See Also Printing Invoice Checks
When paying invoices, the available funds are determined by taking the Available Cash in the ledger and subtracting any base reserve amount set in the owner or property profile.
Owner Has Sufficient Funds
All invoices will be paid if sufficient funds are available in the owner ledger.
Owner Doesn’t Have Sufficient Funds
The pay-off sequence is highest priority, oldest due date first. Pay-off continues until there isn’t enough money to pay the next in line to be paid. If there are any remaining invoices with the same priority and due date as the one that can’t be paid in full, it will pay off any it can with the funds available. The invoices that couldn’t be paid will all be marked skipped. You have the option to change the amounts to be paid, unskip and skip as desired to use the available funds.
Partial payments are permitted. Any amounts unpaid after posting will be eligible for payment in the next invoice check processing.
Paying Invoice when the owner ledger has insufficient funds
To draw an owner or property ledger balance below $0 when paying invoices, the Minimum Base Reserve in the ledger must be set to a negative amount and the Minimum Base Reserve in Setup, Processing Defaults must be set to a negative amount.
NOTE: For fee-based managers this constitutes co-mingling funds since one ledger’s funds (in the bank) are being used to pay another ledger’s bills. This is a serious violation in most states.
Although by setting the above parameters an owner ledger can be drawn below $0, the bank account balance cannot.
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