Applying Charges with TOPS Pay owners
Once the TOPS Pay setup is complete for the Community and homeowners, you can start processing charges.
How do I apply charges?
Follow the instructions in the article below on how to apply charges.
What was that pop up about?
When processing charges that include TOPS Pay candidates, they'll get an email like the one below the day the charge is posted, 1 day before the payment is withdrawn, and the day the payment is withdrawn from the primary account the owner has selected.
After you post the charge, you will see an In Progress- Cash Receipt transaction on the Owner/Property activity feed.
After the charge is posted, the owner will have 3 business days to make any edits to their payment method, or to disable AutoPay.
If an owner disables AutoPay before the payment is withdrawn, they will not be included in the TOPS Pay Cash Receipt batch and will be responsible for paying the charge by sending in a check or paying in another manner at the office. They will no longer be directly debited based on the charge.
Was this charge accidentally posted? Or do you need to stop the funds from being deducted from the owner's accounts?
What happens after the 3 days?
Time’s Up! When the countdown ends, TOPS [ONE] creates the TOPS Pay Cash Receipt Batch. And the money will be withdrawn from the owner's account.
Depending on the bank, it can take up to an additional 3-5 business days for the money to actually be deducted from the homeowner's bank account.
Cash receipts are Posted
The cash receipt will change from In Progress to Posted. Once the payment is posted, the cash receipt will include the check number.
Where does the money go?
Once the money is deducted from the homeowner's bank account, it can take up to 2-3 days for the receivables to be deposited to the communities primary bank account.
|Date Processed (Example)||Action|
|1st of Month||Process Charge|
|4th of the Month||Post Cash receipt Batch (+3 Days)|
|7th of the Month||Debit Owner Bank account (+ 2-3 Days depending on the bank)|
|10th of the Month||Monies are deposited to the community's primary bank account (+2-3 Days)|