Managing holdovers

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A holdover period is the number of days between the time a shared payments posted and the time the payment is eligible to be included on a client statement. This allows time for the payment to clear the bank. This feature is particularly useful for companies whose clients do no share NSF reversals. To configure holdover delays, see Configuring the holdover period for a shared payment.

The holdover period that the system displays is either the agency default or the client default. Held over transactions still display on the Daily Trans report and are included in the bank deposit. They do not display on a client statement until after the holdover period has passed. If a spread code or an adjustment that includes trans code 16 is held over, the client payment transaction is also held over for the same length of time.

If a held over transaction goes NSF, do not post an NSF reversal. Instead, cancel the transaction or it will be released to print on a client statement as soon as the holdover period expires. After a transaction is canceled, there is no need for an NSF reversal. For instructions, see Cancel transactions posted during the current month.