Waiving a Debt Recovery Fee in Strata Master
This article will assist you in waiving or removing a debt recovery fee in Strata Master.
When a fee is waived this does not remove the debt recovery stage record on the Lot Owners Card. To remove from the Lot Owners Card refer this link -
How the Debt recovery fee is waived will depend on -
- how far through the system the fee has progressed.
- whether you are waiving the fee to the Lot Owner , or
- whether you are waiving the fee for the Owners Corporation (Strata Plan) , or
- whether you are waiving the fee for both Lot Owner and Owners Corporation.
Note - If you do not use Strata Master's Management Fee processing functions, these articles may assist, however they may not. Support may not be able to assist.
To Waive a Fee Charged to the Strata Plan and Already Paid to Your Agency
In this circumstance, the fee funds have been processed through Strata master and paid by EFT to your Agencies Business Account -
1. Arrange for the fee to be transferred back to the relevant Strata Plans Trust Account.
2. Receipt the funds when they show on the trust account bank statement as a credit. Use the same account for receipting as used when the fee was charged. If you have a suitable revenue account for refunded charges, then you could use that. Ultimately the choice of account is your decision.
To Waive a Fee Charged but Not Processed or Paid Through Management Fees to Your Agency
To Waive a Fee Charged to a Lot Owner Ledger whether Paid or Not Paid
To Remove the Debt Recovery from a Lot Owners Card
The debt recovery notation on the Lot Owners card will be noted as cleared rather than 'removed' entirely.