Before your organization can accept electronic payments (ACH, credit card, and debit card), you must first set up payment processing. During the setup process, you specify for each bank account the types of payments your organization accepts and whether your organization or your customers pay processing fees. After you complete the setup process, your organization can manage bank accounts on the Payment Processing Dashboard and can take electronic payments in Kube, the Member Portal, and the Prospect Portal. For more information, see Payment Processing Dashboard screen overview.
This article is part of the Kube accounting setup flow. For more information, see Kube setup checklist.
NOTES:
Only the operator’s single point of contact (SPOC) can complete the payment processing setup. You can review your organization’s SPOC by navigating to the Operator Details screen: Personal Profile > System Settings > Operator Profile > Operator Details. Kube shows the SPOC’s email in the Email field. Contact Yardi technical support if you need to change your organization's SPOC.
If you use International Tax and need to set up direct deposit, contact Yardi technical support to complete the setup process.
Payment processing flow
Credit and debit card payments
When Kube takes credit and debit card payments, it charges the customer's card directly. When you enable credit card payments on the Payment Processing Dashboard screen, Kube also enables debit card payments. There is no separate setup process for debit cards.
ACH payments
When Kube takes an ACH payment, it directly debits the customer's bank account. To set up ACH payments, you must complete a penny test, which is an additional verification step beyond the steps required to set up credit and debit payments. A penny test is a small deposit into your organization's bank account that tests the ACH connection between the Yardi payment processor and your organization's bank account. To verify that the ACH deposit was successful, you must enter the penny test deposit amount on the Payment Processing Dashboard screen for the Yardi payment processing team to review.
Payment processing setup flow
Payment processing setup involves four main steps (each step contains sub-steps that are explained in detail in the To set up payment processing section of this article):
Add bank accounts into Kube: For more information, see Adding a property bank account.
NOTES:
Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
You cannot set up payment processing until you have added bank accounts in Kube. Ensure all bank account information is correct before you continue with payment processing setup.
Complete the Know Your Client (KYC) form: This form gives the Yardi payment processing team all the information they need to complete their initial portion of payment processing setup. See the KYC Screen Reference section of this article for an example of the information required to complete the fields.
NOTES:
After you click Submit, Kube sends the form to the Yardi payment processing team for review, which can take several business days. Kube displays a notification in the top menu to alert you of setup updates.
After the Yardi processing team approves the KYC form, the Setup Online Payments button changes to Manage Online Payments and opens the Payment Processing Dashboard screen. For more information, see Payment Processing Dashboard screen overview.
Enter bank accounts on the Payment Processing Dashboard screen: As you enter bank accounts, you complete the configuration for each account that determines the types of payments the account accepts and who pays processing fees.
NOTES:
After you click submit, the Yardi payment processing team verifies and processes your bank account information, which can take up to 7 business days. During this time, the In Progress tile on the Payment Processing Dashboard screen shows the number of accounts in the process of being verified.
The SPOC receives a confirmation email for every account added. Kube also displays a notification in the top menu to alert you when verification is complete. If the Yardi payment processing team needs more information to complete the verification process, the notification prompts you to contact them.
For accounts that only accept credit card payments, this is the final verification step, and the Payment Processing Dashboard shows Verified next to each completed account. For accounts that accept ACH payments, the Verify Accounts tile on the Payment Processing Dashboard screen updates to display the number of accounts ready for penny test verification.
Complete penny tests for accounts that accept ACH payments: Kube deposits a small amount into each bank account that accepts ACH payments. Once each account receives the deposit, you can enter the amounts on the Verify Accounts screen to complete the setup process.
NOTES:
After you enter the penny test information, the In Progress tile on the Payment Processing Dashboard screen updates to show the number of bank accounts that are in the process of being verified.
Once the Yardi payment processing team verifies the penny test information you entered, Kube displays a notification in the top menu to alert you that verification is complete, and the Payment Processing Dashboard shows Verified next to each verified bank account. Kube also displays check marks next to each enabled payment type on the Payment Processing screen.
To set up payment processing
Add bank accounts in Kube. For more information, see Adding a property bank account.
NOTE: You cannot proceed to Step 2 until you complete this step.
Complete the Know Your Client (KYC) form:
Select your Personal Profile in the top menu and select System Settings from the drop-down menu. The Operator Profile screen appears.
Select Accounting in the side menu and click the Payment Processing tab.
Click the Setup Online Payments button. The Yardi Know Your Client (KYC) Information screen appears in a new tab.
Complete the fields and click Submit. For an example of this screen, see the KYC Screen Reference at the end of this article.
NOTE: You cannot proceed to Step 3 until the Yardi payment processing team completes their setup process. If you return to this screen before processing is complete, Kube shows a screen stating that verification is in progress. Kube displays a notification in the top menu when the Yardi payment processing team completes their setup and you can proceed.
Enter bank accounts on the Payment Processing Dashboard screen:
Select your Personal Profile in the top menu and select System Settings from the drop-down menu. The Operator Profile screen appears.
Select Accounting in the side menu and click the Payment Processing tab.
Click the Manage Online Payments button.
Select Add Bank Accounts in the top menu.
Complete the fields and click Submit. For field explanations, see the Add New Bank Account Screen Reference at the end of this article. Repeat Steps 4-5 for each bank account you want to enable electronic payments for.
NOTES:
If you only enable credit card payments, setup is complete when the Yardi payment processing team finishes their verification process. Kube displays a notification in the top menu when the Yardi payment processing team completes their setup.
If you enable ACH payments, you must complete penny test verification listed in Step 4. You cannot proceed to Step 4 until the Yardi payment processing team verifies your accounts and you see a small deposit in your bank account from the Yardi payment processor. Kube displays a notification in the top menu when the Yardi payment processing team completes their setup and you can proceed.
Complete penny tests for accounts that accept ACH payments:
Select your Personal Profile in the top menu and select System Settings from the drop-down menu. The Operator Profile screen appears.
Select Accounting in the side menu and click the Payment Processing tab.
Click the Manage Online Payments button. The Payment Processing Dashboard screen appears in a new tab.
Click the Verify Accounts tile.
Enter the penny test amount for each bank account and click Submit.
NOTE: After the Yardi payment processing team verifies the penny test amounts, Kube displays a notification in the top menu, and the Payment Processing Dashboard shows Verified next to each account that has completed setup.
TIP: Payment processing setup is the last step in setting up Kube accounting settings. For more information, see Kube setup checklist.
KYC Screen Reference
NOTE: If you have questions about the fields on this screen, contact the KYC team (their contact information is listed at the top of the KYC screen in your portal).
Add New Bank Account Screen Reference
Payments from Tenants | Select the types of payments you want to enable for this bank account.
NOTE: If you select credit card, debit card payments are also enabled. |
Bank Nickname | Select the bank account from the drop-down list.
NOTE: The bank accounts in the drop-down list correspond to the bank accounts added in Kube. |
RTN | Enter the account's routing number. |
Account Number | Enter the account number you entered in Kube when you added the bank account. |
Name on File with Bank | Enter the account title on file with your bank. You can find this information on your bank statement or by contacting your bank.
CAUTION: This field must match the name on file with your bank. |
ACH Details - Account Type | Select the bank account type from the drop-down list. |
ACH Details - Email for NSF Alerts | Enter an email address that Kube delivers NSF alerts to.
NOTE: Kube sends alert emails when a payment cannot be completed due to non-sufficient funds (NSF). |
ACH Details - Bill Service Fees To | Select who pays ACH service fees. Every time a customer pays using ACH, either your organization or the customer pays a processing fee for the transaction.
TIP: Select Tenants if your organization passes fees to your customers. Tenants is selected by default. |
ACH Details - Service Fee Amount | Kube pre-populates the ACH service fee amount included in your Yardi contract.
NOTE: This amount is paid either by your organization or by your customers every time a customer makes an ACH payment. You select who pays the fees in the ACH Details - Bill Service Fees To field. |
Credit Card Details - Property/Support Phone | Enter the phone number your customers can use to contact your organization for credit card support.
NOTE: This information shows on customer payment screens. |
Property/Support Email | Enter the email address your customers can use to contact your organization for credit card support.
NOTE: This information shows on customer payment screens. |