CMS - How To: Setup Netcash

Created by Mienette van Heerden, Modified on Thu, 13 Jun, 2024 at 2:07 PM by Glennise Pretorius

Before getting started with the Netcash debit order process, there are some setups required on the Community Profile.

1. Netcash Profile Setup

1.1 Netcash Profile

Due to Netcash being a free integration between the Property Managing Agency and WeconnectU, there will be no charge from WeconnectU, however, the Property Managing Agency will need to open an account with Netcash at a charge.

1.2 Netcash Community Bank Accounts

The property Managing Agency will be responsible to create and capture the relevant communities with the bank accounts on the Netcash Profile.

Note: There are dedicated Key Account Managers for WeconnectU clients @ Netcash.

2. WeconnectU Portal Activation

The Property Managing Agency will inform WeconnectU of the choice to activate the Netcash Integration function on the relevant reseller profile. WeconnectU will then activate the integration portal.

3. Netcash Integration Activation

Navigation: Global Overview > Communities List > Menu Options > Intergrations

From the Global Dashboard, scroll down to your communities. Navigate to the relevant community and click on Menu Options. From the Menu Options list, select Integrations.

A pop-up message will come up, tick the NetCash Debit Orders box and click on Save.

Select the settings Icon next to Netcash Debit orders. The following pop-up message will appear. The Netcash Account, Account Service Key, and Debit Order Key will be provided by Netcash. After these three fields have been completed, click on Save.

IMPORTANT: This is a very important step and there is NO room for error. Ensure that there are no spaces or any other characters before clicking on Save and that the correct community has been selected. This cannot be undone. If you add the incorrect details to a community it cannot be transferred or just simply changed.

Once this step is completed, WeconnectU will automatically create a cashbook. This cashbook will reflect on the trail balance due to the surety amount. There will always be a balance.

Note: When running debit orders, "surety" is required and in this industry, it is tricky to have a trustee/director sign for surety as these are not always constant positions in the community. The Property Managing Agency is not always in the financial position to sign for surety.

Here is where Netcash comes in, Nectachs has a "built-in" surety. In essence, the Property Managing Agency can run debit orders without surety as Netcash withholds 10% of the total debit order amount as surety. The 10% is still the Property Managing Agencies' money, however, it can only be accessed at a later stage in the month.

Important: Trust money may never be kept as surety as this is illegal.

4. Netcash Default Billing Setup

Navigation: Community Level > Settings > Default Billing Setup

Scroll down to the bottom of this page and set up the Debit Order Control Account.

5. Debit Order Mandate Setup

Navigation: Community Level > Finance > Customer > Manage Customer

Follow the same steps as mentioned in point 1 of this article, Netcash will validate the bank account this is indicated with a green tick. Should there be an error the reseller must contact the owner.