Post-dated cheques from plan to bank
Plan the year's post-dated cheques with the lease and collect them. Keep them in the safe, put them on deposit slips, and record each as cleared or bounced. A cleared cheque becomes a payment matched to its bills; a bounced one reopens the bill, adds the fee and tells the tenant.
PLANSEvery plan
Why it matters
In the UAE and in India rent is often paid with a year of post-dated cheques handed over at signing. They sit in a drawer, one is not banked on its date, and when one bounces the bill still shows paid. SmartMy Lease plans the cheques with the lease, follows each one from the tenant to the safe to the bank slip. It turns a cleared cheque into a payment matched to its bills. A bounced cheque reopens the bill, adds the fee to the next bill and tells the tenant. So nothing is lost between the safe and the bank.
The problem it solves
- A tenant hands over four cheques for the year and they live in an envelope in a drawer.
- A cheque dated last week was never banked.
- When a cheque bounces, the bill shows paid, the fee is not charged and nobody tells the tenant.
- The security cheque is banked by mistake.
How it works
- On the lease press Cheque Plan. Enter how many cheques (4 to start with), the first date and every how many months. Add the amount of each, the kind and the bank. Tick Plus a Security Cheque if one is kept.
- Make the Cheques. They appear on the lease's Cheques tab as To Collect.
- When the tenant hands them over, press Received on each with the cheque number and bank (a photo too), then Put in the Safe.
- On the date, filter Due to Deposit, select the cheques and Deposit Selected. They go on a deposit slip for one Entity and one bank account; mark the slip Deposited.
- When the bank clears a cheque, press Cleared: a payment is made in the bank account and matched with the bills the cheque pays.
- If it bounces, press Bounced with the reason and the fee. The payment is undone and the bill opens again. The fee goes on the next bill and the tenant is told. Replace it when a new cheque comes.
Everything it does
Cheque
- Cheque number, bank, branch, drawn by, cheque date, amount, photo, note
- Kind: Rent, Security (not banked), Deposit, Fees / Charges, Other
- Bills it pays, bank account
- States: To Collect, Received, In the Safe, Deposited, Cleared, Bounced, Replaced, Returned, Cancelled
Cheque plan
- How Many Cheques: 4 to start with; Every (months) follows (12 divided by the count)
- Each For: the lease total divided by the count to start with
- Kind Rent, Fees / Charges or Deposit; Plus a Security Cheque with its amount
- The lease's Cheques a Year tells you how many to plan
Banking
- Received needs the number and the bank
- Deposit slips: one Entity and one bank account, number, date, total, Deposited
- Security cheques are never put on a slip
- Cleared makes a customer payment in the bank account and matches it with the bills it pays
Bounces
- Reasons: Not Enough Funds, Signature Differs, Payment Stopped, Account Closed, Date / Details Wrong, Other
- Bounce date and fee; the fee becomes a charge on the lease
- Replace with a new cheque (number, bank, date, amount); the old one shows Replaced By
- Return to Customer for a cheque held or bounced; Cancel only a cheque never received
Lists
- Filters: To Collect, In the Safe, Due to Deposit, Deposited, Bounced, Security Cheques
Who uses it
Lease userPlans, collects and banks cheques.
AccountsMarks slips deposited and cheques cleared or bounced.
TenantSees their cheques with dates, amounts and status.
Where you use it
- Web: Cheque Plan on the lease; Lease > Billing > Collection > Cheques and Deposit Slips
- The SmartMy Lease Staff app: Billing > Collection > Cheques to collect cheques with a photo (built and in testing, not in the app stores yet)
- Tenant web page and the SmartMy Lease app (Money > Cheques): their cheques and status. (The app is built and in testing, not in the app stores yet)
What you control
Settings
- Cheques planned: 4 to start with, every 3 months
- Bounce fee: entered per bounce
- Cheques also work on memberships and other rentals
Notifications
- Cheque Bounced: to the tenant, by email and in-app, at once
- Each person can switch off a channel, such as email, for themselves; in-app notices always arrive
Questions
Can we plan all of a year's cheques at once?
Yes. Cheque Plan makes them in one step: how many, the first date, every how many months and the amount. Add a security cheque if you keep one.What happens when a cheque bounces after it cleared?
The payment is cancelled, so the bill shows unpaid again. The bounce fee is added to the next bill, the tenant is told, and you can Replace the cheque.Can the security cheque be banked by mistake?
No. Security cheques cannot be put on a deposit slip.Does a cleared deposit cheque fill the deposit?
No. A cleared cheque makes a customer payment. Record the deposit on the lease's deposit, or take it online.Related features
LEASES AND RENTRent schedule in advance or arrears, with rent-free monthsA confirmed lease bills itself from a schedule: monthly, quarterly, half-yearly or yearly, in advance or in arrears. Part periods go by the calendar, and stepped rents, rent-free periods and holdover worked in.CHECKS, DEPOSITS AND REPAIRSDeposits, deductions and settlementThe deposit is held on a liability account, taken in one go or in parts. At move-out, deductions are proposed from the check. The tenant agrees or disputes each line online. Settle Deposit keeps what is agreed and refunds the rest.LEASES AND RENTLate fees, chasing steps and promises to payLate rent is charged a fee by your rule, with caps, and chased step by step: a reminder, a final demand, a legal notice. Chasing waits while a promise to pay or a payment plan runs.LEASES AND RENTLeases with joint tenants, guarantors and several unitsA lease holds the tenant, joint tenants, occupants, guarantors, one or more units, the term, the rent and how it is paid. Confirm it and the rent schedule, the deposit and the unit statuses follow.OPERATIONSThe SmartMy Lease Staff appProperty managers, leasing agents, inspectors, maintenance, housekeeping and the front desk run the day from a phone. The app opens on Today and its Menu holds the same places as the web's Lease menus.
See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.