Landlord Payments Button
Location... Landlords main screen > .
This screen is used to hold data relating to payments to a landlord.
Information from here is used for:-
making direct credit payments
holding back landlords money
printing landlord statements
recording landlord statement specific documents such as invoices.
A landlord may be paid by direct credit - DC, or cheque - CHQ.
Changing the Payment Method on this screen does not change the method used in existing transactions.
The Payee field will auto-fill from the name and address details entered but may be over keyed if required.
It is the data printed on reports and included in some banks' direct credit files.
Do not use special characters as they are rejected by the banks and the Aspect Property Manager strips them from the DC file.
Bank Account Number
A bank account number is not required when payments will only be made by cheque.
Must be entered and valid when the Payment Method is DC.
Presence of a bank account number does not stop payments being made by cheque.
Bank reference fields
These fields will auto-fill with data entered on the Setup menu > Company Details > Payment Defaults screen.
They will be printed on reports and included in the direct credit file sent to your bank and appear on the statement the landlord receives from their bank .
See Bank Reference Fields for more information.
Any amount in this field will be added to the Minimum Payment amount and the total deducted from the landlord's balance in the Admin menu > Payments > Generate Payments process and any (positive) amount left over will be paid from the landlord account.
A manually created (ad hoc) payment ignores the amounts above and offers the total balance as the payment amount.
If you wish to retain some of the landlord funds, perhaps to cover future expenses that normal rental income will not meet, enter the amount to hold in this field.
An entry here to cover contingencies is useful where landlords reside overseas, or who may be difficult to contact.
To hold everything enter a very large number.
4 Time has suggested using two values as "flag" amounts
4 $1,000,000 means I never expect to make any payments from this account and would be entered on special landlord accounts such as Bank Fees, Unidentified Items, Balancing Items or other similar special accounts you may set up.
4 $10,000 means I am temporarily not making any payments from this account. It would be used when doing a casual let and you want to wait until the cheque has cleared, or when you hear a property is being sold and have not been advised of its pending sale.
4 The latter avoids paying out the landlord and then having invoices for work you have instigated appear with no landlord funds to pay them. If the "rumour" is false make a manual payment.
Use this field if you have a group of landlords who get paid more frequently than other landlords.
The entry should consist of a different alphabetic or numeric for each different group of payees.
Make the same entry in this field for each landlord who will be paid at the same time.
You may have multiple Interim Payment codes.
The Interim Payment grouping only applies when having the system generate payments for you.
Regardless of any entry in the Interim Payment field the landlord will be paid in the normal Generate Payments run.
If all landlords are to be paid every time you pay out, for example twice a month, do not use the Interim Payment flag. Just simply run the Generate Payments program as often as required, in this example once in the middle of the month and again at the end of month.
Statement Message and Retain box
Use this message box to communicate with the landlord to save writing a separate letter or email. Eg "Redecorating lounge now complete and it looks wonderful".
Add a comment or an explanatory note about an item on their statement which may need a more complete explanation than is available on the receipt or invoice/charge lines.
The entry made will appear on any statement printed for this landlord but only during the current period and will "vanish" during the End of Period processing unless the Retain box is ticked.
If you enter a Hold amount to cover, say roof repairs for which you have yet to enter an invoice, your message could be "Balance being held pending roofing invoice". In this case you may wish to tick the Retain box if the repairs are likely to run into the following month too.
If you have a property with multiple owners who each want to receive a hard copy statement, enter the additional names and addresses in the message box and tick Retain. Also enter the Number of Statements required when hard copy statements are mailed out.
This selection determines the type of statement to be produced for the landlord, hard copy only, email only or both hard copy and email.
Enter the number of hardcopy statements to be produced. This entry is ignored for emailed statements see Emailing Statements below.
Enter zero if no statements are to be produced. This may be the case for the special landlord accounts or where a balance is in the landlord's account but you no longer wish to send out a statement.
Statements Email copies to:-
If additional people are to receive a copy of the statement enter each address on a new line.
Do not enter any separating characters such as commas, semi-colons, slashes etc.
Do not enter anything other than email addresses
If the statement is to be emailed:-
There must be a primary email address
4 Statements Reqd must be set to Email or Both.
4 The Number Reqd will be ignored and one statement will be emailed to the primary email address and one copy to each of addresses in the Statement Email Copies to box.
Statements Attachment Button
This button opens a sub-screen where documents specific to this landlord may be attached to any statement emailed.
The document is attached to the landlord and is added to the database and is included in subsequent backups.
If the original file or scanned document is deleted or moved a previous period statement still can be produced with its attachments.
Only when a statement which has personalised attachments is actually sent from the Email Queue will an entry be made in the Correspondence File. The record shows a statement was sent and has a link to the personalised attachments.
Note The Correspondence File does not keep a copy of the statement itself, nor any common attachments, nor any record of statements which do not have landlord specific attachments.
Description of the screen
Refer to the Glossary for information about the Title bar, Menu bar and Navigator bar.
The panel on the left is the Index Panel.
It displays the original file location of the document when it was attached to the landlord and the period number of the statement to which the attachment belongs.
This can be used to move an attachment from one statement period to another.
Navigator Bar - Add, Edit and Delete
When [Add] is pressed a windows dialogue opens allowing you to browse and select the attachment wanted. This is then saved in the database and the Index Panel retains the original location.
Pressing [Edit] allows the File and Browse buttons to select an updated or different document as the attachment.
Pressing [Delete] only deletes the attachment from the database, it does not delete the file from the disk.
An icon representing the attachment type will be present in the panel
Double click the panel to display the attachment
The attachment will only display providing Windows has been set to associate the file type with a program which will be the case for most common files. However, should you use a scanner or camera or other program which uses non-standard file extensions you may need to make that association yourself. Refer to Windows Help.