Propertyware Knowledge Base

Once you enable ePayments within your Propertyware account, you can pay your owner’s electronically as opposed to issuing paper checks.

Warning #1!

Note that if you have destination accounts set on your ePayment Settings to transfer funds from one bank account to another when ePayments are made, you will not be able to issue an eCheck owner draw, because the funds will not be available within the Bank Account you have configured within your ePayment Settings.

To pay owner draws via eChecks (ACH):

1. Click the Contacts Tab.
2. Select the Owner you want to pay via echecks (ACH)
3. Click the ePayment/Bank Info subtab at the bottom of the page.
4. Click the Edit ePayment Information button.  Complete the following fields:

5. Field Name	Description
   Account Type	Select the eCheck / ACH option
   Bank Name	Enter the name of the bank account for which the owner draws should be electronically credited
   Routing Number	Enter the routing number for the owner’s bank account
   Account Number	Enter the account number for your owner’s bank account.  IMPORTANT:  The account number will be required even if you are editing existing ePayment information.
   Social Security #	Enter the owner’s social security number
   Drivers License #	Enter the owner’s drivers license #
   Drivers License State	Enter the state the owner’s drivers license was issued

6. Once your ePayment Info is complete, click Save.
7. Click the Management Tab.
8. Click the Summary button on the Sub-NavigationBar.
9. From the Portfolio drop down menu, select the Portfolio for which you wish to record an Owner Draw.
10. Click the Owner Ledger subtab
11. Click the New Owner Draw button.
12. A pop-up window named New Owner Draw will display, prompting you to enter the following information: 

    Field Name	Description
    Owner	Select the owner to whom you would like to issue an owner draw from the dropdown menu
    Payment Date	Enter the payment date of the owner draw
    Payment Method	Select the Epay payment method
    Payment Account	The account will default to the Bank Account configured to work with your ePayments module. These settings can be modified from Setup | ePayments Settings.
    Amount	Enter the amount of the Owner Draw
    Comments	Enter any comments to describe the Owner Draw

13. Click Save.
14. The new OwnerDraw will be listed in the Owner Ledger on the Management Summary page.

Warning #2!

Unlike an ACH debit, once an owner draw has been issued, it cannot be cancelled or voided. If you need to cancel or void an ACH credit, you should contact your bank.

The typical timeframe to issue an ACH credit to an owner’s bank account will take anywhere from 24hrs to 5 business days. This timeframe depends on how your ePayments account was initially configured. If you have any questions regarding the timeliness of ACH credits, please contact billing@propertyware.com.