Banking
Magain City Realty have one trust account operating: –
· Westpac
All tenants are given the BSB, Account number & their unique reference number at the start of the tenancy to set up their ongoing rent and invoice payments.
While Magain City Realty do not accept CASH or EFT on premises a few tenants may pay by cheque or money order. These need to be receipted through Property Me and banked with the Westpac bank.
Place the cheque into the safe until the afternoon, when the banking can be done. The code for the safe is written on the slip under the safe. Just make sure you add # to the end of the number.
Step 1: Make sure all postage has a "Magain" stamp on the back of the envelope
Step 2: Place a postage stamp on the right hand side top corner of the envelope
There is a mailbox at the shopping center across the road and the Property Managers will likely take it if going out for lunch
Receipting Cheques or Money Orders
Step 1: Log into Property Me
Step 2: Search the property & click on the blue button at the top called Rent Receipt
If you search by property, make sure you are receipting to the correct tenant.
Step 3: Receipt Type - leave as default “Tenancy”. Be sure to double check the tenancy name.
Complete as follows:
Amount: Refer to amount on cheque.
Date: Date you received cheque/money order
Payment Method: A cheque or bank Cheque is receipted as a “Cheque”.
Drawer: Client’s name (if the cheque is from Housing SA, make sure the drawer
is Housing SA & not the tenant’s name)
Bank: Enter the name of the bank e.g NAB, Commonwealth, ANZ
Branch: Located on the cheque, eg- Adelaide, Henley Beach, Morphett vale etc.
Step 5: Allocation: Allocate as required to rent, water, bond, deposit etc.
Step 6: Click the blue "$" to create Receipt.
Preparing the banking (to be updated to PME)
Step 1: Log onto Property Tree https://agent.propertytree.com/dashboard
Step 2: Click on the $ (Accounting symbol on left hand side panel)
Step 3: Under the heading "Banking", select “Create Bank Deposit”
Step 4: Select the Trust Account the cheque/s were receipted into. Just click on the link (number in blue) under the # symbol.
Step 5: Match the cheques to the cheques listed on the deposit slip to make sure you have printed the correct one.
Step 6: Click on "Create Cash & Cheque Deposit" to clear the deposit
Step 7: Fill out a bank deposit slip - the deposit books for Westpac are kept in the drawer at reception.
Westpac - complete both the stub and the bank deposit slip, sign the deposit slip, tear this off and place with the cheques.
Step 9: Place the bank slip and bank cheque together with a paper clip until you can take it down to the bank.
Westpac is located on Gouger St, next to the Central Markets