Withhold Owner Funds

  • Updated

For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.

To withhold funds on an owner ledger, you will be accessing the Client/Trust Account section and making adjustments directly from the Owner Ledger Balance. Here are the steps:

  1. Select Client/Trust Accounts from the menu.
  2. Navigate to Owner Ledger Balance.
  3. Use Search Ledgers to find a ledger by entering the name, then click Go, or simply locate the ledger manually.
  4. Select the desired ledger to open it.
  5. Click Withheld Amount to begin the withholding process.

Copy of HelpCentre_Desktop Landscape_Video (25).gif

Setting Withhold Amounts

In the Withhold Amount configuration:

  1. Enter the amount you wish to withhold in the Withhold Amount field.
  2. If you also wish to withhold fee payments, click on Withhold fee payments.
  3. Specify a date in the Withhold Until field if you wish to set a release date. If the date is left blank, the withhold will remain indefinitely.
  4. Enter a reason for the withholding for internal record-keeping; this will not be visible on the owner statement.
  5. Click Save to confirm the withhold action.

Copy of HelpCentre_Desktop Landscape_Video (26).gif


Managing Multiple Withhold Amounts

For multiple withhold amounts:

  1. Access the Withheld Amount section to view any current withheld funds.
  2. To modify an amount, click Edit.
  3. To remove a withhold, select Archive.
  4. To add another withholding, choose Add New.
  5. Select Delete All to clear all withholdings.
  6. Return to the Client/Trust Account Ledgers by selecting Close.


Notes on Withholding Funds

It's important to note that withholding funds can be done at any time, even during the disbursement processing. This flexibility ensures you have full control over the financial management of your Client/Trust Account.

Was this article helpful?