When paying owners, is there a message that shows an amount of undeposited funds under the portfolio name?
Occasionally, when making a payment to the owners, you may notice a message/label beneath the portfolio indicating an amount of undeposited funds.
This indicates that a payment made by a tenant, owner, or other entity associated to a specific portfolio has not yet been recorded in the system as deposited or settled.
Please click the link below to see the article that shows you how to record a deposit in the system.
Note: This only applies if the payment was NOT an eCheck or Credit Card payment such as a check or money order. eCheck and Credit Card payments are automatically deposited as a Settlement. More information on Settlements at the end of this article.
Once the deposit for that specific check or money order payment is recorded in Rentvine, the amount of that payment will be deducted from the undeposited funds.
You can also view the undeposited funds amount of a specific portfolio on the ledger tab in the portfolio view page.
Undeposited Funds that are associated to an electronic payment (eCheck or Credit Card payments by tenants or owners).
If all your NON eCheck and Credit Card payments are recorded as deposited in the system and you continue to see the undeposited funds message/label in the pay owners screen, it signifies that there is payment(s) associated to that portfolio that was made electronically by eCheck or Credit Card. There's no need to take any manual action to resolve this, as the message/label will disappear automatically once the electronic payment settles in the bank account. Typically, eCheck or Credit Card payments take 1-2 business days to settle.
You can still pay your owners even though the undeposited funds message/label is showing. It is recommend to wait for the electronic payment(s) to settle in the bank account, because you can run the risk of those funds not being in the bank account. It is safer to wait until the payment(s) has settled in the bank account before paying owners