Glossary

Plain-English definitions of the terms you meet in Wealtharu. You will see these words underlined with dots in the app. Tap one to read its meaning right where it appears.

This is tooling, not legal or tax advice. For anything important, confirm with a lawyer or accountant.

ACSS: Automated Clearing Settlement System, the Canadian bank network that moves pre-authorized debit payments. It is the rail behind paying rent straight from a bank account.
Arrears: Rent that is past due and still owed. Zero means everyone is paid up.
CASL: Canada's anti-spam law. You need a tenant's consent before sending marketing email or texts. Rent reminders and receipts are fine without it.
Dunning: The polite, automatic sequence of reminders sent when rent is late, before any further step. You set how many reminders go out and when.
ITC: Input Tax Credit, the GST or HST you can claim back on eligible expenses if you are registered. This is tooling, not tax advice, so confirm with an accountant.
NSF: Non-Sufficient Funds, a payment that bounced because the bank account did not have enough money. The rent goes back to owing and you may be able to charge a fee.
PAD: Pre-Authorized Debit, a way for tenants to pay rent automatically from their bank account each month, so you are not chasing payments.
Proration: Charging only part of a full month of rent when a tenant moves in or out partway through. The amount is scaled to the days they actually have the place.
T776: The Canada Revenue Agency form for reporting rental income at tax time. Wealtharu groups your numbers to its lines for you.