Void Online Payments

When an error is made in an online payment, there is a limited window the transaction can be void. Clients can void online payments quickly in Rentec Direct property management software allowing time for a correct transaction to be entered.

Types of Online Payments that can be Voided: 

(All ach, credit, or debit card transactions)

• Tenant payments 
• Rental Application fees
• Vendor payments 
• Owner Disbursements 
• Owner Contributions

More benefits of being able to Void Online Payments.

Voiding Online Payments 

The following steps will explain how to process a void in each of the five scenarios.

How to Void a Tenant Payment

In your Rentec Direct account: 

1. Click on Tenants 
2. Right-click on the Tenant and select View Ledger 
3. Right-click on the payment and select Edit Transaction 
4. Click on Void Transaction
5. Approve the notice confirming that you want to void the transaction

How to Void a Rental Application Fee

In your Rentec Direct account:

1. Click on Properties 
2. Click on Applications 
3. Click on the Application to view the full application 
4. Click on Void next to Fees Received
5. Approve the notice confirming that you want to void the transaction

How to Void a Vendor Payment

In your Rentec direct account:

1. Click on Properties 
2. Click on View Ledger 
3. Right-click on the payment and select Edit Transaction. 
4. Click on Void Transaction
5. Approve the notice confirming that you want to void the transaction

How to Void an Owner Disbursement or Contribution

In your Rentec Direct account:

1. Click on Owners 
2. Right-click on the Owner and select View Ledger 
3. Right-click on the payment and select Edit Transaction. If the transaction is a split transaction, click Edit Primary Transaction to edit the primary transaction first.
4. Click on Void Transaction
5. Approve the notice confirming that you want to void the transaction

Here’s a little more information to help clarify what a void is, who can process a void, how quickly the void occurs, and more helpful details.

What Does it Mean to Void a Payment?

• When an online payment is void, the payment is stopped before any funds are transferred out of the bank account. 
• Even when a transaction has been voided, it may show up as a pending transaction on the customer's account statement for a short period of time. 

Note: For further clarification of what a void is and how it works, click here.

Who can Void Online Payments in Rentec Direct? 

• Any Manager or User with permission to Allow Editing of Transaction Amount can void online payments.
• Tenants cannot void transactions

Note: Click here for more information about setting user permissions in Rentec Direct.

When can Voids be Processed? 

• Voids can be processed the same day the payment was entered
• The cutoff time for most voids is 4 pm PST
• For transactions processed later in the day, the void window may last until midnight
• If the option to "Void Transaction" is not visible that means the transaction has already been processed and the window to void the transaction has expired

Pro Tips:

• It takes approximately 30 seconds for the void to be in effect
• If an online payment was entered on a weekend or holiday, the void can be processed the first following business day

How to Verify a Transaction was Void? 

There are a few ways to confirm a payment was void in your Rentec Direct account:

• The dollar amount of the transaction will be changed to “0” 
• The memo in the transaction will indicate “Void”

In Reports

• Online Payment reports will have an indication of "Voided"

Pro Tips:

• If management fees are generated from rental income, the fee will need to be manually removed from the property ledger or changed to "0" following these steps in the Rentec Direct  knowledgebase
• If tenants are set up for auto notification for payments, you may want to send a clarifying message after a payment has been void. Click here for more information on Sending Email Messages to Tenants, Owners, and Vendors
• If your selected preference is for application fees to not show on the property ledger, there will be no indication on the property ledger of the void
• There is no fee to void a transaction