StrataCash accounts, developed in conjunction with one of Australia's leading banks, have been specifically designed to cater for the needs of the strata industry. They deliver all of the standard account functionality such as EFTs, credit interest, statements and more. The accounts can also be integrated with StrataMax and StrataPay, as well as other software programs. These accounts do not offer Osko payments.
StrataCash accounts are used by over 25,000 owners corporations and bodies corporate managed by some of the largest strata management firms in Australia. StrataCash helps strata managers streamline processes and save time with the daily banking tasks.
- StrataCash account functions
- Opening or closing an account
- Term Deposit Management
- Traces and recalls
- Transaction enquiries
- General banking enquiries
- Periodic Payments
- Stop Cheque Payment request
- Certificate of balance request
- Statement request
- Authorise EFT payments
- View log
Levy payments by cheque
If an owner uses a cheque for payment of their levies, the previously printed Levy Notice (containing the StrataPay deposit slip) will need to be printed out again and sent with the cheque to StrataCash.
To print the levy notice again, follow the instructions in Levy Notice Stored Report.
Non-Levy Deposits
When a payment is received for other income besides levies (Insurance Claim Refund or searches). You may want to consider your deposit method based on the banking facilities you have locally, and/or the type of deposit (cheque, cash etc).
Bank of Queensland Branch
If a BOQ branch is nearby, deposit the cash or cheques using the Bank Slip Report method if a receipt has been saved manually in the Receipt Entry screen.
Australia Post Branch
If an Australia Post branch is nearby, cheques can be deposited using the Print Deposit Form method with a StrataPay slip.
StrataPay Team
Cheques can be sent to the StrataPay Team using the Print Deposit Form method with a StrataPay payment slip. Cash cannot processed through this channel.
StrataCash Team
Alternatively cheques can be sent to the StrataCash team using the Bank Slip Report method with a printed bank deposit slip. Cash cannot processed through this channel.
Print Deposit form to Deposit Funds
To print a deposit form for StrataMax, the account code/s must be set up so the system can automatically process the funds through the banking process. Please refer to the Print Deposit Forms article for more information. This is the recommend method to use in order to deposit the initial cheque from a prior manager when transferring a building.
Receipt Payment | Bank Slip Report
This is a two-step process - Receipt the payment in StrataMax first, then print the Bank Slip Report:
Receipt Payments in StrataMax
- Search or select Receipt Entry.
- Ensure the type is New Entry in the red box on the right.
- Select the account code to receipt the payment to, e.g.: Insurance Claim Refund Code.
- Enter the details, including if you received cash or a cheque.
- Press Save.
Print ‘Bank Slip Report’
- Search or select Bank Slip Report.
- Daily Banking will be tagged by default, and if you use this report regularly, the system will pick up all unpresented receipts since the report was last printed. Alternatively a date range can be specified.
- Tag the box next to the building name in Selected Building Only if applicable, or tag all buildings.
- Click Proceed.
If the receipt and Bank Slip Report dates are different, there will be an unpresented receipt, which will need to manually be tagged when the deposit comes through in the banking:
- In Bank Reconciliation select the unmatched deposit transaction.
- Click the Tag List button to view all unpresented transactions on the account.
- Click on the appropriate unpresented receipt, and then click on ‘Add/Subtract’ so that the ‘Item to Match’ amount is the same as the ‘Total Addition’ amount at the top of the window.
- When these match, click the Tag Marked button and the close the window.
- The deposit in the Statement Entry/Processing tab should now be matched.
