How do I apply for ePay for an association?

You can apply for online payments for associations right within Buildium through ePay.

If you professionally manage multiple associations, you will need to apply for ePay for each bank account separately.

Once Forte Payment Systems has received your application, approval should take 1-2 business days.

In this article you’ll learn how to:

  1. Generate and submit an ePay application
  2. Confirm Forte's micro transactions

1. Generate an ePay application

To apply for a merchant account for an association:

    1. Navigate to Accounting > Banking, then click into the bank account you want to sign up for online payments.

    2. Select the Epay settings tab, then click Apply for epay account.

    3. The first page of the application asks for context about who you are and how the merchant account will be used. Select A self-managed or professionally-managed association.

    4. Once you’ve chosen who the ePay services will be used for, click Next: Association information.



    5. Fill in the details about the association, then click Next: Trustee information.

    6. Enter information about the trustee or board member who will act as the guarantor for the account. On the bottom of the page, enter application contact information. If you're applying for a professionally managed association, this will most likely be someone at your management company.



    7. When you complete the trustee information, click Next: Account information.

    8. Enter your unit information and rent amounts collected, from low to high. You will get an error if you enter $0 in the low box, so enter an actual monetary amount.

      Once you’ve entered unit and rent amount information, Buildium will automatically populate limit recommendations based on the information you entered. If you think you need higher limits than what Buildium has populated,
      click into the limit box to override the information. 

    9. When you’re satisfied with the amounts, scroll to the bottom of the page and click Next: Review Application.



    10. Review the entered information to make sure everything is correct. You’ll have the ability to make any updates right from this page by clicking Change next to the section you want to edit.

    11. Once you’ve reviewed the details, click Submit application.

2. Confirm Forte's micro transactions

When you apply for an epay account, Forte Payment Systems will send a few micro transactions to your bank account to make sure that everything is working properly.

These transactions are typically less than a dollar. There's usually one deposit and one withdrawal. You’ll get an email informing you of these transactions with instructions on how to confirm them.

After you confirm the transactions with Forte, you want to record that these micro transactions happened in your bank account in Buildium.

To record the micro transactions in Buildium:

    1. Navigate to Accounting > Banking.

    2. Click the bank account the micro transactions hit.

    3. Select Record other transaction and complete the form. 

If you’re not comfortable using the bank fee expense account for both the incoming and outgoing micro transactions, you can create your own equity account to use for this specific situation in the chart of accounts.

Click here to learn how to get started with ePay once you're approved

 

Article #  201807533

 

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