One of the primary functions you must perform is reporting a unit’s income and expenses to the owner. This reporting is accomplished through the printing of the owner statements. Normally, statements are printed once a month, but any period could be used. These statements are broken down into three major categories: rental income, maintenance expenses and miscellaneous receipts and disbursements. The net of these three categories will either produce a positive net to the owner, thus generating a check to him, or a negative amount, thus creating a balance forward that will be brought forward and subtracted from his next owner statement.
See Also Owner Statements Report