As a Property Manager, you can download different reports on your LetUs account depending on the information you need. Here is a summary of the different reports:
Overdue Charges Report
Transactions that are unpaid by tenants. This report cannot be filtered by dates, it will show the current results only.
The payments report is a breakdown of all payments processed in real-time. In addition to resident details, Source of the payment, transaction number, payment method, transaction breakdown, and transaction notes from the resident, the payments report also includes the EFT details.
Column titled “Source” specifies how the payment was initiated, some possible types are auto-payment (Recurring), one-time payment, Hosted payment page (QuickPay), PAD (Preauthorized payments).
The different types of statuses are the following:
- Complete: It means successful payment or payment was returned (Mostly because of NSF - see column L for “Type” to check if it’s a Return payment and column Q for the return reason)
- Failed: Payment declined due to account issues, for example, wrong account number, the bank not supported, no EFT is created.
- Cancelled: A refund was issued
- Timed out: For cash payments not paid
- In Progress: The transaction is still being processed (different banks have different processing times
If a row in the column titled “EFT Ref ID” is empty, it means this payment has not been batched and deposited into the property manager’s account.
The EFT Report is Letus’ bank reconciliation report designed to help the accounts receivable team understand the itemized breakdown on bank deposits from resident transactions on Letus.
For every bank account online with Letus, there are two merchant accounts for each payment type:
- Credit/credit-debit transactions (CC)
- Bank account transactions (DD)
At the end of each day, all payments are batched into two EFTs to the property manager’s account. CC and DD payments are always batched separately in one EFT.
Deposits are typically made within 2-3 business days after the EFT has been batched by the processing bank during business days.
To view an itemized breakdown of the transactions within an EFT, locate the deposit amount found in Column L, titled “EFT Amount” - this total will match the deposit found on the property manager's bank statement.
EFT - NSF, Return, and Declined:
A Return or NSF is procured if a resident’s payment declines after the funds have been sent to the property manager’s account. A returned payment is added to the report and subtracted from the payment total of the EFT. Letus adds the returned payment to balance PM’s accounts receivable for funds owed by the resident.
When a transaction fails due to a DECLINED reason (due to account issues, for example, wrong account number or the bank not supported) Letus does not send the EFT.
This report shows all users who have signed up to Letus. It can be filtered by property and date but will default to the last 30 days.
The report shows the date of creation, details of the property, and the tenant. The Accounts ID, origin, status, and login details. As well as details from the previous and future payments.
Check Column “Account Status” to confirm that the tenant's account is active. Also, column “Login Account” shows whether the login to the account has been verified.
The tenants' report can be used to see upcoming payments and also to see past payments.
Custom CSV Report
You can download two different custom CSV reports. The first report is for the recurring billing dates, and it can be filtered by property and date. The second report shows all the declined payments, and it can also be filtered by property and date.