Cancelling & Refunding Fees

Summary

Learn how to cancel and refund fees charged to the tenancy, property or ownership.

Covered in this article: 

• Cancelling Event Driven Fees
• Cancelling Fees charged to the Ownership or Property
• Refunding Fees charged to the Ownership or Property
• Cancelling or Refunding Fees charged to the Tenancy
• Manually refunding a fee to the Ownership or Property without cancelling fees
• Agency Funds

Auto Cancellation of Event Driven Fees

Event Driven fees are automatically cancelled when the event that charged the fee is cancelled.

Cancelling Fees charged to the Ownership or Property

• Ownership / Property Profile > Financials > View Fees > All > Search 

or

• Accounting > Fees > Find Fee
• Find the Fee you wish to cancel
• Click on the red x next to the fee to cancel the fee
• If a fee has been part paid you have the option to only cancel the outstanding amount of the fee
• Select the reason for cancelling the fee from the drop down list

Things to note: 

• If there is sufficient funds in the Pay Agency it will automatically transfer back to the ownership, alternatively the fee will show as owing to the ownership until funds are available in Pay Agency
• When the Unpaid Portion of a fee is cancelled, the paid portion is treated as a paid fee and the unpaid portion is treated as an unpaid cancelled fee. The fee is removed from the outstanding fees pane in the appropriate profile.

NOTE: If an event driven fee has charged incorrectly and you cancel the fee you will have to add a manual fee to the property to charge the fee again at the correct amount. The Fee can't be edited and won't auto charge after the even has occurred.

Refunding Fees charged to the Ownership or Property

Once a fee has been cancelled Property Tree will show the refunded amount as part of the Ownership Balance under the Financial tab. If the Pay Agency does not have enough funds to refund the fee it will be displayed as owing to the Ownership.

Refunding of Fees are processed with the event 'Pay Ownership' permitting the Agency has funds sitting in Pay Agency. 

If you process refunds with your periodical Owner Payments (Mid Month or End of Month) the fee will refund as funds are moved across to Pay Agency.

TIP: Before Paying the Agency review the Ownership Funds Report to ensure the refund was processed. If a pending refund is still displayed on the Ownership you will need to process another 'Pay Ownership' and select 'Payments Only' to process the refund, once completed you can Pay Agency as normal

If a refund has been cancel in error you will need to do a manual refund of the fee. The information on how to manually refund a fee can be found further down in this article.

Cancelling or Refunding Fees charged to the Tenancy

Cancelling Tenancy Fees

• Tenant Profile > Financials Tab > Fees > View Fees > All
• Click on the red X to cancel the relevant fee
• Select the reason for cancelling the fee from the drop down menu

NOTE: Paid Tenancy Fees can't be cancelled and needs to be refunded

Refunding Tenancy Fees

• Tenancy Profile > Actions > Create Refund
• Select 'Fee' as the refund type from the drop down list to 
• Select Tenancy Fee +
• Enter fee number or click on search to view a list of Tenancy fees
• Enter the amount you wish to enter in the box
• Select either EFT, Cheque or Hold for Tenancy from the 'Refund Method' drop down list
• Complete the relevant details 
• Create refund

NOTE: The Agency must have funds in Pay Agency in order to refund fees

Manually refunding a fee to the Ownership or Property without cancelling fees

If you do not wish to cancel and refund a fee you have the option to refund the money by creating a Property Receipt.

Transfer Funds from General Account to Trust Account

• Property Profile > Actions > Create Receipt

or 

• Accounting > Create Receipt 
• Receipt Type: Property
• Date received on: Enter or select the date that the funds were received in your Trust Account, as displayed on your bank statement. 
• Amount received: Enter the amount received as displayed on your bank statement. 
• Received from: Enter your Agency Name in this field
• Payment method: Direct Deposit
• Account: Select the account relevant to the fee you are refunding ie. if you cancelled a letting fee select the account 'Letting Fee'
• 'Includes GST' tick box: When receipting agency funds ensure the correct GST component is entered.
• Reference: Enter reference information if applicable 
• Description: Enter a meaningful description indicating why the funds are receipt eg. Refund of incorrectly charged fee #1352

Agency Funds

If the Agency does not have sufficient funds to refund a fee and you wish to process a refund before processing Ownership Payments you can transfer funds from your General Account to the Trust Account and then follow the below steps: 

• Accounting > Create Receipt
• Receipt Type: Agency 
• Date received on: Enter or select the date that the funds were received in your Trust Account, as displayed on your bank statement. 
• Amount received: Enter the amount received as displayed on your bank statement. 
• Received from: General Account
• Payment method: Direct Deposit
• Account: Select the account relevant to the fee you will be refunding ie. if you cancelled a letting fee select the account 'Letting Fee'
• 'Includes GST' tick box: When receipting agency funds ensure the correct GST component is entered.
• Reference: Enter reference information if applicable 
• Description: Enter a meaningful description indicating why the funds were deposited into the Trust Account.

Still need assistance?

Click on the Need Help icon to the right hand side of your Property Tree screen and select Need Further Support to contact our Support Team.