Pay your owners electronically
For owners who wish to receive their share of revenue electronically, set up their banking information.
When a distribution is finished and you've closed the revenue run, the ACH file needed to directly deposit the revenue into their account is created.
Simply transmit it to the bank and -- voila!
Money will appear in their account.
Set up your ach data
Before you can directly deposit revenue into your owners accounts, you must first set up your bank's information on the Preferences screen.
set up royalty and working interest owner's ach data
Each owner that would like to have their share of the revenue directly deposited into their account instead of having a check cut after each distribution, needs to have their individual bank's information set up on the owner information screen.
close a revenue run
The ACH file your bank needs to transmit the money to each owner will be automatically created when you close a revenue run.
On the Close a Revenue Run dialog box, you'll see an option to set the effective date for the direct deposit.
Transmit to your bank
Once a revenue run has been closed, you'll need to send the .ach file that was created to your bank.
*Check with your bank on what fees/charges and regulations they may have for processing ACH files. They will communicate their procedures on how to submit ACH files.*