How to Pay Strata Levies from Owner Rental Funds

Overview

You may have a property where you act as the Strata Manager as well as the Managing Agent for and you are required to pay the strata levies due directly from the rental funds.  The payment out and the receipting in will both need to be reflected in REST Professional.

This document will cover:

• How to pay Strata Levies from the Rental Funds
• How to Receipt the Funds to Owners Strata Levy

How to pay the Strata Levies from the Rental Funds

A disbursement will need to be made from the Owners rental property funds for the amount of the strata levies.

1. Go to Transactions > Quick Disbursements
2. Enter the details of the disbursement:

• Property – Enter alpha index of the Owners rental property and press ENTER
• Amount – Enter the amount of the strata levy to be paid, ensuring you  zero the gst
• Cheque Number – Enter the cheque number 999999 (self presenting cheque number)
• Pay to – Enter the name of the Strata Plan
• Description – Enter the Strata levy information
• Account code – Use the strata levy account code

3. Click OK-F12

How to Receipt the Funds to Owners Strata Levy

You most likely will have a tenant card setup for receipting owner strata levies.  You will need to receipt the strata levies for the amount of the disbursement created.

1. Go to Transactions > Rent Receipts or click on the rent receipt icon on the desktop
2. Enter the details of the receipt:

• Tenant - Enter the alpha index of your Strata Owner (setup as a tenant) and press ENTER
• Amount paid – Enter the amount of the strata levy/ies which should be the total of the disbursement you just created

3. ClickOK-F12

    

4. Enter the Payment method as Direct Deposit
5. Click OK-F12