To initiate a reserve release, please follow these steps:
Step 1: In the left-hand menu, select "Reserve Releases" located at the bottom. Once redirected to the Reserve Releases page, you will have the opportunity to create individual reserve releases for each client. To proceed, click the "Create Reserve Release" button in the upper-right corner of the page.
Step 2. A side panel will appear on the right side of the screen. To create a reserve release, please complete the three mandatory fields: Client, Amount, and Fee. Additionally, there is an optional notes section available for any additional information you wish to include.
Step 3. Click Create at the bottom. This will add the reserve release in pending to then be approved for funding.
Prior to being approved for funding, you are able to make changes to any reserve release. You can edit the client, amount, fee, and notes. You can do this by clicking on the "Code" listed next to the desired release. This will bring you into the details where you can edit each section as needed. Make sure to click update to save all changes.
Step 4. The release needs to be approved for funding before you can finalize the funding to your client. The process for this is very similar for approving invoices for funding. Select the desired reserve release and additional options will appear, Delete Reserve Release, Move to Rejected, and Approve for Funding. Click Approve for Funding.
Once you click Approve for Funding, a window will slide out from the right side of the screen to confirm this approval. You can choose the funding method (ACH, Wire etc) depending on the different funding instructions your client has set up in their client profile. You can also choose to zero out the payment fee if necessary. Click Approved for Funding at the bottom and confirm this action when prompted.
Step 5. Now that the reserve release has been approved for funded, you can finalize this on the Funding page found on the left side menu bar. Select the desired batches to be funded and click Fund Selected as shown below. This will finalize the transactions, and you can no longer make any changes.