What is a wallet

A wallet is a great feature enabling you to receive multiple payments and accumulate funds received from the Tenant or Landlord until you wish to make payments from the funds.  Funds will remain in the wallet until such time as payments are made from the wallet.

How are Wallets utilized in the process?

Step 1: Receiving funds

All funds are received into your Trust account and then reflected on your Banking dashboard. From the Banking dashboard you need to map the funds received to the wallet of the Tenant/Landlord who made the payment, for example if a Tenant paid their rent, you would map the funds to the Tenant wallet.

Each tenant and landlord has their own wallet with a unique reference, and IF you are using Asset Groups with Basic or Full Accounting, you will have an Asset Group wallet as well.

To read more on how to place funds into a wallet, you can read the following article: The Banking Screen - Step 1 in Payment Processing.

Step 2: Payments

Once you have funds in a wallet, you will be able to create payment instructions for the various payments to be made from the wallet.

Once these payment instructions have been submitted, they will be displayed on the Payment Approvals dashboard, and once Approved, these payments will be processed for payment. 

Where to view all wallets containing funds?

The Payment Allocations dashboard will by default show you a list of all Tenant wallets with funds. You can also use the filters to search and view specific wallets.

You can also access a specific wallet directly via the Accounts dashboard for that Asset by clicking on the wallet icon in the top-right block in the account: