Landlord Payments


Location... Landlords main screen > Transactions > Payment button
  • Landlords will mainly be paid in the Generate Payments "bulk" payment run.
  • Use this screen to make a payment outside the scheduled payments run.
  • Normally you should only pay the landlord from this screen.
      4 Do not pay suppliers from this screen.  Pay them using Supplier Payments only after entering an invoice to transfer money from the landlord account to the supplier account.
      4 Reimburse existing tenants for overpaid Rent or Debt from the Tenant Payments screen.
      4 Exception  When reimbursing a tenant for work done on the property make a payment with the tenant as payee.  If the tenant is not receiving the money but is being given "rent relief" make the payment by DC, change the Payee to the tenant, change the bank account code to your trust account number and receive the same amount as Rent in the tenant's account.  This way you won't miss your fees.
  • A warning will occur if you attempt to pay out more than the balance.  Either cancel the transaction, change the value, or accept the over payment.
  • After OKing the payment you can print a remittance advice.

    Skip to the description of the screen elements

    Your landlords will expect to be paid from time to time.  Most commonly "management" landlords are paid once a month, normally as soon after the end of the calendar month as possible and once the final bank statement details for the month have been entered.  However, mid-month payments to some, if not all, landlords are frequently made.  In both these cases use the Generate Payments process.

    From time to time a landlord may want an ad hoc payment, one that doesn't coincide with a payment run.  This will need to be made as a manual payment.  Payments to "casual let" landlord's may not normally fall into the usual payment processing cycle either, although there is no reason for them not to be paid as part of a normal bulk payment run.

    Probably most casual landlords are paid by cheque with a manual payment but if you pay your management landlords (and suppliers) by electronic transfer, (as opposed to manual direct credit), consider paying your casual landlords that way too.

    You may pay any landlord by :-
  • Writing a cheque.  The cheque could be mailed or, using a lodgment form, directly deposited into a landlord's account.
  • By using internet banking software where individual payment amounts are entered one at a time.
  • Electronic transfer by producing a file of payments used as input into an on-line banking service such as ANZ Direct, ASB Fastnet, Direct Link or BNZ Internet Banking for Business.  These business applications, as opposed to the personal one you are used to, normally carry a charge.

    Payment by electronic transfer is the easiest and has least work once it is set up.  Cheques are time-consuming and relatively clumsy. See Cheques vs Direct Credits

    Interim Payments
    If you have the need to pay some landlords on a regular basis more often than others you can assign an "interim list code" to just those landlords.  For example if 20 of your landlords get paid twice a month assign the same "interim list code" to each of them on their Payments Details screen.

    In the Generate Payments run you can select only those specific landlords to have payments generated by choosing that code from the "Interim List" box.

    You can have several interim payment lists, say numbered 1 through 5, and pay landlords on lists 2 and 4 in a single DC batch by running Generate Payments twice, once for each list.  For any second or subsequent run answer "Yes" to the "existing unconfirmed batch" message which will combine the new payments with the existing ones.

    If you are paying all your landlords twice a month leave the Interim box unchecked because you don't need to use it.  Simply do a full run each time you pay your landlords.

    Main "End of Month" payment run
    This run will typically take place a day or two after the end of the calendar month and before end of period processing takes place.

    The last receipt entries from the bank statement or transaction printout will have been entered, supplier invoices entered and any other adjustments made.

    A bank reconciliation should have been carried out before the payments are made using the Admin menu > Generate Payments process.

    Statements should be printed after the payments have been confirmed then it will show the details of the payment made but before running End of Period or any personalised statement message will be lost.

    Description of the Landlord Payment screen

    Refer to the Glossary for information about the screen fields not mentioned below.

    When entering a manual payment the balance in the account as at "today" will be displayed.  Any future dated transactions, shown in red text, will be ignored.
    No adjustment is made for any Hold Amount entered on the Landlord Payment Details screen.
    Any Hold Amount is displayed on red alongside this field.
    You may change the amount to any value which may include amounts on hold or are future dated.  The assumption is that you know what you are doing.

    Payment Method
    You may change the payment method from CHQ to DC and v.v. for this one transaction.
    Refer to the Glossary for more information

    Remittance Advice
    After clicking [OK] you may print a remittance advice if required.  The details on the advice may be changed as required but are not retained in the system.

    Confirm Payment screen
    Just as generated payments must be confirmed in a separate step, so do manually created DC payments.
    If the payment is by cheque and a cheque number was entered on the initial Landlord Payment screen the payment is automatically confirmed.
    If the payment is by DC, following the Remittance Advice screen, a Confirm screen will be displayed and ask if it is:-
      4 to be paid manually through the banking system
      4 to appear on the Enter Bank Statement Details screen as a separate item
      4 NOT to be included in a future Generate Payments run Click "Yes"

    Where the DC payment will be made by logging into your bank account via the internet and an individual payment made which will appear as a discrete item on your bank statement the answer should be "Yes".

    If you intend to make several manual DC payments then assemble them into a direct credit file which results in a single combined amount appearing on the bank statement answer "No".  Refer to the Payments Overview topic section Include Manual Payments for more on this.

    Related Topics
    Payments Overview
    Landlord Payments
    Supplier Payments.
    Tenant Payments.
    Overpaid Rent Reimbursement.
    Payments Common Items
    Emailing Statements