Condo Manager comes with a complete fully accrual accounting system built in, so there’s no need to use a separate program to handle your accounts receivable. With a variety of different options, Condo Manager takes the difficulty and headache out of payment processing. Multiple payment options allow homeowners to choose how they would like to pay, and each option is then simple to input into Condo Manager.
Lockbox payment processing offers a convenient way to streamline your accounts receivable process. If your company or association uses lockbox services through your bank, Condo Manager can help you automate your accounting process. We will work with any bank of your choice to ensure the lockbox posting file they provide meets the appropriate importing specifications so processing is quick and painless.
ACH and Checks
Many homeowners prefer to pay their dues and other fees directly from their bank account, whether it is by ACH draft or a physical check. Once each homeowner’s bank information is linked to their account, processing ACH draft is as simple as a few clicks. Process the transaction and Condo Manager automaticallys create an upload file for your bank to draft the payments.
Condo Manager allows you to process one check or a hundred with a compatible MICR scanner. If you have an electronic check scanner with your bank, you can also process as usual then request a scan file from your bank to import into Condo Manager.
Online Payments with REVO Property Pay
Condo Manager has partnered with Revo Property Pay to accept and process online credit card payments through the Condo Manager web portal. Homeowners can make their payment, then Revo will deposit the funds directly into the association’s bank account and payment information will download directly into Condo Manager. There is no need to process the payments at all, whether in the owner’s receivable account in Condo Manager or manually depositing the funds with your bank. More details about online payment here.
You can also use a different online payment provider, but before selecting one please be sure they will be able to provide an import file to Condo Manager specifications so data can be properly downloaded into your software.