How to Refund a Levy Payment to an Owner in STRATA Master

Overview

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

Refund Details

• 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

Refund Allocation

• 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.