Menu 4.15 - Holdover Update

The holdover date feature allows a delay between the time a shared payment is posted and the time the same payment is eligible to be included on a client statement. The holdover period allows time for the payment to clear the bank. This feature is particularly useful for companies whose clients do not share NSF reversals.

Holdover applies to all transaction types, not just checks.

Holdover must be initially set up by your Finvi Support representative. After the setup is complete, the Holdover field automatically displays on the Post screen.

Holdovers apply to the following screens:

Screen	Overview
Agency Default	Establish a default number of days for the holdover period for the entire agency. This is the number of days it takes for a payment to clear the bank. For instructions on updating this default, see Configuring the holdover period for a shared payment.
Special Client Holdover Periods	You can establish a different holdover period for every client. Type the number of days in the field 371 - Holdover Days in the Client Control Record. If the field is left blank, the agency default is used. For more information, see Creating or changing the Client Control Record.
Posting	The Holdover field displays to the right of the Comm Rate/Amount field on the Posting screen. The number of days displayed in the field is either the agency default or the client default. Transactions which are held over still display on the Daily Transactions report and are included in the bank deposit. They do not print on a client statement until after the holdover period has passed. For instructions on updating a holdover in the Posting screen, see Changing a holdover period for a transaction.

If a transaction that was held over is returned NSF, do not post an NSF reversal. Instead, cancel the transaction so it does not print on a client statement when the holdover period expires. After you cancel a transaction, there is no need to reverse an NSF. For more information, see Post NSF reversals.