VERO offers three ways for you to provide a snapshot of your income and assets as part of your leasing application. However, sometimes when using these methods, you may see that your income is unverified or is verified for a less amount than you expected. There are some common things that may lead to this that we'll explore below based on the income verification method you used.

Direct Link to Payroll, Employer, or Benefits Account(s):

If you are unable to connect to your accounts or connect one or several accounts through employer or payroll accounts in the Add Income step of your application, but are not seeing your income appear on your application summary, it may be due to the following:

• An issue connecting to your payroll account

• The connected account is only sharing partial data

How to Resolve: An issue linking to your payroll or employer account:

1. Confirm that you are using the correct credentials. You will receive an "invalid credentials" message if you are not using the expected login username, email, or password.
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2. Confirm that your account is fully activated with your employer or payroll provider.

   1. You may receive an "Account inactive", "No matching record found", "Your log in credentials have expired", or "Log in failed" error message.

   2. You will need to log directly into your employer or payroll provider to finish setting up your account.
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3. Confirm that your company or login method is supported.

   1. You may receive an "Error" message that states that your Company ID cannot be used with the selected login method, or a message that the MFA method is not supported. This means your company may not support a log in method that allows using this service.

   2. You can log in directly to your payroll or employer account and confirm if you are able to select an alternative login or MFA method. You may need to reach out to your Payroll or HR specialist for assistance.
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4. Log in directly to your payroll provider outside of VERO using your credentials and confirm that the credentials are correct, and any MFA requirements are working as expected.
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5. If you cannot get logged in directly, you may want to reset your password so that you can get logged in directly, and then within VERO.

How to Resolve: A linked account is sharing only partial income data:

1. Confirm that sufficient data is available to VERO to generate an income stream

   1. VERO must have enough data to see the amount and frequency of your payroll to share a verified income stream with a property.

   2. If you have not been with the company for more than 30 days with at least three pay periods, an income stream may not be able to be produced.

   3. If the most recent paystub in your employer or payroll account was logged longer than your normal pay frequency, VERO may not be able to produce a verified income stream.

2. Log in directly to your payroll or employer provider and confirm that the expected data is available to the account through that log in.
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3. If you have additional or separate payroll or employer accounts, you may need to log into them separately.
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4. If the accounts connected all seem correct, confirm with your HR or Payroll specialist whether they restrict the sharing of employment data.
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5. If you have received a change in pay rate within the last 12 months, this may affect the overall estimated yearly income that VERO is able to verify, sometimes resulting in a lower yearly income amount being displayed than what you currently make.

Direct Connection to Bank Account(s):

If you connected one or several bank accounts through the Add Accounts step of your application, but are not seeing your income appear on your application summary, or it is less than what was expected, it may be due to the following:

• You receive your income deposits from your employment across different accounts

• You receive your income in cash with no identifiable source on the deposits, or you receive your income deposits from a cash transfer app like CashApp or Venmo.

• You haven't received any income deposits in a recent period of time

How to Resolve: You receive your income deposits from your employment across different accounts

Make sure that you've connected all of the accounts in which you receive deposits in VERO. VERO can calculate the income stream across multiple accounts as long as the employer name on the deposit transaction name matches.

For example, if you distribute 90% of your paycheck to your checking account and 10% to savings, but only connect your checking account, VERO will only be able to verify 90% of your deposited income.

How to Resolve: You receive your income in cash with no identifiable source on the deposits, or you receive your income deposits from a cash transfer app like CashApp or Venmo

VERO currently cannot identify with confidence income streams based on cash or cash-like income through cash exchange apps like CashApp or Venmo, as they often lack the necessary employer identifies needed to group transactions together as a single source of income.

An alternative means of income verification, like a direct connection to a payroll account or uploaded tax documents, would be needed in this instance.

How to Resolve: You haven't received any income deposits in a recent period of time

In order to verify income from bank transactions, VERO needs to have enough data to identify both the source, the frequency, and the amounts to generate a verified income stream.

If your last payment from your employer wasn't recent enough within the pay frequency detected, then the income source will be seen as inactive. This may happen if you switched deposit accounts and the most recent deposit was made into a different account, or if you recently separated from that employer.

Uploaded Financial Documents:

If you uploaded Financial Documents to your application, but are not seeing your income appear on your application summary, or it is less than what was expected, it may be due to the following:

• Insufficient data to generate an income stream extracted from the financial documents

• There are not enough recent paystubs or bank statements uploaded

• The financial documents are still parsing, or there is an issue parsing data

• You haven't received any income in a recent amount of time based on the document type and pay frequency

How to Resolve: Insufficient data to generate an income stream

Depending on the financial documents used, VERO requires a minimum amount of data in order to generate verifiable income.

The only financial documents VERO can use to verify income are Paystubs, Bank Statements, or 1099s. If you have uploaded documents that are not these types, VERO will not be able to automatically generate verified income, but will still display the documents to the leasing team for income verification purposes.

Paystubs

In order for Paystubs to generate verified income, the most recent paystub must be uploaded, the pay periods must be contiguous with no gaps, the contiguous pay period must span at least 21 days, and there must be at least 3 paystubs within the last 90 days.

Bank Statements

In order to use Bank Statements to verify income, at least 2 bank statements must be uploaded, deposits must be from a payroll or benefits source, there must be at least 3 deposits shown, the period must span at least 30 days, and the deposits must be from the same bank account.

1099

If using a 1099 as your income verification document, the document must be from the previous tax year unless the month you are completing your application is January or February. If it is January or February, the 1099 from the previous 2 years will be accepted, as the most recent 1099 may not yet have been generated.

How to Resolve: The financial documents are still parsing, or there is an issue parsing data

If the financial documents are still parsing, you will be able to proceed with your application and submit it, but the verified income may not be populated.

Please give the parser a couple of hours to parse and process the data in your files. If any issues with the documents are discovered, like unsupported file types or the document was unable to be parsed, you will receive an email to prompt you to return to address any issues.

How to Resolve: You haven't received any income deposits in a recent period based on the document type and pay frequency

Depending on the document, it must be from a recent enough time period in order to be verified income.

1099: From the previous tax year, unless it is currently Jan or Feb, then the two previous tax years are accepted.
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Paystubs: Paystubs must span at least the last 90 days with no gaps. The most recent of the paystubs must be within the last 30 days. The most recent paystub must also be within the pay frequency range (i.e., you are paid every two weeks, and your most recent paystub is from 3 weeks ago)
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Bank Statements: Most recent transaction must span at least the last 30 days. At least 3 transactions must be found within the last 3 months and must all have the same names and for a similar amount.