Managing Payment Methods

Managing Payment Methods

Latch supports recording payments received through various methods.

Available Methods

• Bank Transfer — Direct bank transfer or BACS payment.
• Standing Order — Recurring automatic bank payment.
• Direct Debit — Automated collection from tenant's account.
• Cash — Physical cash payments.
• Cheque — Paper cheque payments.
• Card Payment — Debit or credit card.
• Other — Any other payment method.

Recording by Method

When recording a payment, select the appropriate method from the dropdown. This information is stored for your records and appears in reports.

Payment Method Reports

You can filter payment reports by method to see:

• How much rent was collected via each method.
• Which tenants use which payment methods.

Recommending Methods to Tenants

We recommend encouraging tenants to set up standing orders as this provides:

• Automatic monthly payments.
• Consistent timing.
• Easy reconciliation with bank imports.

Tip: Standing orders are the easiest payment method to track and reconcile because they arrive on the same day each month with consistent descriptions.