gateway basics - myconsole.com.au · tenant funds against an individual tenant ledger so that i can...

Gateway Basics

A Quick Start Guide for REST Professional Users

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1300 131 311 console.com.au

Similar Concepts & Functions

I Need To… REST

Professional

Console

Gateway How to

Account for tenant payments

e.g. rent, water

usage invoices,

holding deposits

and bond.

Tenant Receipt

Tenant Receipt

3 options: From top Transactions menu >

Receipt > pull through relevant tenant in

the “file” field by typing file reference OR

Tenant Screen > right click Tenant > “New

Receipt for Tenant” OR highlight Tenant

and press F2 on keyboard.

Tip: When filling out the receipt select how

you want to allocate the funds from the

“Transaction” drop down menu (e.g. rent,

invoice, deposit or bond).

Undo an incorrect

transaction.

Reversal

Reversal

Open the relevant file (i.e. the tenant / owner / creditor or sale the transaction is related to) and select the transactions tab.

Locate the transaction to reverse and double click to open > click the reverse button and enter an explanation when prompted for the log and ledger.


Allocate and hold tenant funds against an individual tenant ledger so that I can re-allocate them flexibly later on.

e.g. holding deposits, rent paid past vacate date, bond refunds not yet finalised and overpaid tenant invoices.

Allocate tenant

receipt to

“Tenant Invoice

Credit”

Allocate tenant

receipt to

“Deposit”

When processing a tenant receipt, select the allocation “deposit” from the transaction drop down menu.

Tip: Funds allocated here will be held in trust against the tenant’s ledger, indefinitely until you re-allocate them at a later stage.

I Need To… REST

Professional

Console Gateway How to

Re-allocate funds

previously

receipted/allocated

to “deposit” to rent

or a tenant invoice.

Re-allocate

Tenant Invoice

Credit

Transfer Deposit

Right click the relevant tenant > transfer deposit > select transfer to rent or bond or tenant invoice.

Tip: If transferring funds to pay an invoice, you can elect how much to allocate to a given invoice.

Refund tenant funds which have been allocated to

“deposit”.

Re-allocate

Tenant Invoice

Credit

EFT Payment (to

tenant)

Transactions menu > Payment OR press F3 on your keyboard.

Select payment type “EFT”. Under the transactions drop down menu, select “tenant deposit” to draw funds from that allocation. Under the File drop down, select the relevant tenant file.

Complete the rest of the payment screen as

per usual with details/description, amount

and the tenant’s bank account details.

Tip: Once saved, an aba file is automatically generated for upload to the bank. An EFT statement is also generated for your records.


Enter creditor invoices to be paid during next mid or end of month run.

e.g. Maintenance invoices, strata levies and water rates.

Creditor

Disbursement

Journal Payment

Transactions menu > Payment OR press

F3 on your keyboard

Select payment type “Journal”.

Enter creditor

invoices to be paid

during next mid or

end of month run

where there are

currently

insufficient funds

available in the

landlord’s ledger.

Outstanding

Disbursement

Pending

Payment

If you enter a journal payment where there are insufficient funds, Gateway will automatically offer to convert the payment into a pending payment, to be processed at a later date. The next time you run a disbursement/payment run via the Disbursement Wizard, you will be prompted to process all pending payments

I Need To… REST

Professional


where there are now sufficient funds prior to disbursing.

OR you have the added flexibility of

choosing to create a pending payment

directly: Transactions menu > Payment OR

press F3 on your keyboard. Select payment

type “Pending”.

Reconcile the trust

account

Bank

Reconciliation

Reconciliation

Wizard

Transactions menu > Reconciliation Wizard.

Enter closing balance from bank statement and statement date, then tick off any unpresented items which have now been presented.

Tip: in Console, the unpresented cheques

list only displays actual cheques. Unpresented EFT or BPAY payments are grouped with unpresented adjustments instead (see page 10 for more detail).


Run Mid or End of month OR run any bulk payment run for owners and/or creditors and/or bonds.

Owner

Payments / EOM

Wizard

Disbursement

Wizard

Transactions menu > Disbursement Wizard.

As you run the wizard you are able to create a profile which saves your selections and preferences for next time you do the same type of payment run (e.g.

an “end of month” profile).

Tip: you should always reconcile and back up before running the Disbursement Wizard.

Account for miscellaneous funds such as owner contributions, bounced EFT payments, unknown deposits and insurance payout claims.

Sundry Receipt

Miscellaneous

Receipt

Transactions > Receipt then OR press F2

on your keyboard then ensure “type” is set

to “miscellaneous”.

I Need To… REST

Professional


Reallocate funds from one ledger to another.

Journal

Journal

Transactions Menu > Journal OR press F4 on your keyboard.

You will need to fill out 2 lines:

Line 1: details of ledger you wish to debit

Line 2: details of ledger you wish to credit

E.g. in the case where a landlord has been overcharged $35 in management fees last month, you might enter a journal debiting $35 from the management fee creditor ledger and crediting that $35 to the relevant owner ledger.

Tip: As with REST, Gateway allows journaling from owner to owner or property to property. Additionally, you can journal funds to and from creditors, tenant deposit, tenant bond and more.


Search for a file.

Alpha Index

File Reference

Using the search bar at the top of the screen, you can search by file reference or file name in most screens.

When searching in the tenant screen there is added flexibility (enabled from “advanced options” in the tenant screen) to search by tenant reference/file name as well as by that of the property and owner files or by the banklink number (payment ID) of the tenant.

Tip: File references can also be used to speed up entering of trust transactions such as journal payments, where you need to select a file/ledger to transact against. Rather than searching or selecting from drop down menus, you can simply start typing the reference under “file” to pull through the relevant file quickly.

Categorise income

and expenditure

related to landlords

for financial year

statements.

Assign account

code

Assign

Dissection

There is a standard list of dissections installed with Gateway. To view these select Dissections from the Gateway Bar.

Dissection codes are set up with a

reference starting with either an “I” for

I Need To… REST

Professional


income or “E” for expense to make it easy to select the right code for the job. When setting up creditors, you are able to select a default dissection in their file which will pre-populate whenever you pay that creditor, saving you time.

Find/Print details of agency fees collected.

e.g. Statements,

ledgers, GST

reports

Check Internal

Agency

Accounts

e.g. AALET,

AAMANAG

Check Agency

Creditors

e.g. Management

Fee Creditor, Let

Fee Creditor,

Sundry Fee

Creditor

Right click the creditor and select print > choose ledger, statement or GST report > click customise to select a period.

Also see the Revenue Statistics Graph and Report (from Reports > Statistics) to view more monthly stats on fees collected.


View summary of important ledger details.

View Tenant

Status Screen or

Owner Enquiry

View File

Balances

Right click file > Balances

Tip: You can view a balance summary for all file types where there is a ledger (tenant, owner, creditor or sale files).

Print a tenant

ledger.

Print Ledger

Print Ledger (simple accounting ledger) or Print History (ledger

PLUS file history)

Right click the relevant tenant file > Print OR click the printer icon from inside the tenant file.

Click customise to specify which period to

view. If you are generating the History

report, you can also click “include” to select

to display the user for each entry, log

entries and actions (see page 7 for more detail).

Ok > Ok

Tenant Ledgers

The Gateway Tenant Ledger

A clean and simple to read account of tenant monies that have come though the trust

account. It shows all debits and credits related to the tenant, the transaction date,

description/paid to dates and a running total. It is ideal for use when tenants request a copy

of their ledger or when clarifying trust accounting issues as it is uncluttered by other tenant

historical information such as file notes and communications.

The Gateway Tenant History Report

Provides more in depth tenancy information than the ledger. For REST Professional users,

this will be more similar to what they are used to generating as a “tenant ledger”.

This report combines the ledger transactions PLUS tenant history such as file notes,

communications, tasks, maintenance, documents, inspections and log entries (which log

important changes made to the file). It also clearly spells out the number of days and

amount of arrears at any given time. This makes the Tenant History ideal when preparing

documents for tribunal or when giving a tenant reference.


How to Read the Tenant Ledger


How to Read the Tenant History Report


Bank Reconciliation

Understanding the Bank Reconciliation Reports

Both Gateway and REST create a three-way reconciliation report, comparing the total clear

funds in trust against the total cash book balance from the system and the total trial/ledger

balance from the system. If all three totals match, the bank account is balanced.

A Few Key Differences When Reading

There are a few slight differences in layout and breakdowns, mainly in the calculation of the

total cleared funds in trust, although both reports come to the same total in the end.

• Unpresented Cheques

In REST: The unpresented cheque total shown is the total of all unpresented cheques

AND all unpresented EFT & BPAY payments.

In Gateway: The unpresented cheque total shown is the total of all unpresented

cheques ONLY. The unpresented EFT and BPAY payments appear as part of the

“adjustment” total instead.

The net effect is the same, i.e. both a cheque and a negative adjustment reduce the

available/clear total of funds - they are simply grouped a bit differently on the two

reports.

• Deposits Banked – Not Posted

In REST: This is a separate breakdown of adjustments created by the user related to

deposits banked in trust, but not posted/receipted yet.

In Gateway: these would be entered and shown as part of the adjustments total.


How to Read the REST Reconciliation


How to Read the Gateway Reconciliation

gateway basics - myconsole.com.au · tenant funds against an individual tenant ledger so that i can...

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