Pay Owner Disbursements (owner distributions)

As a property manager, you manage properties on behalf of owners. Paying those owners the proceeds from these properties is easy with Rentec Direct's owner payment wizard.

Set Payment Preference for Each Owner

In your Rentec Direct account:

  1. Click on the Accounts tab.  
  2. Right-click on the owner and choose Edit Owner.  
  3. Scroll to the Payment Info section and complete the payment preferences for this owner.  

    Owner Payment Settings

    If you pay this owner by check, you will select either Check or Print Check.  Check is the option to use if you handwrite or print your own checks using different software.  Print Check is the option to select if you use Rentec Direct to directly print checks from the software

    If you are set up for ACH, you can automatically ACH the funds to the owner's bank account. To do this, select the ACH Checking option. Choose the ACH enabled account that you want the funds to come from in the "From account". 

    Information to pay owners electronically (ACH) can be found here: Merchant Account Setup Part 1

    System Note: If you are unable to select ACH Checking as the Payment Method, you will need to go to the Settings tab and select Setup EasyPay and choose a Default Incoming Account and a Default Outgoing Account. 

  4. Next, fill in your owner's bank routing and account numbers below (you get these from a voided check they can supply you).     
  5. Click the Save Changes button when finished. 
  6. Do this for each owner you want to disburse funds to using the wizard.  

Paying Owners (Owner Disbursement) 

Now that the settings are complete, you will be able to use the Pay Owner Wizard tool to quickly pay one or multiple owners at once.

In your Rentec Direct account: 

  1. Click on the Accounts tab.
  2. Click the Pay All Owners button on the left column.
  3. You will now be presented with all owners configured for payments. 

    pay owner wizard
  4. From here, select the owner(s) you want to pay by clicking on the box to the left of their name.

    This will increase the Total Payments value on the bottom. The default method of payment will already be selected, but you can modify that here. You can also modify the total owed for any property by expanding the property list (by clicking the blue arrow to the right of their name), and modifying the amount on the far right column (highlighted in yellow above).

    Tip: If you'd rather, you can navigate to selectively pay owners one at a time by right-clicking on owner and choose Pay Owner.  Additionally,Or you can pay all owners associated with a specific From bank account by right-clicking on the bank account and choosing Pay Owners there. Both options take you to the Pay Owner Wizard but offer only the owner(s) associated
  5. Once you have confirmed the amounts and payment methods, you can either Save Draft to come back and complete it later, or Submit Payments.  

    All Print Check and Check payments will post to the applicable Account within 30 seconds.

    All ACH payments will be processed within the following 60 seconds and be transmitted to the owners and entered as such on the property, bank account, and owner ledgers. 

    System Advice: Deleting an ACH transaction does not stop or reverse the payment. If you have inadvertently processed an ACH transaction contact Forte as soon as possible. 

Owner Payment Wizard Reports

Whether you have selected Pay All Owners or Pay Owner from a menu, all transactions using the wizard will be noted in the Owner Payment Wizard report.  

In your Rentec Direct account: 

  1. Click the Reports tab.
  2. Click on Financial Reports
  3. Choose the Date Range for the reporting details.
  4. Click on Owner Payments Wizard report in the Online Payments section. The report will indicate all payments made to owners based on your date selection. 

    Note: All reports have the option to save, email, and/or download in the upper right corner of the report. 
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