How to Process a One Off Owner Payment in Rest Professional

Overview

There may be times during the month other than end of month or mid-month when you are required to pay out an owner their rental funds. 

This document will cover:

• How to Process a One Off Owner Automatic Deposit (EFT) Payment
• How to Process a One Off Owner Cheque

NOTE:  This document does not cover paying out split owners or doing a one off owner payment in a clearing statements database.  Please see documents "How to Payout and Reverse Split Owner Payments in REST Professional" or "How to Process a One Off Owner Payment – Clearing Statements"

All available funds for the owner will be paid out, if a flat amount is required to be paid out, go to Files > Owner > Payment and enter the flat amount and click OK-F12 prior to payout.  Remember to remove this flat amount after payment has been made.

How to Process a One off Owner Automatic Deposit (EFT) Payment

This function is used to produce payments for those owners whose payment method is Auto Deposit (EFT) by selecting one or more owners manually.

NOTE: This process will not generate an owner statement for this payment, and will not create postage, and sundry charges.

1. Go to Reports > Owner > Automatic Deposit (EFT) Payment
2. Choose the owner/s to be paid by clicking on the Select button. Search for the owner/s from the list and either double-click on their name or highlight their name and choose Select (make sure their name drops down into the Selected Items box), then click on OK - F12 to continue.
3. Click Process to continue with the owner payment

4. Rest will then advise how many owner payments have been created.Select Yes to create the final EFT file for upload to the bank
5. Click Print-F12 to create the ABA file

NOTE: It is strongly recommended to verify the accuracy of the disbursements on the EFT Payments List before uploading the ABA File to the bank. After checking, we recommend that this file be immediately imported into your banking software.

How to Process a One off Owner Payment by Cheque

This function is used to produce payments for those owners whose payment method is Cheque.

NOTE: This process will not generate an owner statement for this payment, but will create postage and   sundry charges for the owners selected

1. Go to Reports > Owner > Cheques, Fees, Split Payments
2. Choose the owner/s to be paid by clicking on the Select button. Search for the owner/s from the list and click Select, then click OK-F12 to continue
3. Click Process-F12 to continue with the owner payment and Print.  Postage and Sundries will  be charged to the selected owner/s.  See Split Owners doc

4. Insert your cheque stationery in the printer.Do you want to print an alignment cheque? Select NO
5. Make sure the correct cheque number is showing in the Start at Cheque Number, then click OK

6. Handwrite your cheque to match the cheque number in Rest if you do not use cheque stationery

NOTE: It is important that you complete the cheque printing step so that the cheque prints out through Rest even if you hand write your cheques. If you cancel out of the step Rest will not record the cheque payment.