Creating and Managing Payment Groups
A payment group is a way of creating separate statements for each Property that the Landlord owns, and it keeps all income and expenditure separate for each Property.
The payment groups should be set up BEFORE any income is posted on the system if you wish to keep the transactions separate.
Payment groups are useful for the following reasons:
- If the Landlord wishes to have separate statements per property.
- If a landlord has old properties, that the agent no longer manages for them, an old properties payment group needs setting up and the properties moved into this group.
- if there are landlords in the system multiple times, with properties attached to them, then a main Landlord record is created and the properties moved over to the one Landlord record.
Initially all properties will be assigned to the default payment group, it is important to set up the new payment groups and move the properties into the correct group before any accounts are entered.
To Create A Payment Group
1. Go to the Landlord record, click on the Contact tab on the left, then the Payment Groups tab along the top of the screen. If the Landlord already has multiple properties on the system they will all show as being in the Default Payment Group.
2. To create a new Payment Group click the button at the top right that says Create Payment Group, which will open the Configure Payment Group screen. The Group Name relates to the name of your payment group, it is a good idea to call it the same name as the Property that the Payment Group relates to, to keep things simple. Other settings you may need to input are:
- Select the Payment Method.
- Confirm the Bank Account to be used for Payments To
- Select a Default Statement Remark
- Confirm the Next Statement Number
- Confirm if you want to Attach Supplier Invoices to the Landlord statement
If the Landlord will be paid via BACS ensure that this Payment Method is selected on the screen and that you select the relevant bank account in the Payment To drop down box. Once this has been completed then click Save.
To Move Properties Between Payment Groups
3. To view Properties in a Payment Group click the downward arrow against the line to view them. When you can see the Property you wish to move, click the Move button on the right and then click Select on the Property Group you are moving it to.
Click the Move button at the bottom of the screen.
4. If you wish to edit the information for any property group click the grey cog button on the right or the payment group section, doing this will allow you to rename the groups if required or edit any other details.
5. When you are ready to start Paying your Landlord, ensure you select the relevant Payment Group from the drop down box at the top right of the payment screen, as only items relating to the selected payment group will appear.