Residents have made the payment but we are unable to see it in our bank statement?

Residents can make online payments for their maintenance fees or other charges through the mygate application. Once the payment is made, the amount will be credited to the society's bank account. The society admin can then download the collection report and reconcile the transaction with the bank account.

1. As per the process the amount will get credit to the society bank accounts in T+1 days. We use payment gateway aggregators for payment collection, the amount paid today will come to our intermediary special current account on a T+1 basis and in a couple of hours it will be transferred to the society account. 

2. If a resident initiates a payment, but the amount is deducted and the payment remains incomplete, the transaction will not show up in the bank statement. In such cases, the payment will be automatically refunded to the resident's bank account within 5 to 7 working days.

3. If a resident makes a payment through the Society Charges module in the mygate application, the transaction will not appear in the MyGate collection report for reconciliation. In such cases, the society admin can download the Society Charges report from the admin dashboard and reconcile the transaction using the bank statement.

4. If residents make payments outside the mygate system, such as via EFT, cheque, or cash, these payments will not be directly visible in mygate. In such cases, once the payment is received, the society admin can manually create a receipt with all relevant details, including the reference number and payment information. Once these outside payments are recorded in mygate, then the balance will match, and you can perform the bank reconciliation