Owner Prepaid Application
TOPS [ONE] Version 18.104.22.168, Last Updated 07/17/2018
Applying prepayments will take owners' prepaid amounts and apply them to owners' outstanding balances.
This guide will cover how to apply prepayments.
We recommend applying prepaids before you
-Apply Late Fees
-Run Delinquency Reports
This will prevent owners from appearing on both the Aged Owner Balance report and the Prepaid Balance Report.
Step By Step
1. Click Accounts Receivable
2. Select AR Charges
3. Click Apply Prepaid
4. Select the Post date.
This is the date the prepaid application will post to the owners' ledgers and the general ledger.
5. Click Accrue.
Now you should be on the APPLIED PREPAIDS REVIEW ACCRUED page.
If a change is needed, select Actions > Edit
You can edit post date, GL accounts, owner prepaid application amounts.
You can also remove an owner altogether from the prepaid application.
Finally, it's time to post the prepaid application.
6. Click Post.