How to create a payment distribution

Released in version: 5.46

 Before you can create a payment distribution, you must first add a beneficiary to a trust or foundation. See how to add a beneficiary to a trust or foundation for further information.

Create payment distribution

The Create payment distribution tool can be used to create a distribution to one or more beneficiaries of a trust or foundation.

1. Click Client administration > Tasks > Setup > Create payment distribution.
   
   
   
   
2. In Client, select the client you would like to work with.
3. Select a Currency. Based on the selected currency, the Pay from account field will populate. Select the appropriate account. 
4. In Distribution type, select the corresponding option that applies to the beneficiary you wish to pay.
   
    The beneficiaries list will populate. It will include the entitlement for income portion. The list displays the percent allocated per beneficiary in the percent allocated box. This amount must equal 100. In the event that the beneficiaries do not add up to 100, you can go back and use the Update beneficiary entitlement tool to ensure that.
   
   
5. Based on what you selected on the previous section, click either the Percentage amount checkbox or the Fixed amount checkbox. If you select an option that was not used before, an error message will display.
6. In Amount, modify the amount as you see fit.
   
    Under Amount, you can also click the Fixed amount checkbox, which will default and populate the amount.
   
   
7. In Use ledger, select the ledger you would like to use.
   
    If you have a non-compliant beneficiary, the form will not allow you to submit the distribution. To ensure that the beneficiary is compliant, on the client'sProperties, click the Relationships tab > Beneficiaries and ensure that all fields have been approved.
   
   
8. When complete, click Submit.
9. Click Client administration > Lists > Unposted transactions. The payment distribution form will generate a Make payment transaction for each beneficiary involved on the form.
10. Under Waiting for approval, locate and right-click each Make payment transaction and Approve them as you see fit.
    
     Payment will only process is there is sufficient funds in the account.

To verify the changes

1. Click Client administration > Lists > Clients.
2. Locate and double-click the client you were working with.
   
    You may also right-click the client and select Properties.
   
   
3. Click the Assets tab > Accounts.
4. Locate and right-click the account you would like to verify and select Client transactions. A list of the transactions completed will display and you can verify the details of the Make payment transactions you processed.

See also

How to add a beneficiary to a trust or foundation

How to add or modify a beneficiary entitlement