Introduction

The purpose of this process is to post payments made by residents. In addition to receipts, there are also electronic payments processed by the Advantos Enterprise application (the source of the posting is from a file transmitted to the management company office).

General Notes

Payments can be posted through Advantos Enterprise at any time. The payment will not update the resident account until deposited, except when a resident manager is making a deposit during the T/R month-end process. If a payment has been posted through this screen but has not yet been deposited to the unit, a message will appear when you select this unit.

Receipts can be created and/or printed and given to a resident/owner. This is good for situations where people pay on site or come directly into the main office. It is also valuable for receipting for CASH. A receipt is printed creating a flag in the payment-on-hold preventing anyone, except a System Administrator, from altering the payment through T/R option# 2.2. As a receipt is processed, you can enter a memo note to be printed on the receipt. This memo is not saved in the database, however.

Posting Process

Typically, payments are received by a Resident Manager or by a designated person in the main office. It is entered through TR, Unit Information, Post Cash Payments. Once payments are posted, reports are available to total various undeposited amounts, e.g. cash on-hand totals by location.

Any posting to the moveout unit# will give the user an opportunity to select the regular unit# to associate the transaction with. This is helpful for apartment/office style moveouts where the old unit# balance due needs to be cleared out and moved somewhere. This moveout unit# is where the balance due goes.

During the entry of payment information, the user has the option to change the name placed on the payment. This is useful if a payment is received from someone other than the responsible resident. The payment can be corrected and/or voided prior to depositing so no decisions need be made here. Also, since postings are held until deposit, payments can be receipted for even though T/R may be in EOM closing.

A payment can be allocated to a Security Deposit or to UNAPPLY (or both) if the need should arise.

However, nothing can be applied to UNAPPLY unless a new name is entered in the NAME field and the check box 'Apply to Sec Dep/Unapply' is checked (see screen below). This is typically done on apartment type units, where the person is paying in advance of moving in and you have not yet done a 'MI' on the person making the payment. In that event, you do not want the funds to be applied to any invoices outstanding on the existing unit; rather, you want the funds this person is paying to be posted to UNAPPLY so that you can later determine where you want the funds posted after you have done a 'MI' on this person.

A receipt may be prepared for whoever delivered the payment. If a receipt is issued, a flag is set in the payment so no payment information can be changed. This is important since a written receipt is final and should not be changed.

When all the data is entered properly, the OK? prompt needs to be responded to. Normally you have either two possible answers - Yes or No. Yes will update the payment into the hold bucket awaiting a deposit while No cancels the data input and restarts the process. However, here you have a third option: [D]eposit the payment. This will, instead of updating the payment to the hold bucket, deposit each single payment and apply to the customer accounts. Actually, everything the deposit process does this does too, only 1 deposit is created for each payment.

Moving Funds between Units

It is possible to move funds between units within a client. This can only be done for apartment-type clients and will only work when moving Unapplied amounts. In addition, one must use the "Adjust Accounts" process to accomplish this.

In order to accomplish this, use UNAPPLY as the source and enter [M]ove in the Apply to - Inv# field. You have the option of either moving the funds to another [U]nit, within the client, or [R]efund the funds and automatically creating an A/P Invoice. If you move Unapplied to another [U]nit you need to know the unit# ahead of time as the Unit# field does not have a help capability. If the funds are to be [R]efunded, enter the A/P payee information.