Direct Debits - Setting up

One of the rent payment methods available to tenants is the ability to do a direct debit. This is where your company send up to the bank for the tenant money and then pull it back down.

You will need the tenants written permission for this.

Important Note: Palace picks up the weekly rent amount (or fortnight, monthly etc) and sends up the file. It does not look for a rent increase that is happening in the middle of a rent period. Palace also does not work out the amount to vacate and take only that.

Setting up the Tenant for Direct Debit for Rent

You can do two types of Direct Debits, one for rent and others and one just for Tracked Invoices. There are a few things to set up in Palace first. The instructions for Tracked Invoices are below, but first is rent

  • Payment Type
  • Payment Details
  • Bank Account

Setting up the System Bank Account

  • Go to System – System Bank Account
  • AUS: Type into the DD Bank/APCA field the same information that it is in the Bank/APCA Code (Australia)
  • NZ Type in to the DD Registration ID, the Bank account number.
    Direct_Debit.PNG
  • Then click Save and Close

Setting up the tenant

  • Edit the tenant
  • Click on the drop down arrow next to the Payment Type - Select Direct Debit
  • Now click on Payment Details - Fill in the amount, the days frequency and you must put a date that the direct debit is due
    Direct_debit_2.PNG
  • Fill in any other field that you may need. ie Invoices (not for the tracked ones)
  • Save, then
  • Click on Bank accounts ... Enter in the tenant bank account details
  • Click Save and then Save the tenant record.

Note: You can also send up a DD file for just tracked Invoices. You do not need to set up anything extra for this, this will just look for the Invoices that are Overdue and bring down the amount accordingly. Tick the box in Bank Accounts that says Invoices.

 

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