Holding Accounts

A holding account is a billing account that you configure in Gotransverse during the payment matching setup process. It serves as a temporary holding place for AR transactions. The holding account also posts non-AR transactions that result in journal entries, such as deposits, interest, bank charges, service fees, and transfers. Each bank or entity that provides transaction files is associated with a single holding account.

Refer to Setup Module for more information about how to configure a holding account for Payment Matching.

When Gotransverse processes a submitted transaction file, non-AR transactions and unmatched AR transactions post into a holding account. The holding account enables you to post unmatched AR transactions in a transaction file immediately and return to the transaction file at a later time to move those transactions to other billing accounts.

Refer to Transactions Module for more information on how to move transactions after they are posted.