This creates the payment that pays Bonds paid by tenants, out to Tenancy Bond Services.
If you want to pay by Direct Credit you must enter your Landlord ID Number (Bond Number) first into the System Settings area of Palace. So make sure that is done first.
The second area to check before processing your bond(s) payments would be to make sure there is a bank account name and account number which is located in the Trading Account section.
Please Note: This is only because of Palace Authorities and you may already have one loaded.
Go to Financial > Ledger > (top right-hand corner) Trading Account.
Now you are ready to proceed with making your payments through Palace to go to the Bond Centre by following the below steps:
- Go to Financial - then Transactions
- Under 'Generate Single Transactions' drop down the arrow and select 'Payment - Bond'
- Click on 'Generate'
- A list of bonds will appear on the screen - Check the bonds against the bonds forms that you are holding
- If you do not want to pay a bond that is showing in the list, simply untick that one
- If you do want to pay the Bond but not the payment showing, you can change the amount.
Please Note: You can only change it to a lesser amount, if you change to a higher amount, you will get a warning and it will not let you proceed.
- Once you are happy with the Bonds showing and the total, make sure you have selected "Direct" in payment type under 'Payment Details' unless you are still doing cheque
- Enter in a reference in the 'Ref. No. area. (Cheque number if it is a cheque)
- Click on 'Confirm', you will be taken to the transaction screen.
- Click on Process
- Click on download to Print the Bond Remittance (This is the report you will send with the bond cheque or Direct payment). Print 2 so you have one for your records.
- Then click 'Online File' at the top right-hand side of the screen.
- Generate the online file and upload it to the bank.
- Remember to send the Bond Forms and the Remittance Advice to the Bond Centre so they receive them prior to receiving the payment.
This transaction will show in your 'Unpresented items' area under 'Financial' > 'Reconciliation' waiting to be reconciled once the payment comes out of your bank.