Skip to content
← Property Tree

How can we improve Property Tree?

Property Tree: Sales

Categories

JUMP TO ANOTHER FORUM

(thinking…)

Reference allocation for ABA uploads and Bank Transferrs

There needs to be a way to be able to put reference numbers/names into ABA file bank transfers. I have done several transfers to Solicitors/ NSW Trustee etc and the money has been unable to be identified. I understand that you can do a transfer straight from the bank, if this is the solution, why use property tree at all. We strongly rely on references, including to vendors.

When we used REST, we were able to do this. Simply being able to add a reference and the information comes across from the description section into the ABA would solve a lot of problems.

44 votes

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close

We’ll send you updates on this idea

Lisa Dewson shared this idea  ·   ·  Report…  ·  Admin →
How important is this to you?

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close
Submitting...
An error occurred while saving the comment
  • Susan Qu commented  ·   ·  Report

    Hi PT, could you please review this Idea and action as soon as possible? Thank you

  • Susan Qu commented  ·   ·  Report

    Hi PT, could you please review this Idea and action as soon as possible? Thank you

  • Susan Qu commented  ·   ·  Report

    Hi PT, could you please review this issue as your earliest convenience? Thanks

  • Susan Qu commented  ·   ·  Report

    REST Can grab the Payee EFT reference into the ABA file, but Property Tree CAN’T, and only put the default company name as the reference. We transfer the system from Rest to PT, which aim to save the time during the daily work flow. But now, we need to manually do all the transactions in the bank directly, because the Reference Number is EXTREMELY IMPORTANT for our clients when they exchange or settle the property. Without the reference, Big solicitor firm can’t locate the fund on time, which will delay the settlement and accrue the interest penalty for our client. If we can’t do it from system, it is not the time consuming issue only, it also will be very easy to make mistake and that will be an unaffordable troubles for us. Please consider to improve this function. Thank you for your attention.

  • Vicky Tang commented  ·   ·  Report

    As opposed to REST, PT is not capable of mapping the text in the Description box for fund disbursed under Sales to the ABA file. It is a big handicap as in our line of business where a lot of payments are made to the Vendors solicitors, it is essential to have a unique reference for them to identify the incoming funds. It is also confusing for us as a PT user when we load up more than one payments with the same amount and that they carry the same reference. We have to revert back to manually inputting the payment entries in the banking platform in order to include the payment reference. It is a big fallback with a system
    üpgrade from REST to PT.

  • Stephanie Zhou commented  ·   ·  Report

    We have received the email which is creditor chased the money, but actually we have paid, and then we found the same problem, when we paid creditor, the transaction didn't show the reference. The reference provided is to identify the money or clarify the fund, we don't have this problem when we used REST before. We hope Property Tree can improve of this to save us the extra working time.

  • ELLEN CHAN commented  ·   ·  Report

    Agree with Lisa.
    1. why is a function taken away when upgraded to property tree.
    2. the external parties we engage with eg solicitors/conveyancers who receive transfer of holding deposit fr us, receive hundreds of deposits a day (think large scale settlements or large scale off the plan projects) if every deposit that comes through did not have a reference number. Tracing etc would be an administrative nightmare.

    PT is meant to make peoples lives easier, not harder.
    Please CHANGE.

  • William Pau commented  ·   ·  Report

    The reference number for the transaction to the solicitor firm is extremely important otherwise they can not allocate the funds accurately.

  • May Huang commented  ·   ·  Report

    the funds transfer to solicitor firm, can't put specify reference details,

  • Daisy Chan commented  ·   ·  Report

    We need a reference number for this function when we do the transfer.

  • Kahlen Zhu commented  ·   ·  Report

    We need this function as well. When we paid vendor/vendor solicitor trust account, they always need us to provide reference so that they can identify the money, otherwise they need extra time on just finding the money. We used REST before and it had this function, but when we upgraded to Property Tree, this function is gone and gives us a lot of troubles. I hope Property Tree can add this reference number into ABA file uploading to bank and show in bank, this little step can save us a lot of extra work.