When you sync distribution data from Covercy to Rent Manager, bills are automatically generated in Rent Manager's accounting journal:
- A separate bill is created for each investing entity within a selected distribution.
- Paid bills for completed transactions.
- Unpaid bills for incomplete transactions.
- A bill entry (row) is created for each transaction type associated with a General Ledger (GL) account.
- For instance, you can choose to log only Return of Capital and Profit transactions, or expand your records by configuring GL accounts for additional types such as Taxes and GP Promote.
- If a GL account is not configured for a particular transaction type, no bill entry will be created for it.
- You also have the flexibility to assign the same GL account to multiple transaction types, depending on your accounting needs.
- No existing records in Rent Manager will be modified or deleted.
Examples
Emily Davis receives a distribution of $130,000:
- $50,000 Return of Capital
- $80,000 Gross Profit =
-
- 50,000 Net Profit
-
- 24,000 GP Promote
-
- 6,000 Tax Withholding
Example 1: Granular - Assigning a specific GL account to each transaction type
GL Accounts configured: 
Bill Output:
Total Amount: $130,000
The bill reflects the full distribution amount, with each transaction logged to a different GL account.”
Example 2: Using the same GL account for multiple transaction types
GL Accounts configured:
Bill Output:
Total Amount: $130,000
All transaction types were mapped to the same GL account. The bill will reflect the full distribution amount, and all of the transactions are logged on the same GL account.
Example 3: Missing Mappings - Not accounting for all transaction types
GL Accounts configured:
Bill Output:
Total Amount: $100,000 (not $130,000)
In this example, not all transaction types were mapped: GP Promote ($24,000) and Tax Withholding ($6,000) were not mapped to GL accounts, so no entries were created for them in the bill.
