Extend your Lockbox Receivables Service with the Property Management App
Clearingworks NextGen Property Management solution is an App built on the Clearingworks payment platform and extends the capability of NextGen Receivables. The App is designed to simplify the receipt and processing of check payments for property management companies and home-owners associations (HOAs). Property management and HOAs have very specific needs in payment processing. Our solution automates many of the very manual processes with these key features:
- Property Account/Tenant Load – Create greater accuracy in payment processing and cash application by importing a simple CSV file that contains information regarding the various properties and complexes managed, ownership structure (if needed), depository account, unit numbers or account numbers and tenant names. This file can be updated as needed through our drag-and-drop secure file transfer process.
- Expedite Processing of Check-Only Payments – Combine historical payment look-up with Property/Account Matching to automate the processing of check-only payments. Check-only payments represent a high percentage of payments received by property management and HOAs.
- Online Decisioning – Expedite processing of all payments by using our Online Decisioning capability. Payments that cannot be processed by the bank operators can be sent to an Online Decisioning queue for handling by the property management office.
- Virtual Check Bursting – Eliminate the need to separate the check from the check skirt for business payments. NextGen Property management uses powerful image analysis technology to identify the check portion and electronically separate it from the skirt for standard lockbox processing and X9 file creation.
- Stop File Processing – Eliminates the risk of accepting a payment for a tenant or account that is no longer allowed to make payments due to their account status. Stop files can be uploaded as often as needed.
- Money Order Enforcement – Require certain tenants/accounts to only pay by money order or other approved official checks.
- Reject Work Queue – Simplifies the complete handling of transactions that could not be processed. The queue enables operators to rescan checks, make phone calls to customers and track each rejected item to make certain it was handled.
The NextGen Property Management solution also includes all the benefits of the Clearingworks platform including security and audit trails, secure file transfer, 13 months of data storage in our online system and user defined dashboards, reports, and searches. Contact your US Dataworks payments professional to find out how you can serve your property management clients.