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In property management, ensuring timely and accurate payments to owners is essential, yet the process can become complex due to multiple properties, varying payment structures, and the need for proper trust accounting. Property managers often struggle with managing bulk owner payments, creating efficient workflows, and ensuring that all owner-related transactions are properly recorded.

Clearing addresses these challenges with its integrated trust accounting software, designed to streamline the payment process by allowing direct payments from the owner statements section. This article focuses specifically on how to use Clearing's payment mechanisms directly from the saved owner statements.

Note: If you’re looking for information on how to create owner statements, click here.

Clearing provides property managers with a streamlined solution for making direct payments from owner statements. By offering seamless payment workflows, Clearing simplifies owner statement management while ensuring compliance with trust accounting standards. Property managers can efficiently process ACH payments directly from completed owner statements, whether handling them individually or using bulk owner payments. With customized owner payment methods and flexible owner payment options, Clearing allows payments to be made directly to owners bank accounts using ACH transactions. This provides a reliable and scalable approach to managing multiple owners and properties. The platform’s integrated trust accounting software ensures smooth and accurate payment processing, making it an ideal property management owner payment solution for efficient and transparent owner statement payments.

Log into your Clearing account and navigate to the "Statements" section from left hand menu, then click on the “Owner statements” option, where you can manage all owner statements.

Once you're in the owner statements section, Clearing offers three primary methods for creating owner statements:

Once the statement is created, owner payments can be sent efficiently using any of these methods of statement creation.

This method is used when you are building a single owner statement for all property assets owned by the selected homeowner.

Go to “By owner” tab and from the list of homeowners, choose the owner you wish to create an owner statement for. This will bring up the associated owner’s statements during the date range specified.

After choosing the owner, select the specific statement for which you want to make an owner payment. You can select multiple statements if necessary. If it hasn’t been saved yet, it will not show up in this list so be sure to finalize the statement and save it first.

Once selected, click on “Actions on statement”, and then choose “Pay this selection". This will bring you to a payment form similar to the one shown in this knowledge article.

In the payment form, review the pre-filled amount from the statement.

Select your source account, which can be either an external bank account or the master balance account within the software.

Choose the destination account for the payment, which will be the owner’s bank account (you can store owners payment accounts as recipients).

Optionally, you can add a memo to specify additional details about the payment.

If the owner has a single property on their statement, you can tie the payment to a specific asset. However, if you do not want to specify an asset, simply proceed with the direct payment to the owner. If the statement has many assets, there is likely no need to assign the payment to one of the many assets.

In category, choose the relevant category that you will use for owner transfers. You can also mark it as a “payment to owner”.

After entering all the details, click on the “Review & Confirm” button at the bottom right side of the payment form. Once the details have been reviewed, click “Confirm” to initiate the payment using an ACH transaction.

If you wish to add another transaction, such as paying multiple vendors or another owner, you can click on the “Add another transaction” button to initiate an additional payment.

If a new recipient needs to be added, click on “Create a new recipient” button on the top right of the payment form. Once clicked, provide the account number and routing number, along with the other necessary owner information for the new recipient.

This method helps manage payments for multiple owners in a single step.

Go to the “All owners” tab and use the filter options to select multiple owners based on property, date range, or other criteria. If you have not created the owner statements yet, you can create them for all owners (or selected owners) over any date range. Click the “Create” button and select the relevant owners and complete the process. It is recommended that the date range, that the statements are being created for, has already been reconciled within the “Transactions” tab.

After selecting relevant statements that have been created for the selected owners, review the statement by pressing “Open” and confirm no changes are needed. When confirmed, and ready to make a mass payment for all relevant owner statements, click the "Pay" button.

Like with individual payments, the payment form will be pre-filled with the generated amounts based on the final confirmed statements. Choose the source account and destination accounts for each owner, as done previously.

After entering all the details, click on the “Review & confirm” button.

Once the details have been reviewed, click “Confirm” to initiate the ACH payments for all the selected owner statements.

This method will allow you to pay for a single asset’s owner statement (or group of assets as defined by the property manager). This method is to be used if your owner prefers to have their statements broken down into one asset per owner statement (or as defined by the owner’s preference for multiple assets per statement).

Go to the “By asset” tab and choose both the owner and the associated asset (or multi-selected group of assets) for which the owner statement and payment will be created.

After choosing the owner and associated asset (or multi-selected group of assets), select the specific statement (or group of statements) for which you want to make a payment. The saved statements can be found in the left panel where all the saved statements live.

Once selected, click on “Actions on statements”, and then choose “Pay this selection”. This will bring you to a payment form.

Like in the other methods, choose the source and destination accounts, add memos or additional details, and review and confirm the payment.

Take full advantage of Clearing by streamlining your owner payment process. With Clearing's direct ACH payments from saved owner statements, you can easily manage payments to owners with just a few clicks, ensuring timely and accurate transactions. Whether you’re handling payments for a single owner, multiple owners, or specific assets, Clearing’s seamless payment workflows and flexible owner payment options make the process efficient and straightforward.

Ready to simplify your owner payments with Clearing?

Connect with us today for a personalized demo, and discover how to pay owners directly from statements with Clearing.

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Clearing is a Financial Technology Company, not a bank.