Auto Payments is a great way for residents to set up their payment preference once and have VTS Activate for Multifamily manage their monthly payments. This prevents the resident from missing a payment and ensures the property will collect funds on time.
In this article, you will learn the following:
Viewing Auto Payments
Step 1
After logging into the Admin Portal, select Advanced from the left navigation, and select Ledger under Financials.
Step 2
Once in the Ledger, select, Auto Payments from the top navigation.
Amount: Maximum amount that Auto Pay will allow. If the ledger balance is less than or equal to the amount, the payment will successfully go through. If the balance is higher than the amount, the amount will go thru and the remaining balance will need to be paid with manual payment.
Status: Status options are Inactive and Active, depending on if the Auto Payment should be in effect.
Created At: Date the auto payment was set up. If the created date is the same as the execution date, it won't send until next month, and a manual payment will be required.
Payments Via: Bank Account or Debit/Credit Card.
Execution Date: Calendar date of the month that rent will be pulled via Auto Payments (ie 1 is 1st of the month, 3 is the third day of the month). This is the date the payment is initiated, it may not send depending on circumstances, ie no amount due, if the amount due has not synced from accounting integration.Ensure the Execution Date is after the date charges are being sent.
Last Execution Date: Last time the Auto Payment was pulled.
Last Failure Reason: Reason why the last failed Auto Payment occurred. Example: "There is no amount due for user."
Step 3
To view a specific resident's Auto Payment history, select the 3 horizontal dots next to their name, then select Details.
Step 4
From here you are able to further view information about their Auto Payment account.
Step 5
If there is an issue with Auto Payment, look at the Activity Log.
Step 6
After this, select Transactions under the ledger for more details.
If auto payment does not submit at the execution date, the resident will need to submit a manual payment for the ledger amount due. Auto payment can not be resubmitted after it fails to execute.
Disable / Enable Auto Payments
If a payment method is linked to an active auto payment, you will need to first disable or delete the auto payment record before the payment method can be deleted. From there, the resident can delete or edit their payment methods from their account.
Step 1
Select Advanced from the left navigation. Then select Ledger under Financials.
Step 2
Once in the ledger, select, Auto Payments from the top navigation.
Step 3
To enable, disable or delete a specific resident's Auto Payment, select the 3 horizontal dots next to the resident's name. In the drop-down, you are able to Enable Disable, as well as Delete the auto payment.
Enable: Enabling sets the Auto Payment to Active. Enabling an Auto Payment is an option when the Auto Payment is disabled or set as Inactive.
Disable: Disabling an Auto Payment will render it Inactive but the record will still exist in the platform.
Delete: Deleting an Auto Payment will stop the Auto Payment and remove mention of it from the platform.