Sometimes, the pool owner withholds some payment amount from the Pooling Distribution period and recovers it in future distribution periods. The Pooling module enables a workflow to settle this. To withhold and then recover a payment to an owner, follow these steps.
1. Set Up the Amount to Withhold from a Distribution Period
For example, to withhold 5% of the total payable to the pool Participant SEATIDE MARITIME from the distribution period Jan 2017:
When running the Pooling Distribution for Jan 2017, in the Pooling Result Distribution grid, either enter 5% in the Withhold% column or enter the corresponding dollar amount in the Withhold column. The withheld amount is then deducted from the payment. To check the withheld amount, right-click the line and then click View Payment Details.
Note: Eff Start Date and Eff End Date fields have been added to the Pooling Distribution form.
2. Recover the Withheld Amount in a Future Distribution Period
To recover the withheld amount for the pool Participant SEATIDE MARITIME from the distribution period Feb 2017:
- Run the Pooling Distribution from Feb 2017.
- In the Pooling Result Distribution grid, right-click the SEATIDE MARITIME line and then click View Payment Details.
The previously withheld amount appears under Withhold Recovery.
- In the Withhold Recovery grid, select the S check box to select withheld amounts from previous periods to recover in this distribution period.