Record a buyer's or member's payout account

Before you can pay someone by bank transfer, their account has to be on record: a society member for transit rent and corpus, a channel partner for brokerage, a buyer for a refund. Payout runs pay each person's Primary active account and put its holder name, account number and IFSC into the bank file. You add accounts on the Bank accounts register, or from the owner's own page.

Before you start

• The owner exists: the buyer or partner contact under Contacts (Maintain contacts), the partner company under Companies (Register a channel partner), or the member on the society.
• You need the Create permission on Bank Accounts (the Administrator, the Finance Lead and the Accountant in the default roles). The owner picker only offers the kinds you can look up: Person needs the View permission on Contacts, Company the View permission on Companies, and Society member the View permission on both Societies and Tenants. Picking a Purpose needs the View permission on Lookups.
• Have the account holder's name exactly as the bank prints it, and the 11-character IFSC.

Steps

1. In the sidebar open Masters and choose Bank Accounts. The page "Bank accounts" ("Every account you pay from or into: the promoter's RERA, GST and operating accounts, channel partners, vendors, buyers and society members.") lists every account. See Bank accounts.
2. Click New bank account. The panel "New bank account" opens with the sections Owner, Account details and Holders.
3. Under Owner ("Whose account this is; it cannot be changed later."), choose:
   • Person, then pick the buyer or the partner's contact;
   • Society member, then the Society and the Member ("Search by name, phone, membership or flat"); or
   • Company (the default), then the partner company ("Search active companies"). For a person or member the Purpose hint reads "Collection, separate, operative and GST accounts belong to the promoter company, so they are not offered here." (for a company it reads "Collection, RERA separate, operative, GST, operating, payouts…").
4. Pick the Purpose your organization uses for this kind of payout (from a company's own page it is already filled in from the company type, Channel Partner Payout for a channel partner), for example Tenant Payout, Channel Partner Payout or Client Payment in the default list (purposes come from **Settings

   Lookups**). Leave Project at "Not project-specific" unless the account is only for one project.

5. Under Account details fill Account holder name ("Exactly as printed by the bank (used to match cheques)."), Bank (e.g. HDFC Bank), Account number and IFSC (e.g. HDFC0001234), and if known Branch, Account type and UPI id. Tick Primary account ("Default for payouts to this owner.") and, once the cancelled cheque or penny drop is checked, Verified ("Cancelled cheque or penny-drop checked."; ticking it needs the Edit permission on Bank Accounts). Keep Active ticked.
6. For a joint account, click Add holder for each person named on it ("List every holder of a joint account; a member's payout account must include the member."), set each holder's Role (Primary or Joint), and choose the Mode of operation (for example Either or Survivor). With two or more holders the mode is required ("Choose how the joint account is operated"). The first holder you add is the Primary holder, and only one holder can be primary. Adding holders needs the View permission on Contacts.
7. Click Add account. You see "Bank account added." The account appears in the grid with its Owner badge (Person, Company or Society member) and the chips Primary and Verified or Unverified.

You can do the same from the owner's page: the Bank accounts card ("Where this owner is paid, or pays from.") on a company or an allottee has an Add button that opens "New account for <owner>" with the owner already filled in.

What happens next

• Payout runs pay this account. Member Benefits and Commissions runs look up each payee's Primary active account (any active account when none is primary) and show it in the preview and the bank file: Pay member benefits, Pay commissions through a payout run.
• Single payouts can name it. On Record payout the field To the payee's account offers the party's accounts (Pay a commission on its own).
• Ticking Primary account on one account removes the flag from the owner's other accounts.
• To change the details later, click the account holder's name (or the pencil) and Save changes ("Bank account updated."). The owner can't be changed: add a new account for the other owner.
• An account no longer used can be unticked Active ("Inactive accounts stay on record."); it is then no longer paid by runs.

If something goes wrong

• "Enter the 11-character IFSC, e.g. HDFC0001234" or "Enter a valid 11-character IFSC code.": an IFSC is four letters, a zero, then six letters or digits. A 10-character code has usually lost a zero. "Letters and digits only, no spaces", "Use at least 6 characters" or "Use at most 30 characters" on Account number, "Pick the member" or "Choose the society" under Owner, or "Not available on an allottee's account." on Purpose: see Bank account cannot be saved, changed or deleted (trouble.accounting.bank-account-cannot-be-deleted).
• "An account with this number and IFSC already exists" on Account number: the account is already on the register, perhaps under another owner. Search for it first. See Already exists (trouble.admin.already-exists).
• A payout run still skips the payee with "The payee has no active bank account on file": the account is inactive, or was recorded against a different person (for example the co-owner rather than the member). See Payee skipped from the payout run (trouble.accounting.payee-skipped-no-bank-account).
• "Payments reference this bank account; deactivate it instead" when deleting: see Bank account cannot be deleted (trouble.accounting.bank-account-cannot-be-deleted).
• New bank account isn't shown, or the owner kind you need is missing from Owner: your role lacks a permission. See No access or no permission (trouble.admin.no-access).

Things to know

• Verified and the holders list are for your records: an unverified account is still paid by a run, and nothing checks that a member is among the holders.
• Landowners and PAP tenants belong to the project, not to a society, so the Society member picker can't find them. Add their account from the Bank accounts card on their allottee page instead.
• The promoter's own collection, RERA separate, operative and GST accounts are recorded the same way but against the promoter company; that is part of making a project ready to sell. A buyer's refund is paid from the project's operative account by default.

Related

• Bank accounts
• Company
• Allottee
• Pay member benefits through a payout run
• Pay commissions through a payout run
• Refund a cancelled booking
• Register a channel partner