Payments

Kompas runs four payment types: tenant pre-authorized debit, tenant Interac e-Transfer, tenant one-time payments from a bank account or debit card, and supplier payments by EFT. Every one of them is initiated inside the platform, so the entry, the settlement and the accounting posting are the same event rather than three separate jobs. Credit cards are not supported today. Government and municipal bills cannot be paid by EFT and have to be handled outside the platform or by a cheque Kompas prints.

On the first of each month Kompas invoices every active lease according to its terms, then debits each tenant enrolled in pre-authorized debit for the rent owing. By the time you get to the office on the first, the charges are posted, the payments are collected and deposited, and your receivables are updated. The team calls this the FOM run, for First of Month. Nothing has to be keyed in, and nothing waits for someone to remember to trigger it.

All EFT payments settle same day, and Interac e-Transfers settle the same day they are mapped to a lease. That means rent collected through a first-of-month pre-authorized debit run is in your account that day rather than sitting in a processor's holding period for several business days. Because settlement and reconciliation are the same event in Kompas, the deposit shows against the tenant's ledger as of the settlement date without anyone matching it by hand.