Same Day Settlements

• Payments·Same Day Settlements

  Do payments reconcile themselves, or do I still key them in?

  Any payment initiated through the Kompas payment engine is reconciled automatically as of its settlement date, which covers pre-authorized debit, Interac e-Transfer, one-time tenant payments and vendor EFTs. That removes the double entry most operators do today, where a payment is recorded once in the property management system and again in the accounting file. Payments made entirely outside the platform still need a manual deposit posted, and the bank reconciliation flow is there to catch the rest.

• Payments·Same Day Settlements

  Can one e-Transfer email settle into several different bank accounts?

  Yes — one email address can serve your entire portfolio and settle into all of your bank accounts across owners and entities. Kompas routes each payment to the settlement account attached to the lease it is mapped to, so a management company running dozens of owner entities does not need a separate email, a separate inbox rule or a separate reconciliation for each one. This was designed for portfolios with many owners and many banking relationships.

• Payments·Same Day Settlements

  Do I need a separate payment processor alongside Kompas?

  No — payment processing is built into Kompas, so there is no second vendor to contract with, no separate portal to log into and no file to move between systems. Setting it up is one of the four phases of onboarding, where your merchant application is submitted as part of getting you live. Because collection and accounting are the same platform, a payment never has to be exported from a processor and imported into your books.

• Payments·Same Day Settlements

  What happens if a tenant pays me outside the platform?

  You post a manual deposit against their lease and the ledger stays accurate, which is how cash, a paper cheque or a direct bank transfer gets recorded. Payments handled this way do not reconcile themselves the way platform-initiated payments do, so they are picked up in the bank reconciliation flow instead. It is a supported path rather than a workaround, and it is why pre-authorized debit is never mandatory for your tenants.

• Payments·Same Day Settlements

  Can I collect rent in the United States or outside North America?

  Kompas payments cover North America only. Canadian bank accounts need a transit, institution and account number, and US accounts need SWIFT or ACH details, but accounts held elsewhere cannot be debited or paid directly. An overseas owner holding Canadian property is fine, since the property's banking is Canadian; an overseas bank account as the settlement destination is not supported today.