This article will walk through how to create, review, and process a distribution including both notifying your investors and sending payments through InvestNext Payments.
Step 1: Navigate to the relevant Project and select Distributions.
Step 2: Click on New Distribution.
Step 3: Set-up your distribution according to the below fields:
Distribution plan: select the relevant pre-created Distribution Plan.
Date: select the date on which the distribution will be recorded.
Select the amount to distribute,
a. Pay down all hurdles: this will allocate the exact amount of funds needed to meet all hurdle requirements.
b. Distributable Amount: set a custom total dollar amount to distribute.
Optional - Name: add a custom name for the distribution.
Step 4 - Draft Status: Review the allocated amounts, broken down by each waterfall hurdle. Once reviewed, select Confirm Allocations which will create the distribution records.
Note: If you would like to manually adjust any allocations, simply double-click on the amount and enter the new value.
Step 5 - Confirmed: You will now see a single payment amount displayed for each investor, which is the sum of each hurdle's allocation. By scrolling to the right within the table, you can review the Payment Type as well as confirm whether the investor has a Linked ACH Account and Mailing Address. Once the payment amount and type have been confirmed, select Authorize Payments.
Note: an Authorize Payments option will appear, which will enable you to set a starting cheque number and optional memo to print on the cheques.
Step 6 - Authorized: Once the payments have been authorized, you complete a final review of the payments and optionally choose to send an automated message to your investors to notify them of the incoming payment by selecting Send Notifications. Then, select Send Payments.
Step 7 - Sending Payments: Complete the final confirmation steps, outlined below, to process payments.
Confirm the payment sources (pre-configured in project settings - how to).
Review the fee breakdown.
Enter your password.
Select Send Payments
Once sent, refer to these Articles to help with potential next steps/actions: