Multiple Locations/Accounts for ACH payments now available

We've recently made some updates to the ACH functionality of the tenant portal that allow you to have multiple bank accounts and specify which account each tenant's funds transfer gets transferred into.

First, you need to have ACH payments enabled for your account (you'll need to be approved by the underwriting & compliance team first, but approvals are straightforward and only take 2-3 days).  If you need multiple accounts, make sure request additional "Locations" when you're applying for the ACH add-on.

For each Location, you'll have a different Location ID and this is associated with a particular bank account into which your tenants will send funds.

Now, when you go to the Services page in 123Landlord, you'll see that there is an ACH Credentials section.

PLEASE NOTE: If you don't currently have ACH services enabled, nothing you add to this area will matter - you need ACH enabled to proceed here.  Also, if you already have ACH services enabled, but you only have one account and you want to keep it that way, this area does not apply to you - your credentials are already stored in the system.  If you want to add another bank account, contact us.

The ACH credentials area allows you to set up your different Location IDs.  All of the information required here is generated and sent to you when your ACH services are approved.

Click Add ACH Credential to add your first location ID:

Give the credential a descriptive name that represents the bank account for this credential.  Enter the Merchant ID, Location ID, Store ID, and Store Key issued to you.

Continue adding ACH credentials for each location ID you have been approved for.

Linking Tenants to Bank Accounts

Now that you've added your bank accounts / credentials, you can specify which tenant payments go to which bank accounts.  This is done at the Building level - so you'll need to have your tenants assigned to Properties in the system (normally be creating lease records that link the tenants to the properties), and the properties should be linked to a Building.  The Building is a way of categorizing a number or Properties/Units into a higher level group, that either represents a physical building the units or apartments belong to, or just as a virtual way of categorizing/grouping units/properties.

Once your properties are pointing to Buildings, you can link the Building to your ACH Credential (Bank Account).  Click Edit on the Buildings screen to open a Building entry and link an account (you'll need to be an Admin user to see this selector field):

Select an ACH Credential and click Save.

Tenant Portal

Now, when Tenants log into the Tenant portal, the system will detect what property (and thus Building) they belong to, and will transfer any funds they send to you to the bank account associated with the ACH Credential linked to that Building.  This way you can cleanly segregate tenants funds into the bank accounts they belong to.