- In Rex PM, a withdrawal is how you move money out of your client account — usually to pay landlords, suppliers, or tenants. It's the opposite of receipting funds, which records money coming into your account.
- Withdrawals ensure that funds held in the client account are distributed to the right people — accurately, securely, and in line with client accounting rules.
- Think of it like paying your electricity bill or transferring money to a friend — funds leave your account to cover what's owed. The same thing happens in Rex PM, except the payment is tracked and recorded to maintain compliance and provide a clear audit trail.
What Processing Withdrawals Means
- Processing a withdrawal finalises the movement of funds from your client account to their intended destination. It ensures the payment is correctly recorded in Rex PM and reflected across your ledgers, reports, and reconciliation.
- You might process a withdrawal when:
- Paying a landlord their rent income.
- Refunding a tenant's security deposit or overpayment.
- Paying a supplier for maintenance or services.
- Making a one-off client account payment outside a disbursement cycle.
How to Process Withdrawals in Rex PM
Go to Financials
Select Withdrawals
-
Select the type of Withdrawal you would like to action
EFT
BPay or;
Cheque
Select the transactions you would like to include in your Bank Withdrawal
Click Create Bank Withdrawal
Select your Withdrawal Date and other required details
Click Create Bank Withdrawal
You can view your previous Withdrawals under the Previous Withdrawal Tab.