Middle/end of month landlord payments (APAC only)
This guide has been reviewed against our global client base and classed as relevant to APAC only
This guide outlines how to replicate mid-month and end of month payment processes that have been inherited from your previous system (note that this process requires the statement to only be sent at the end of the month)
The Landlord Payment Run will be processed at mid-month and end of month - this will also pay all agency fees and suppliers where there are funds available and will move to the ABA & Cheque Run - a landlord payment will be created on the landlord ledger
How can I tell if my landlord has been paid through the bank? There are two ways to see details of landlord payments from the landlord record
From landlord transactions:
The Payments screen lists all payments to the landlord:
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Any landlords that wish to only receive their payment at the end of the month will have the payment frequency set accordingly - the money will only be released from the ABA run once the payment frequency is met - otherwise, any landlords processed at mid-month will receive the payment at the same time
The recommended process is to pay landlords on a daily or weekly basis, to ensure fees and suppliers are paid in a timely manner - this process should only be used when it is not possible to change existing business processes
1. Set payment frequency Identify the landlords that only wish to receive one payment at the end of the month From the landlord record:
From the Landlord Financial Details screen:
| Setting to the 28th will ensure that if the last day of the month falls on a weekend, when end of month payments are processed on the Friday - these will be automatically included |
2. Statement settings The statement settings should be set as follows:
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3. Landlord payments The Landlord Payment Run will be processed twice a month
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4. ABA & Cheque Run Any landlords where the payment frequency is set will not be automatically ticked - they will appear in red, and the status will display the date the next payment is due to the landlord
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5. Sending landlord statements It is important to understand that generating any kind of payment to the landlord will trigger a statement to be sent
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