Recording A Standing Order
Update: as of 19/03/21 terminologies for two items in this feature have been changed. This article has been updated to reflect this, but for any users used to the old wording please note that the below has changed for clarification purposes:
'Date of first payment' is now 'Start Date (on or before demand issue date)'.
'Date of last payment' is now 'End Date (date of last payment)'.
No further amendments have been made and the feature still works in the same manner.
Resident allows us to record a standing order on an owners account as a way to manage their arrears.
Please note: This feature can only be used against the most recent debit/demand.
This feature does not create any transactions/payments/invoices. This feature only allows resident to determine whether the owner is in arrears by expecting a certain amount each week/month/quarter/year. If this amount is not met then it will be added to the pro-rata balance on the unit list and the Leaseholder will appear in the arrears list.
We begin by opening the Ownership details. This can be accessed by opening the block and navigating to 'Block' > 'Unit List' and clicking on the person icon next to the Ownership we would like to record a standing order on.
Once opened we navigate to 'Details' on the collapsible menu. On this page we click the 'Add Regular Payment' button to open the options for this feature.
Once open we will need to fill out the following boxes:
Start Date (on or before demand issue date): This is when the invoicing will begin. We MUST set this date to the date of, or before, the demand we wish to allow payments on. PLEASE NOTE that this is retroactive and WILL take into account all payments from this date.
End Date (date of last payment): This is where we can manage when the payments should stop. If this is left blank then this will continue until removed.
Instalment Amount: This is the amount due for each instalment.
Instalment Frequency: This is how often these payments are expected.
Categories: This option allows us to ensure we are managing the correct payments. I.e. we are not taking into account ground rent payments when it is expecting to due service charge demand payments.
Bank Account: Here we select the account we are expecting this money to come into.
The bin icon allows us to remove this standing order record.
Once we have recorded the standing orders we can click 'Update'.
Now that we have told the system that we are expecting a payment of a certain amount on a certain date our pro-rata balance on the unit list will change:
To remove any standing order records please navigate back to the owner details and click the bin icon.