Middle/end of month landlord payments (APAC only)

Owned by Fiona Hardy
Last updated: Mar 01, 2023
4 min read

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 the landlord record:

  • Right-click Transactions and select View payments
    This will list all landlord payments

From landlord transactions:

  • Locate the payment, right-click and select Show payment details
    This will highlight a specific payment when the screen is opened

The Payments screen lists all payments to the landlord:

  • if there is a red cross, the payment has not yet been processed through the bank

  • if there is a green tick, the payment has been processed and the payment method and date is displayed

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:

  • In the Financial panel, click edit (pencil) icon

From the Landlord Financial Details screen:

  • In the Accounts Details panel, click the link beside Payment frequency

  • Set to Every 1 Months and set the Starting date to the 28th of the current month

 

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:

  • Statement Frequency set to After Payment

  • Send when net payment is zero, ensure this box is unticked

 

3. Landlord payments

The Landlord Payment Run will be processed twice a month

  • Any landlords that are set to receive payment at the end of the month will be included in this process

  • Ensuring these landlords are included in the landlord payment run allows for any fees or suppliers to be paid from available funds

 

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

  • When this date is met, the funds will automatically be ticked and included in the ABA & Cheque Run

 

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

  • Prepare Landlord Statements should only be run after the end of month payments have been processed

    This will avoid a landlord receiving a statement without a payment

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