Rent and Other Payment Processing Services
Scribcor Global’s payment services complement our lease administration offering. Developed in tandem with our clients, payment processing is performed by professionals who know the industry, with segregated duties, and allowing clients to retain control over cash disbursements. Payments can be issued by check, by wire, or by other electronic payment means.
Rent Processing and Payment
For all leased assets, rent payment is a critical activity that takes place on a regular cadence. Our custom rent processing solutions give you flexibility in how our team can best fill your unique business needs. In addition to the review of invoices against your lease data, rent processing is typically approached in one of the following ways:
- Our team issues payments directly to your lessors
- Utilize your lease administration software to execute a payment routine that is integrated with your ERP or accounts payable system
- Prepare, review, and approve rent schedules prepared inside or outside of your lease administration system
Utility and Other Portfolio Related Payments
In some cases, additional lease related payments are issued to outside vendors and tracked as a part of the total lease expense. One example of this is utility payments related to leased locations and paid to outside utility companies. Our accounting team has developed a process to support this effort to ensure that:
- Financial obligations are met timely
- The appropriate segregation of duties and internal controls are employed
- Access to funds is controlled
- Bank accounts are segregated, monitored and reconciled regularly