A personal property account is an account for tracking property that is movable and not fixed or associated with land. Personal property for a business, for example, might include equipment, office furniture, cars and trucks used by the business, and so on.
Create a new record for a personal property account.
Do this...
1. Open Connect Property Tax Collection > Personal Properties > Setup New Personal Property Accounts.
2. What is the account number? Click on the Account Number field, and then type in a unique number.
3. Fill in the fields.
4. Add property to the account.
5. Click Save (CTRL+S).
The personal property account is saved.
Edit the properties assigned to a personal property account.
Do this...
1. Open Connect Property Tax Collection > Personal Properties > Modify Existing Personal Property Account.
2. Enter an account number in the Lookup bar. Press Enter.
3. Now, you can update the record.
4. Click Save (CTRL+S).
The personal property account is updated.
You cannot delete a personal property account when related transactions exist.
Do this...
1. Open Connect Property Tax Collection > Personal Properties > Modify Existing Personal Property Account.
2. Enter an account number in the Lookup bar. Press Enter.
3. Click Delete (CTRL+D).
The personal property account is deleted.
The fields on the Personal Property Account tab defines the default settings on the account.
An account number is the primary identifier for ownership of an account.
Use History to view changes that have been made to tracked fields. When you set up a tracked field in the Organization table, the system will record the field's current content. When the content in the field is updated or deleted, the system will record the date and the new value. History tracking is useful when its important to keep tabs on critical information.
How do I view history for tracked fields?
Click the History button, located on the main toolbar, to show the history for fields that are being tracked.
How do I set up tracked fields?
The Tracking tab in Organization stores the fields that will be tracked. Open Organization > Organization > Tracking tab to get started. Click [+] to expand each section. To track a field, select the History Tracking, Management Tracking, or Management Deletions checkbox. Use History Tracking to allow all users who have access to the routine to view the tracking history. Use Management Tracking when you want to record changes to tracked fields but you only want to show the tracking history on Management reports. Use Management Deletions to include the values for the selected field on Management reports when a record is deleted.
The account status changes to inactive when you load a date in this field.
An active status allows users to select and create transactions for the account. An inactive status does not allow either option even though the account is saved in the database.
What is the status of the personal property account?
This account is active. The Inactive Date field should be blank.
This account is not active. Use the Inactive Date field to enter a MM/DD/YYYY. This date prevents others from selecting or creating transactions for this account..
The owner is the individual or entity that is responsible for this account.
What is the owner's name?
I know the owner name. Use the Owner field to enter a name.
Help me find an owner name. Use the Owner menu to select Search.
Show me more information about the owner. Use the Owner field to enter a name. Then, use the Owner menu to select Additional Information.
I need to add a new owner. Use the Owner menu to select Add New, or use Owners > Setup New Owner.
I need to update an owner record. Use the Owner menu to select Modify, or use Owners > Modify Existing Owner.
The parcel ID is a unique number assigned to a tract or plot of land.
What is the parcel ID?
I want to select a parcel ID. Use the Parcel ID drop-down list to choose from a list of saved items.
I want to enter a new parcel ID. Use the Parcel ID field to type in a new parcel ID.
Show me more information on the selected parcel ID. Use the drop-down list to select an ID, then click More Information.
A personal property is property that is movable and not fixed or associated with land.
What do you want to do?
Add personal property to the account. Use the Personal Properties tab to click Add a New Personal Property. Then, fill out the fields on the Personal Property subtab. There may be more information to fill in on the Additional Fields subtab.
Remove personal property from the account. Click on the Personal Properties tab. Select an item from the items shown in the list. Now, click Remove the Selected Personal Property.
Interest is the amount charged by the lender to the borrower for the use of funds. An account that is subject to interest will be billed interest on the unpaid amount.
Is the account subject to interest?
Yes, bill interest. Click to select Subject to Interest. This checkbox is located on the Personal Property Account tab.
No, do not bill interest. Click to deselect Subject to Interest.
A penalty is the sum to be forfeited based on the specified conditions and terms. An account that is subject to penalty will be billed a penalty amount or percentage when the unpaid amount is overdue.
Is the account subject to penalty?
Yes, bill penalty. Click to select Subject to Penalty. This checkbox is located on the Personal Property Account tab.
No, do not bill penalty. Click to deselect Subject to Penalty.
Use Taxing Districts to group taxing entities together into a taxing district. You can associate a taxing district to a property.
Which taxing district does the parcel ID belong to?
I want to select a taxing district. Use the Taxing District drop-down list to select a taxing district.
I need to add a new taxing district. Open Organization > Taxing Districts. Then, click New (CTRL+N) to add the new record.
Use the options on the Personal Properties tab to add personal property to the account.
This is the value of the personal property.
This is a brief description to identify the personal property.
The personal property status changes to inactive when you load a date in this field.
A tax code calculates an amount based on the property value.
Use this field to assign the personal property to a group or category.
This is the year the personal property was purchased.
Use this tab to enter the property value, assign the percentage subject to tax, and define the taxable value.