Skip to main content
Payments to Make

A guide on the payments to make step of Accounting.

Elliot Palmer avatar
Written by Elliot Palmer
Updated over 5 months ago

Payments to Make

Now that you've allocated money on the Allocate Funds page, you are ready for the final step in the accounting workflow - making payment and creating payment files to pay owners, contractors, your agency, tenants and deposits.

To get started, head to the Accounting tab on the left and click on the Payments to Make tab.

Owners, Contractors, Agency and Tenants

You will see separate tabs for owners, contractors and agency which will show the list of payments to make, highlighting the owner, property, payment reference and amount. The process here is to work through each tab and process the relevant payments you wish to make.

On each tab, you can click to choose which owners/contractors/agency/tenants will be included in this payment run by ticking the tick box on the left, which account the payment should be made from and the total payment amount, number of payees and number of statements to be sent.

Note - If you see an orange icon next to the Owners name, this indicated that there are Missing Bank Details for the Owner, and they will need to be added on the Owner page in Street for this information to carry through.

When you've selected who you want to pay, select which bank you will be paying from at the bottom left of the page in the 'Payment Settings' section. It's important to ensure this is correct and you're paying from the correct account that you plan to physically make payment from.

Finally, click the Pay button at the bottom right which will show a confirmation page and when you proceed it will create a payment file for all payments selected. Confirming these payments will deduct the monies from the relevant ledgers and the overall balance.

Note - If there is an owner of multiple properties in the payment run, they will receive multiple statements.

When the payment is confirmed, the statement generated during the Allocate Funds stage will automatically be emailed to the recipient and can be found on the relevant ledger (Owner Ledger or Contractor Ledger).

Note - If there are no funds to be paid to the owner, for example all of the rent is being used to pay for maintenance charges, the statement is both generated and sent during the Allocate Funds stage.

Deposits

The deposits tab of payments to make works in the same was as the other tabs however it's important to note that this will be making payment to the scheme that will be holding the deposit, using the bank details you setup in your Accounting Settings > Deposits section.

As before, select which deposits to pay, ensure you're paying from the correct bank and then click Pay.

Payment Files

Now that you have processed the payment in Street, you need to physically make payment from your bank.


Head to the Payment Files tab withing payments to make and you will see a list of payment files that you've created from the previous tabs.

By default, the list will only show payment files that have not yet been exported however you can view the exported files by toggling the 'Show Exported' checkbox at the top left.

Clicking the Show Details button will display a popup of the details for that specific payment. You can hover over the document icon to see if that payment file has been exported or not (the file in green means it's been exported, grey means it's not been exported).

When ready, click the Export button to export each payment file. You will have the option of downloading the payment file as a CSV or, if your bank account supports it you can export as a Bank Export (SIF/Pegasus Opera file format).

Either method will download a file to your computer which can then be uploaded to your bank account, instructing them to make the payments listed.

You've now completed the accounting workflow in Street!

Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!

Did this answer your question?