For instructions on how to get setup for a Merchant Account, click here. Once you have been approved for a merchant account, follow the directions below to use the new features.
Rentec Direct provides reporting of all the transactions; however, ACH Direct will also be providing you with a reporting system which can be used for additional reconciliation or for double checking any transaction’s processing status.
Now that your account is setup, if you login and visit Settings, Setup EasyPay you will be presented with the screen you see below. Please verify this is setup to your satisfaction. Everything in there now are the default settings. You can enable credit card payments by checking the boxes and entering the convenience fee percentage you wish to charge. The convenience fee is what the system will automatically charge tenants if they pay by credit card. The percentage is charged on top of their payment and the full amount is credited to your bank account. We also recommend setting the EasyPay income account setting to the appropriate account in Rentec that matches the checking account you provided with your application so Rentec will automatically apply those payments to that account. You are also welcome to download our application examples (top right) in order to create your own for tenants. Since you have a merchant account, there is no need to submit authorization forms to us any longer, just keep them for your own records.
To enable a tenant for EasyPay, go to the Tenants tab, right-click on any tenant and choose ‘EasyPay’. There you can enter the routing #, account #, and ACH fee (if any) you wish to charge them as well as setup one time or recurring transaction. Be careful though, as the system is live, any charges entered into the system will process from this point forward.
You can also pay owners via ACH now that you have a merchant account setup. Visit the Accounts tab (enable it under Settings, Accounting Defaults if it does not already show). Right click on the owner and choose Send Money.
Now enter the owner’s banking routing number and account number. These values will be automatically saved for future use. Enter the category for the payment (usually Owner Distributions or something similar), and the amount to pay. Now click ‘Send Money’. The money will be debited from your account and credited to the owner’s account within just a few days.
If you want to perform a live test using your merchant account, use the test merchant account instructions here.