Steps to Complete a Disbursement
To complete a disbursement (payment run) in Re-Leased, follow these steps:
Keeping in mind that you will only need to select what's relevant based on the disbursement profile you have chosen.
Select a Disbursement Profile: Navigate to the Client/Trust Accounts section and click on "Disburse Funds." Choose a disbursement profile, set the expense date range, select a statement date, and then click "Save and Continue."
Select Owners: Choose the owners to include in the disbursement. Skip any owners with no activity since the last disbursement.
Disburse to Creditors: Review the listed expense invoices. Adjust amounts if necessary and select which invoices to pay. Note that invoices will not auto-select if there are insufficient funds.
Disburse Fees: Review and include any management fees for the selected owners.
Disburse to Owners: Allocate the remaining funds to owners and make any final adjustments.
Summary & Bank File: Review the summary and download the ABA bank file to finalize the disbursement. Important: Once the bank file is downloaded, the disbursement is finalized and cannot be reversed, so review carefully before completing this step.
Troubleshooting Missing EFT Records
After completing a disbursement and downloading the ABA file, the outgoing EFT payment records should appear on the right side of the bank reconciliation screen. If they do not, check the following:
Ensure the disbursement was fully completed and the bank file was downloaded.
Verify the specific disbursement (e.g., by date or profile) you expect to match.
Confirm that the ABA bank statement was imported into the correct trust/client account. Alternatively, check if the bank transaction was entered manually.
Bank Reconciliation After Creditor Disbursements
When invoices are included in a creditor disbursement, payments are drawn from their respective ledgers. On your next bank statement import, the spent amounts will appear, allowing you to reconcile them to the disbursement in Re-Leased. By following these steps and troubleshooting tips, you can efficiently manage disbursements and ensure accurate bank reconciliation in Re-Leased.