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Holding Accounts

A holding account is a billing account that you configure in TRACT 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 payment files is associated with a single holding account.

How Do I Set Up a Holding Account?

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

How Do I Use Holding Accounts in Payment Matching?

When TRACT processes a submitted payment 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 payment file immediately and return to the payment file at a later time to move those transactions to other billing accounts. See Payment Transactions for more information on how to move transactions after they are posted.

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