To make this process easier Rex Property Management has a disbursements feature to distribute the funds held to the correct recipients as determined by the receipts entered.
Disbursements can be found under Financials > Disbursements.
Ownership Disbursements
The view you see first is your ownerships which are due to disbursement which show based on the disbursement preferences you have set for the owner.
You can see more information on this in the below help article:
Contact Disbursement
Contact Disbursements is where you can disburse yourself along with any suppliers that require disbursing.
Your disbursement and other contact disbursements will show based on the Disbursement Preferences set for the contact.
You can see more information in the help article below.
What you can see in a Disbursement
A disbursement will show you all the funds available for the owner along with any bills that will be paid with the disbursement.
Dashboard
You will see a quick overview of the funds in the top bar which includes:
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Available Trust Balance - the total value held in trust for the ownership
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Bills & Fees Payable - current bills to be paid by the ownership
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Included specific payment invoices - total value of invoices to be paid by a specific payment option other than the normal disbursement preferences
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Withheld funds - any funds to be withheld during this disbursement
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Payout amount - total funds to be paid out during the disbursement
Overview
You can view in the overdue tab the due date and past disbursement date along with the ownerships disbursement preferences.
Bills & Fees Payable
Under the Bills & Fees Payable Tab you will see all the bills and fees to be paid during the disbursement.
This will include invoices payable by the standard disbursement and invoices where a specific payment type has been selected.
Trust Journal Entries
Your Trust Journal Entries Tab will show you a preview of the Trust Journal Entries that will occur with this disbursement.
I.e the transfers and/or withdrawal transactions that will show.
Standard & Specific Invoice Payouts
These Tabs will show you a breakdown of the invoices to be paid during this disbursement by the payment option selected.
Action your Disbursement
Once you're are happy with the funds showing to be paid to invoices and paid out to the owner you can select Disburse Now.
This will process the transfers and withdrawal transactions that were noted in the disbursement.
Please Note: This does not Withdraw the funds from Rex Property Management, you will need to complete this using the steps included here - Withdrawals
If this isn't actioned the funds will continue to show as held in Trust.