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Collecting Payments with Property Inspect
Collecting Payments with Property Inspect
Steve Rad avatar
Written by Steve Rad
Updated over a week ago

Property Inspect's new Wallet module allows you to enable online payment collection via your Invoices. 

Enabling Payments

To enable the Pay Now button to appear on your invoices... you need to setup a payment account.

Start by navigating to Settings > Price Lists to enable payments 

You will need to start by clicking on the 'Add bank details' link within the red area before Wallet can be turned on. Clicking the link will navigate you to the Wallet Account Setup Page. Begin by selecting whether you are setting up an Individual (non-company) account or a Company (Ltd/Plc/etc) account. 

Click on Company Account or Individual Account and you will be taken to a form to complete Payment Account setup:

For company accounts, you'll need to enter the personal details and addresses of each Director/Shareholder with more than 25% ownership in the business. 

Payment accounts are setup via, no personal or sensitive banking or shareholder information will be stored on Property Inspect's servers. You must agree to Stripe's Connected Account Terms of Service to use this service. 

Once the details above have been submitted, you will be able to store your Bank Account name, sort code and account number where payments will be made. 

Receiving Payments

Payments can be made directly on generated invoices via a secure link:

Clients who are logged in can opt to save their payment details for the future, however users who aren't logged in, such as vendors or third parties, will only have the option to enter new payment details. 

Clicking the Pay Now button will open a window to enter payment card details:

Once a payment has been successfully made, you'll be alerted that your payment has been received and your invoice will show as 'Paid' on the Inspection Details page:

You will also be able to see a summarized list of all payments and payment-related activity on your Payments log, head to Settings > Wallet to access the log.

Withdrawing Payments

All payments to you will be held in a virtual account belonging to you until it is automatically transferred to your bank account 7 days in arrears, every 7 days. 

There is no manual action to take other than ensuring your Payment Account is setup correctly with the correct Bank Details (account number and sort code) entered. 

Rejected deposits (i.e. rejected by your bank for invalid details) will remain in a pending balance on your account. 

All deposited payments will show in your Payment log accessible under Settings > Wallet.

Your Pending balance will be payments that have been made but not yet cleared for payout. The current balance/next payout will be monies that have passed the 7 day clearing period. 

 Fees on Payments

Property Inspect will charge a fee of 3% + 25c (ex VAT) for each payment collected via successful invoice payments via Property Inspect, known as the Transaction fee. 

For example, if your invoice total is $100 + VAT, the customer will pay $120 total. The fee of 3% will be deducted from the $100 (ex VAT) total, which equates to $3.00, plus another 25c processing charge, making our total fee $3.25 + VAT ($3.90). Of the total $120 paid to you, $116.10 will be transferred to your bank account. 

Customers paying invoices online will not incur any additional fees other than the total of your invoice. 

When customers pay your invoice, you'll receive a notification via email and your Dashboard, monies will be deposited to your Payment account, minus the transaction fee and will automatically transfer to your bank account within 7-10 days. Your customer will also receive a payment receipt via email. 

A VAT invoice will be added to your account on the 1st of each month itemizing all fees paid for the previous month. You can find these invoices under Settings > Billing.

What's Next? 

Well done! You've completed the 'Settings' training guides. Here is some more information to carry on your learning journey.

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