At times, you may need to collect funds from your owner accounts:
- To charge the owner account for your services
- To collect payments on behalf of suppliers, like maintenance expenses or service charges
When collecting from Landlord, Leaseholder, or Supplier accounts, you can create collections to debit their balances and either credit your Platform account or transfer funds to another owner account.
Creating a collection
To create a collection, follow these steps:
- Navigate to the owner account you want to create a collection for
- Under the Balance section, click on the overflow menu (•••) and select Create collection
- Fill out the required fields including amount, description, and tax percent
- You can specify a destination for the collection, this will create an owner payment to transfer the funds from one owner to another
- You have the option to toggle Collect now. Toggling this on will immediately apply the collection to the balance, regardless of whether the owner has available funds to cover it. Alternatively, you can toggle it off and the collection will remain in a pending state until you approve it.
Platform fees
You can earn commision on the payments you collect from owner accounts by setting the platform fee percentage. The owner will see the full amount in their account and then the payment will be split between the destination and platform account.
Cancelling collections
Cancelling a collection removes the balance transaction from the owner’s balance. You can do this by navigating to the collection you wish to cancel and clicking Cancel in the top right. You can only cancel a collection when it is either in a pending or applied state.
Refunding collections
You can refund a collection after it has been applied or paid. You can do this by navigating to the collection you wish to refund and clicking Refund in the top right. You can then specify the amount to refund and add a description about the details of the refund.
Refunding a collection that was created with a destination owner account will also refund the destination owner payment that credited the destination owner balance.