What are Powersite Transfers?
The email you send to the Cambridge AMSI account (amsi@cambridgeres.com) which indicates how much rent you have collected and deposited at the bank
When Should they be Processed?
Powersite transfers are due every Tuesday by the end of the day and are very important for your accountant to determine which invoices your property can afford to pay.
Why is a timely transfer important?
As a rule of thumb, accountants do not use any funds that you deposit until they actually show up on the books which only happens by your Powersite transfer being completed. While it is always important that this transfer be done in a timely manner, it is extremely important those first couple weeks of the month. This is when mortgages are being deducted from property bank accounts and an accurate understanding of the property’s finances is imperative. Accountants need to be sure the mortgage is covered and know what remaining funds are available for utilities and other payables. Processing and emailing your Powersite transfer late can result in your vendors having to wait additional time to be paid.
The Details…
When you are sending your weekly email to the AMSI mailbox please be sure it is labeled as indicated below:
_____________________
TO: amsi@cambridgeres.com
SUBJECT: Your Property Code, WEEKLY POWERSITE TRANSFER, Date MM/DD/YYYY
ATTACHMENT: batch.gls, aspront.dat (if applicable)
BODY OF EMAIL: Include the amount transferred – if you have multiple properties, please list out the amounts next to their property code
_____________________
Month End Powersite Transmittal
This transfer which occurs on the 3rd Tuesday of every month should be labeled slightly differently. See below:
_____________________
TO: amsi@cambridgeres.com
SUBJECT: Your Property Code, MONTH-END POWERSITE TRANSFER, Date MM/DD/YYYY
ATTACHMENT: batch.gls, apsdat.dat, packedps.zip, aspront.dat (if applicable)
BODY OF EMAIL: Include the amount transferred – if you have multiple properties, please list out the amounts next to their property code
_____________________
Thank you for your attention to this very important process! Click here for more detailed information about the Powersite Weekly Transfer
If you need any assistance with the transfer process or have any questions please contact your AMSI Peer Trainer.