This guide explains how to identify when an owner draw has settled and where to find the exact settlement date.
Identifying Settlement Status in Property Matrix
Owner draw transactions processed through Forte can be tracked on both the Transactions tab and the Accounts page. The settlement status is displayed at the end of each transaction’s description:
Pending Settlement: If an owner draw is still being processed, it will show as
Owner Draw [Pending Settlement].Settled: Once the draw has cleared, the transaction will be updated to
Owner Draw [Settled MM/DD/YYYY], with the actual settlement date provided.Non-Forte Transactions: Owner draws not processed via Forte will appear simply as
Owner Draw, without any settlement status.
How Owner Draws Settle Through Forte ACH
When you process an owner draw via ACH using Forte, the system initially records the transaction as a transfer from your selected equity account to the "Outgoing Electronic Payments" liability account. Once Forte completes the settlement, a Deposit transaction is automatically created, moving the funds from "Outgoing Electronic Payments" to your designated bank account.
What Happens If There’s a Processing Error
In the event of a processing error—such as incorrect account information—the system handles it as follows:
An email notification is sent to your company’s primary email address, as listed in your settings.
The Deposit transaction is not created.
The original owner draw transaction (from equity to Outgoing Electronic Payments) remains in your records for your review.
Summary
To confirm whether an owner draw has settled, review the transaction description in either the Transactions tab or the Accounts page. The status will indicate if the draw is pending, settled (with the exact date), or not processed through Forte. For any processing errors, you will be notified by email and can review the transaction within your account.