IMPORTANT! Macquarie Bank Cheques
For our clients that bank with Macquarie, please be aware as of 1st November this year, Macquarie plans to phase out cheques. Please see their announcement page for more information.
When a building is being transferred to another management company that banks with Macquarie, the building’s funds should be transferred via EFT.
Moving forward, you should untick the below configuration in Payments > Configuration. When this is unticked, you will not be able to select the ‘Pay by Cheque’ radio button in the Payment Entry screen.
In both the Payment Entry and Payments screens, you will see a warning that if a payment is setup to be paid via cheque, it will not be able to be processed.
The very handy Search Creditors screen can be used to identify creditors that have recently had account activity and are set up to be paid via cheque. This will no doubt be very useful when contacting creditors to let them know that BSB & account numbers will be required for any future invoices to be paid.
