The Groundbreaker Platform makes it easy to make and track your distribution payments. Once you create a distribution and finalize the distribution payment amounts, you can move forward with the actual payments.
NOTE: You must be a team member with ADMIN rights in order to create payments.
To create payments for a distribution:
=> Select Menu from the Home Dashboard.
=> Select Investment Entities
=> Click on the Investment Entity making the distribution
=> Click on Distributions
=> Select the Published distribution transaction you are ready to pay on
View the Payments
This page has two sections and provides all the details for the distribution and the payments to be made.
The first section shows general information about the distribution - Name, date, and cash flow types
The second section shows payments for each Investor Account - Name, distribution method, status, date, and the payment amount
Manage Wire and Check Payments
When distribution payments are made outside of the Groundbreaker platform - wire and check payments - you can mark them as paid. You can mark individual payments as paid when you click on the three vertical dots on the far right of the payment and then click Mark as paid.
You can also select a group of payments to mark as paid. Click the box next to each payment you want to mark as paid and click Mark as paid.
The confirmation screen allows you to identify the payment date.
Whether you marked them in bulk or one at a time, the status of the payments changes to Paid with the payment date you provided.
Manage ACH Payments
When making payments by ACH, you should select the payments that you want to initiate through our payment partner, Dwolla. Keep in mind:
The maximum amount for ACH direct deposits is $250,000.00
ACH currently supports U.S. Bank Accounts only
U.S. law and KYC/AML compliance requires verification of all users who are funding through electronic transactions - that includes you and your investors - which can take up to three business days
ACH transactions generally take 3-5 business days to complete
Once you click each ACH payment, click on Make ACH payment.
The confirmation screen shows the total for the payments you are initiating, asks for a description that may appear on the investor's bank statement, and requires that you accept Dwolla's terms of service. Once you complete the required fields, you can click on Send payments.
Payments made via ACH may take 3-5 days to complete. The status of the payment will remain In transit until it is paid. You have until 4pm CT if you need to cancel the transaction.
If you have more questions or feedback, please use the live chat in-app (located in the bottom right corner) or contact firstname.lastname@example.org.