Non-Mutual Income

The instructions in this article relate to Non-Mutual Income. The icon may be located on your StrataMax Desktop or found using the StrataMax Search.

The Non-Mutual Income report includes all non-mutual account codes with transactions producing the description, last year amount, current year amount and total for the tax year. This report will only produce data if the account codes have been correctly setup as ‘Non-Mutual’. An example of non-mutual Income is any income that hasn't generated from levies, for example, interest on investments, vending machines, telecommunications tower etc. This setup should be completed in conjunction with the advice of a registered tax agent / accountant. The production of this report can be completed per property/building or globally as below. Properties must be set as GST registered in Building Information and the non-mutual income will only report if the BAS Info Editor has been set up for the PAYG instalment tax obligation as advised by the Australian Taxation Office.

Non-Mutual Income Setup

1. From the Building Selector Tool click Select Master Chart Building.
2. Search or select Account Maintenance. 
3. Locate the account code required to be set to Non-Mutual Income and click the Edit (pencil) button.
4. Tick the 'Non-Mutual Income' box. 
5. Click Save. 
6. Repeat for any further accounts that are required > Exit.

Non-Mutual Income Report (local) 

This option is for running a local Non-Mutual Income report which will export to excel.

1. Search or select Non Mutual Income.   
2. Set output to either 'Printer' (print), 'Screen' for a PDF, or 'Excel' to export to Excel. 
3. Click OK.

Non-Mutual Income Report (global)

This process listed below is for running the Non-Mutual Income report globally. It should be noted that this report will produce into a PDF format. Accounts which are used to record assessable income must be set as 'Non-Mutual Item' = 'Y'. These accounts are used in calculating income tax instalments.

1. Search or select Reports/ Utilities (Global). 
2. Select Global > Non Mutual Income.
3. Click Select Buildings > tag all (Crtl+A) buildings > click Proceed.
4. Select either 'Print' / 'Email' / 'Save' / 'Save to DocMax' where required > Close.

Non-Mutual Income Configuration

1. No Records Printed Report
If a report produces no records, choose what happens:

• Confirm Each Time
• Always Print Report
• Never Print Report

2. No Records Printed Report - Global Report
If a report produces no records, choose what happens:

• Confirm Each Time
• Always Print Report
• Never Print Report

3. Global Reports Open Access
If ticked, the the global report process will not check locked buildings.