How to Refund a Levy Payment to an Owner in STRATA Master
STRATA Master can create a levy refund by cheque or EFT. This is used when there is to be a physical transfer of cash back to a lot owner. As a rule, STRATA Master will only allow a refund to be processed where a lot has a pre-paid/unallocated balance.
If the lot does not have a prepaid or unallocated balance, refer to article How to Refund Levy When the Lot is not Prepaid in STRATA Master
Go to Accounting > Adjustments > Refund Levy
- Lot / Plan - Select the Lot and Plan number
- Payment Type - Select the payment type. NOTE: STRATA Master will default to Direct Entry, change to Cheque if required
- Refund To - Confirm/update the 'Refund to' details section
- Total Amount - Enter the amount you wish to refund in the field 'Total Amount'
NOTE: This does not need to the balance of pre-paid/unallocated - a part can be issued
- Description - Add to or change as required
- Using the grid at the bottom of the screen, select the fee(s) paid to be included in the refund.
NOTE: If no line items appear, there is neither a prepaid balance nor unallocated monies on this lot
- Click on Process > Print (F7) You have now saved the levy refund and the system will print/email a cheque/remittance
- If paying via Direct Entry the payment will be included in the next Direct Entry Payments run.