To send money to an owner, you can either print a check or send the funds via ACH. Follow these steps:
Navigate to Accounting > Companies.
Click on the blue three-dot menu near the top-left corner and select Draws from the dropdown.
Next, select each owner you want to pay by checking the box next to their name. You can then enter:
Date: The date of the draw.
Bank Account: Select the bank account the payment will be drawn from.
Equity Account: Select the equity account affected by this draw.
Check Number: Enter the check number if applicable.
Memo: Add any additional notes or details about the transaction.
Note that draw transactions can only be created for individual owners, not for companies. Checks will be linked exclusively to the selected owners, not to the company itself.
If you are issuing a physical check, make sure to set the payment method to Check.
If you choose to send the payment directly to an owner's bank account, selecting Save 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.
Please ensure your Forte account is properly configured for owner disbursements by contacting Property Matrix support.
Payments processed through Forte typically take 3-5 business days to transfer to the owner's bank account.
Property Matrix automatically calculates the draw amount based on the owner's transactions and their ownership percentage in the company. You can set a draw reserve to maintain a minimum balance in the account. Enter the desired draw amount in the field provided on the far right.
When all payment methods and amounts are confirmed, click Submit Draws. Please wait as the system processes the draws—it will redirect you back to the Companies tab automatically. If check printing is enabled and at least one payment method is set as Check, a pop-up will prompt you either to print the checks immediately or add them to the print queue.
Once created, owner draws will appear as transactions under Accounting > Companies > Transactions. Additionally, corresponding journal entries will appear in both the bank and equity accounts set during the draw setup.
When you process an owner draw using the ACH payment method via Forte, it will initially appear as a transaction between the selected equity account and the Outgoing Electronic Payments account. When Forte settles the transaction, a Deposit transaction will be automatically added between the Outgoing Electronic Payments account and the chosen bank account.
If an error occurs during the transaction processing, an email notification will be sent to your company's main email address. In such cases, the Deposit transaction will not be created, and the original owner draw transaction will remain.