Companies can pay invoiced charges using ACH, cash, check, credit, or debit payment methods. If a company does not have any invoiced charges to be paid and they make a payment (or if they overpay the amount they owe), Kube enters the amount as a prepayment. Prepayments can be applied to future payments to reduce the amount of a future outstanding balance. For more information, see Applying a prepayment and Applying a credit.
When you add a prepayment, you must specify the property that the prepayment can be used at. This property cannot be changed after saving the prepayment, and the prepayment can only be used at the selected property by the company making the payment.
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.
If your country does not support payment processing or the service has not been enabled, you cannot add an ACH, credit card, or debit card prepayment. For more information, see Payment processing off overview.
You cannot use a prepayment at a different property than the one it was made at.
Kube treats prepayments as liabilities because they must be repaid to the customer at a later date (in the form of a future payment reduction). You can view the liabilities on file for your companies using the Liability Reports. For more information, see Liability Reports overview.
To add a prepayment
Select Receivables in the top menu and select Payments in the drop-down menu.
Click the Add button.
Enter the company making the payment. If no payment is due, the New Payment screen becomes the Prepayment screen.
NOTE: If any payment is due, the New Payment screen remains, and unpaid invoices populate towards the bottom of the screen. You can still add a prepayment by overpaying the charges (or by not paying any charges) when you add the payment. This article explains the process for adding a prepayment when no payment is due. For more information, see Adding a cash or check payment.
Complete the fields. For field descriptions, see the Prepayment Screen Reference at the end of this article.
If you used cash or check, click Save. Kube completes the payment, and you do not need to complete the steps below. If you used ACH, credit, or debit, click the Next button and complete the steps below.
NOTE: If your country does not support payment processing, you cannot add an ACH, credit card, or debit card prepayment. Use cash or check instead.
Select the ACH account, credit card, or debit card you want to use, depending on the payment selection you made on the previous screen.
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If there are no methods of payment on file, click the Add button to add one.
If there are service fees applied to the payment, they appear below the Amount to be Paid field towards the top right of the grid. Service fees are charged by the payment agent and cover bank fees, Yardi fees, and processing fees. When setting up payment processing, you decide whether your organization pays these fees or your customer does. Service fees are non-refundable once the payment finishes processing.
Click the Pay Now button to finalize the payment.
NOTE: Kube labels ACH transactions as Processing, and credit card and debit card payments as Authorized while they process. Once processing is complete, Kube labels ACH transactions as Deposited, and credit card and debit card transactions as Settled. Kube shows ACH, credit, and debit payments in the company's ledger as pending until payment processing is complete.
Prepayment Screen Reference
Company | Company making the payment.
TIP: Click the Reselect button to choose a different company. Kube does not save any information you entered on the New Payment screen when you reselect the company. |
Property | Property at which the prepayment can be applied.
CAUTION: The prepayment amount can only be applied to charges incurred at the selected property. The property cannot be changed after saving. You cannot use a prepayment at a different property other than the one where it was made. |
Payment Reference | Optional field used to add a payment reference number for your records.
NOTE: Information that you enter in the Payment Reference field shows on the Payments screen in the Payment Reference column. For ACH, credit, and debit payments, Kube hides the Payment Reference field because it automatically generates the payment reference number. |
Total Amount and Type | Total amount being paid and type of payment being made (ACH, cash, check, credit, or debit).
NOTE: Before you can process a credit, debit, or ACH payment, you need to set up payment processing. If your country does not support payment processing, you cannot add an ACH, credit card, or debit card prepayment. Use cash or check instead. For more information, see Payment processing off overview. |
Display Type | If you use intercompany billing, select whether intercompany billing is enabled for this transaction. Select the Standard Receipt or Kube Receipt option to disable intercompany billing.
NOTE: Kube populates this field with the default display type selected when setting up intercompany billing, but you can override the default setting for this transaction. For more information, see Turning on intercompany billing.
This field does not appear if you do not use intercompany billing or if you select ACH, credit card, or debit card in the Payment Type field. |
Funding Entity | If you enable intercompany billing in the Display Type field, select the funding entity used for this transaction.
NOTE: Kube populates this field with the default funding entity selected when setting up intercompany billing, but you can override the default setting for this transaction. For more information, see Turning on intercompany billing.
This field does not appear if you do not use intercompany billing, if you select the Standard Receipt or Kube Receipt option in the Display Type field, or if you select ACH, credit card, or debit card in the Payment Type field. |
Auto Apply Prepayment | Set this option to automatically apply any available prepays to invoices with an amount due.
NOTE: If this option has been set, the prepayment will only apply to invoices matching the property the prepayment was made for.
This option does not appear if this feature has not been enabled in Voyager. For assistance determining if this feature has been enabled, reach out to Yardi technical support. |
Payment Date | Date payment was made. |
Cash Account | GL account that cash or check payments post to.
NOTE: The Cash Account field only shows for cash and check payment types. For more information, see GL Accounts. |
Post Month | Accounting month that the payment posts to.
NOTE: For ACH, credit, or debit payments, Kube automatically uses the current post month. |
Notes | Optional field where you can enter notes about the payment.
NOTE: Information that you enter in the Notes field shows on the Payments screen in the Notes column. For ACH, credit, and debit payments, Kube hides the Notes field because it automatically generates notes about the payment. |