How Undeposited Funds Works
When payments are recorded in Property Matrix, they first appear in the Undeposited Funds account. When you physically deposit those funds at the bank, you can record the deposit in Property Matrix and select the specific checks included in that batch.
This creates one bulk deposit transaction, matching the grouped deposit shown on your bank statement.
To view Undeposited Funds:
Click Accounting in the left navigation menu.
Click Accounts.
Select Undeposited Funds.
Skip Undeposited Funds
If you prefer to skip this step, incoming payments can be deposited directly into your operating account.
When this setting is enabled:
Incoming payments appear directly in the operating account.
Payments bypass the Undeposited Funds process.
Property Matrix will not track grouped deposits because deposits are not manually recorded.
Turn On Direct Deposit to Operating Account
Click your profile menu.
Select Settings.
Click General Settings.
In the accounting settings section, click the edit icon.
Check Deposit payments directly to skip undeposited funds.
Check the agreement box.
Sign the acknowledgement.
Click Apply.
ProPay Transactions
This setting does not affect ProPay transactions. ProPay transactions always reflect actual bank activity by first appearing in Undeposited Electronic Funds.
Once ProPay processes the funds into your bank account, Property Matrix automatically creates the related deposits.
For more information, see Depositing Funds.