then please contact us to get your FREE consultation today!

Email(Required)

Type of Entity(Required)

Type of Owner Request(Required)

Type of Tenant Request(Required)

Type of Vendor Request(Required)

This field is hidden when viewing the form

Type of Other Request(Required)

Add, Edit, or Reverse Charge

ProfitCoach will: Adjust the tenant ledger in the way you specify – add a new outstanding charge, edit an existing charge, or reverse an existing charge so it no longer appears on the tenant ledger. –ALTERNATES– If you want to offset a charge but you want both the charge and the offset to appear on the tenant ledger, please use “Issue Credit”.

Add, Edit, or Reverse Charge(Required)

Which charge?

Please provide a URL/link to charge, or describe the charge (amount, payee/payer, date, etc.)

If this bill has already been paid, how would you like us to proceed?

Cancellation

ProfitCoach will: Stop all recurring charges after the Date of Cancellation, remove the property reserve, use all remaining funds to pay outstanding bills, send any remaining funds to owner, prepare standard paperwork, and hide property & owner when complete. –ALTERNATES– If the tenant needs to be closed out first, select “Yes” to the question about outstanding tasks and let us know in the space provided. Then submit an additional request for “Tenant” > “SD Refund or Transfer” and select “Transfer”.

Cancellation(Required)

Items to Cancel

Date of Cancellation

Has the SD been transferred to the owner/new management company?

If an SD transfer is necessary, but has NOT been requested, then please submit an additional request (SD Refund or Transfer > Transfer SD) with this cancellation request.

Are there any outstanding tasks that must be completed before ProfitCoach can process this cancellation?

What outstanding tasks must be completed before ProfitCoach can process this cancellation?

If a property has a negative balance, how would you like us to proceed?

Enter or Pay Bill

ProfitCoach will: Enter the bill from the information provided (work order, amount, property, vendor, attachments, etc.), approve the bill, and pay the bill according to the “Payment Urgency” you specify below. NOTE: By default, bills will be paid in the normal payment schedule – please select a different “Urgency” if you need it paid at a different time.

Associated Work Order

Issue Credit

ProfitCoach will: Enter a credit to the tenant ledger using the amount & GL you specify. This credit will show on the tenant ledger and will keep all tenant funds on the property. Please indicate whether the owner or the management company should bear the cost. –ALTERNATES– (1) To fully remove a previous charge from the tenant ledger, please use “Add, Edit, or Reverse Charge”. (2) To send funds back to the tenant, please use “Refund Tenant (Not SD)”.

Issue Credit

ProfitCoach will: Enter a payables credit from the information provided (amount, vendor/payee, property). NOTE: Owner credits are invisible until they are applied against a bill. A credit for a future bill will not appear on the owner statement, even if the credit is entered in the system, until the future bill is entered and the credit is applied. –ALTERNATES– If you want the credit to show on the owner statement immediately, please use “Refund/Reimburse”

Issue Credit(Required)

Related Late Fees to Credit

Late Fee

Notice to Pay of Quit

Tax

Stacked Late Fees (Late Fee on Previous Late Fee)

Other Fees Associated with Late Fee

Lease Only (LO) Payout

ProfitCoach will: Verify that the correct fee has been billed and paid out to the management company, process any final owner disbursement needed, verify that all the accounting (owner, tenant, property) is clear and ready to close out if desired, and close out the records if desired.

Lease Only (LO) Payout(Required)

Amount to Send to Owner(Required)

Amount Kept by Management Company(Required)

Owner Disbursement

ProfitCoach will: Verify that the property has enough funds for the disbursement, and process the disbursement for the requested amount. NOTE: By default, disbursements will be paid in the regular disbursement schedule – please select a different “Payment Urgency” if you need it paid at a different time. –ALTERNATES– To refund the owner/property account without making an actual cash payment to the owner, please use “Refund/Reimburse”.

Owner Disbursement(Required)

Pay Vendor

ProfitCoach will: Locate the specified bill, verify that the property has enough funds to pay the bill, and process the bill payment. We will notify you if anything is preventing us from paying the bill.

Pay Vendor(Required)

If the property does not have sufficient funds...

Refund/Reimburse

ProfitCoach will: Record the reimbursement in AppFolio, and transfer funds from the corporate operating account into the property/client rental trust account. NOTE: The owner will not receive a disbursement unless specifically requested. NOTE: Please indicate if this is a temporary reimbursement and we should expect the management company to be repaid. If so, please indicate if we expect repayment from the owner or the tenant.

Refund/Reimburse(Required)

Disburse funds to the owner/tenant?

Cost should be covered by...

SD Refund or Transfer

ProfitCoach will: Check to see if this is a refund or a transfer. REFUND: Verify all charges are added to the move-out, verify the refund or balance due is expected, transfer SD funds if necessary, post & finalize move-out accounting, issue any refund needed, and prepare standard paperwork. TRANSFER: Close out the tenant records at $0, send the security deposit to the owner or new PM that you specify, and prepare standard paperwork. –ALTERNATES– To complete the full property/owner cancellation, submit an additional request for “Owner” > “Cancellation”.

Security Deposit (SD) Refund or Transfer(Required)

Tenant Move Out Date

How much were the Post Lease Cleaning Fees for this Tenant?

Tenant Charges

Amount

Description

Related Work Order (WO)

Tenant Credits

Amount

Description

Related Work Order (WO)

SD Refund Split

Transfer SD to...

Special Instructions for SD

How should the Move Out (MO) be adjusted?

Has the Security Deposit (SD) been sent?

If the SD has been cashed, how would you like us to proceed?

Hold Funds

ProfitCoach will: Put all owner disbursements on hold, stop all management or vendor payments except for the ones you specify, and put flags in our process to spot and prioritize the bill you specify so it gets paid first. NOTE: When you are ready to release the hold, submit another “Hold Funds” request and note that this is the releasing of the hold requested earlier.

Issue Advance Deposit

ProfitCoach will: Locate the bill and verify the information, verify that the property has enough funds to pay the advance, and make a partial payment on the bill for the amount you specify.

Update Info/Check Status

ProfitCoach will: Locate the tenant’s records, review the particular item you are asking about, update AppFolio as needed, and send you a status update.

Update Info/Check Status

ProfitCoach will: Locate the owner’s records, review the particular item you are asking about, update AppFolio as needed, and send you a status update.

Update Info/Check Status

ProfitCoach will: Locate the vendor’s records, review the particular item you are asking about, update AppFolio as needed, and send you a status update.

Update Info/Check Status(Required)

Which field(s) should be updated?

How should the field(s) be updated?

If the payment has NOT cleared yet, how would you like us to proceed?

How can we help clarify this report?

Other

ProfitCoach will: Follow standard procedures for standard requests, thoroughly research and resolve unique cases, and send you a status update.

Other(Required)

Change property reserve to...

Past Owner

New Owner

Date of Change of Ownership

Custom Grace Period Instructions

Refund Tenant (Not SD)

ProfitCoach will: Verify that the property has enough funds, set up the refund on the tenant ledger, issue the check through AppFolio, and send you the check to mail. –ALTERNATES– (1) If you choose to send the payment by ACH, please make sure the tenant’s banking information is attached to their tenant page in AppFolio. (2) To hold the tenant’s funds as a prepayment for future charges, please use “Issue Credit”.

Details

Total Dollar Amount of Request(Required)

If not applicable, please enter "0.00"

Property(Required)

Owner Name(s)

Tenant Name(s)

Vendor Name(s)

GL Account

Payment Urgency

When should this be paid?

Payment Plan Details

New Property Management Company

Payment Method(Required)

How will the check be delivered?(Required)

Where should the check be sent?

Street Address Address Line 2 City State / Province / Region ZIP / Postal Code Country

Related Request(s)

What happened that made this request necessary, and how can we resolve your issue?

Please check all that apply to this request

I'd like to add additional details that didn't fit in this form

Concession due to a management company error

Urgent/Time sensitive

Additional Requirements, Context, Comments, Etc.

File

Drop files here or

Max. file size: 50 MB.

Request Types

Click to read descriptions, processing times, examples, and more!

Add, Edit, or Reverse Charge

Charge owner – Add a bill or invoice to the owner/property.
Charge tenant – Add a charge to the tenant ledger.
Charge bill to tenant – Charge an existing bill to the tenant, so the tenant will reimburse the property/owner for the expense.
Reverse tenant charge – Remove an unpaid charge from the tenant ledger. If the charge has been paid, we generally recommend submitting an Issue Credit > Tenant (general) or Issue Credit > Tenant (apply to specific charge or GL) request.
Reverse owner/property bill – Remove an owner/property invoice from the owner statement. Often requested for duplicate or invalid bills.
Edit bill – Change the details of an existing bill, such as the amount/vendor/property.

Cancellation

Adjust previous cancellation – Change the details of a previously completed owner/property cancellation
Cancellation (ASAP) – Cancel an owner and/or property. Often used when a property is sold or when an owner cancels management. The management company has completed its cancellation-related tasks, and ProfitCoach will complete the cancellation as soon as possible.
Cancellation (future date) – Cancel an owner and/or property in the future. The management company may or may not have completed its cancellation-related tasks, and ProfitCoach will wait to start the cancellation process until after the requested date.

Enter or Pay Bill

Enter or Pay Bill – Upload a PDF invoice, and add any special payment instructions. Payables are completed on a weekly basis, unless requested to pay a bill separately.

Issue Credit

Tenant (general) – Credit the tenant, which will generally apply to any unpaid charges or prepaid rent.
Tenant (apply to specific charge or GL) – Credit the tenant for a specific charge or reason.
Owner – Credit the owner. Please note, an owner credit will not appear on the owner statement, but it will lower the amount due on the same GL.
Late fee – Credit the most recent late fee on the tenant ledger. Please note if the late fee credit should to apply to multiple late fees or other related charges (notice to pay or quit, stacked late fees, etc.)
Free month of management – Credit the owner for future months of management. Please note, an owner credit will not appear on the owner statement, but it will lower the amount due on future charges.

Lease Only (LO) Payout

Standard – Normal Lease Only (LO) Payout to owner after placing a tenant.
Other – Custom instructions for a Lease Only (LO) Payout to owner after placing a tenant. Please detail special instructions.

Owner Disbursement

Hold payments – Do not disburse property’s profits to owner during standard owner distribution. Often used when saving funds for an upcoming invoice, future cancellation, or large negative balance. Hold payments will remain in place until a requested date, triggering event, or an additional request to remove the hold.
Early/additional disbursement – Issue property’s profits to the owner outside of standard owner distribution. Often used if payments have not been received recently (late rent, hold payment, missing banking info, etc.) or if the owner has made a special request for early payment.

Pay Vendor

Early payment – Pay the owner ASAP or earlier than standard payables.
Reissue payment – Void and reissue payment that has not been received after a reasonable amount of time or if vendor payment information has been recently updated.
Payment plan to vendor – Pay an invoice according to a specific schedule. Often used for large invoices.
Hold/pause payment – Do not pay until after a specified date.
Do not pay – Do NOT pay an invoice or a specific vendor until otherwise requested.

Refund/Reimburse

Refund management fee – Refund management fee to the owner/property. Often requested for promos, concessions, duplicate, or overpaid management fees.
Refund vendor bill that was charged to owner – Refund an owner/property for a paid vendor bill. If the vendor is covering the cost, then the management company may need to request a refund from the vendor.
Refund vendor bill that was charged to tenant – Refund a tenant for a paid vendor bill. If the vendor is covering the cost, then the management company may need to request a refund from the vendor.

SD Refund or Transfer

1. Refund SD – Process and issue the security deposit refund. Most often requested when tenant(s) move out. Most jurisdictions require SDs to be processed and refunded within a specific timeframe.
2. Transfer SD – Transfer the security deposit funds to the owner for self-management or to another property manager. Sometimes also requested to transfer SD funds to another property.
3. Move Out (MO) Adjustment – Edit a completed move out. Often requested to adjust the move out charges/credits or SD refund method or addressee.
4. SD Status/Reissue – Please use the “Update Info/Check Status” request type.

Update Info/Check Status

SD Status/Reissue – Check the status of an issued security deposit, and reissue if it hasn’t been cashed.
Vendor payment status – Check the status of an issued vendor payment or unpaid bill.
HUD Status – Check the status of housing assistance payments.
Bank deposit status – Check the status of a bank deposit, ask questions about a bank deposit, or notify ProfitCoach of a bank deposit.
Tax documents/1099 – Check the status of tax documents/1099s and/or request a copy of tax documents/1099s.
Property/unit info – Update or check information in Appfolio on a property or unit page.
Owner info – Update or check information in Appfolio on an owner page.
Tenant info – Update or check information in Appfolio on a tenant page.
Vendor info – Update or check information in Appfolio on a vendor page.
Owner statement explanation – Request clarification on an owner statement.
Tenant ledger explanation – Request clarification on a tenant ledger.
Tenant ledger (merged portfolio) explanation – Request clarification on a tenant ledger from a recently merged/added portfolio.

Other

Adjust property reserve – Change or remove the property reserve.
HUD adjustment – Change or remove the expected HUD payment for a tenant.
Death of owner – Notify ProfitCoach of the death of an owner. This is very important for tax and reporting purposes.
Transfer of ownership – Change ownership of a property that will continue to be managed.
Custom grace period – Custom grace period for late fee calculations.
Other – Any other Trust Accounting request that does not fall under standard trust accounting request types.