Understanding owner account balances

Every owner account has its own balance, kept separate from every other owner and from your own funds. The balance is the sum of every transaction on the owner’s ledger: transfers in, collections and payouts out, and any reserves or adjustments. Because the balance is derived from the ledger, you can always trace where every penny came from. To view an owner’s balance, navigate to the owner and find the Balance section.

​

Balance breakdown

The Balance section shows the balance split into four parts: The Total is the sum of all four.

​

When funds become available

When a tenant’s payment is transferred to an owner, the funds appear in the owner’s Pending balance first. They move to Available two business days later, once the original payment has settled. This protects you from paying an owner for a payment that later fails. Funds are available immediately when they do not depend on a payment settling:

• Invoices marked as paid outside Yorlet, or paid by direct transfer.
• Funds you send to an owner manually.
• Adjustments, collection refunds and released reserves.

Once funds are available they are paid out according to the owner’s payout schedule.

​

Balance activity

Below the balance breakdown, the Balance section has tabs for each kind of activity:

• Transactions: every balance transaction on the ledger, with its type, amount, and the date it becomes available.
• Payouts: the owner’s payouts.
• Payments: owner payments that credited the balance, usually from transfers.
• Collections payable: collections charged to this owner.
• Collections receivable: collections from other owners where this owner is the destination.
• Reserves: funds held in reserve.
• Arrears: unpaid invoices on the owner’s units.
• Transfers: transfers made to this owner.

To download the activity as a spreadsheet, click the overflow menu (•••) on the Balance section and select Export.

​

Hide a transaction from the owner

Every transaction is shown to the owner on their payout receipts and statements. To hide one, for example an internal correction, open the Transactions tab, right-click the transaction and select Update, then turn off Visible to owner. The transaction still counts towards the balance.

​

Balances per unit

For landlords with several units, click the overflow menu (•••) on the Balance section and select View unit balances to see the Available and Pending balance for each unit. This is the view Yorlet uses when an owner is paid out per unit.

​

Negative balances

An owner’s balance can go negative when you charge them more than they hold, or when a transfer is reversed after they have been paid out. A negative balance is recovered automatically: the owner is not paid out again until new payments have covered the shortfall. If you need the owner to settle the balance sooner, enable Negative payouts in their payout information and Yorlet will create a payment request when their payout is approved. See Negative balances and payment requests.

​

Send funds

To credit an owner’s balance with income received outside Yorlet, click the overflow menu (•••) on the Balance section and select Send funds. This creates a transfer and an owner payment, and can apply the unit’s management fee. See Send funds to an owner.

​

Create an adjustment

An adjustment credits or debits the balance directly, without a transfer or a collection. Use it to correct a mistake or a rounding difference. Adjustments are available immediately. To create an adjustment, follow these steps:

1. Click the overflow menu (•••) on the Balance section and select Create adjustment.
2. Choose the Adjustment type: Credit to increase the balance or Debit to decrease it.
3. Enter the Amount and a Description. The description is visible to the owner.
4. Choose the Unit the adjustment relates to. This is required for landlords so the adjustment appears on the right unit’s statement.
5. Click Create.

​

Download a statement

To download a PDF statement of an owner’s activity, click the overflow menu (•••) on the Balance section and select PDF statement. You can choose the Date range and optionally a Unit, and turn on Group by building, Show arrears and Show unreconciled transactions. Click Create to generate the PDF. You can also have Yorlet send every active landlord a statement at the end of each month. In your payout settings, turn on Monthly balance statements. The same page lets you use your public business name on statements and hide the percentage from management fee lines.

​

Owner reserves

A reserve holds part of an owner’s balance back from payouts. Use a reserve when you know a charge is coming, such as a contractor’s invoice you have not yet received, and you do not want the funds paid out in the meantime. Reserved funds appear in the In reserve balance and can be held for as long as you need.

​

Reserve funds

To reserve funds, follow these steps:

1. Click the overflow menu (•••) on the Balance section and select Reserve funds.
2. Choose the Unit the reserve relates to.
3. Enter the Amount and a Description. The description is visible to the owner.
4. Click Create.

You can also add a reserve while reviewing a draft payout by clicking Reserve on the payout, which deducts it from that payout immediately. See Review a draft payout. You can see an owner’s reserves on the Reserves tab of the Balance section. Each reserve is either Active or Released, and shows how much has been released so far.

​

Release a reserve

Releasing a reserve returns the funds to the owner’s available balance. You can release a reserve in full or in part. Releasing a reserve is currently done through the Yorlet API rather than from the Dashboard.