Creating an Owner Draw (Sending Owners Money)

Depending on your setup, you may also need to confirm or enter:

Draw transactions can only be created for individual owners, not companies. Checks are linked to the selected owner.

If you are issuing a physical check, set the payment method to Check. After submitting, Property Matrix may prompt you to print the check immediately or add it to the print queue.
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If you choose to send the payment directly to an owner's bank account, selecting Submit Draws will automatically process the transaction via Forte. You can configure the owner's bank account by following the Set or Add an Owner Payment Method article.
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Property Matrix can calculate available draw amounts based on owner transactions and ownership percentage in the company. If a draw reserve is set, that reserve keeps a minimum balance in the account and reduces the amount available to draw.

You can override or enter the desired draw amount before submitting.

Created owner draws appear under Companies > Transactions. Journal entries are also created in the selected bank and equity accounts.

For ACH draws, the transaction initially posts between the selected equity account and the Outgoing Electronic Payments account. When Forte settles the payment, Property Matrix adds the related deposit transaction between Outgoing Electronic Payments and the selected bank account.

If an ACH processing error occurs, an email notification is sent to the company’s main email address. The deposit transaction will not be created, and the original owner draw transaction will remain.

Use the Owner Draws report under Reports > Accounting as the source of truth for successfully processed owner draws.