What charges and payments does TOPS[ONE] include when calculating the Accounts Receivable Percentage?Follow
On each TOSP[ONE] community page you’ll find a % display for Accounts Receivable:
This percentage is produced with a simple calculation:
Total Amount Received divided by Total Charges Applied
In the example, the calculation is:
$7,735.76 ÷ $51,126.33 = 15%
The below spec provides further detail on how TOPS[ONE} calculates the Total Applied charges and Total Received cash receipt amounts included in the “Applied” and “Received” totals.
- TOTAL APPLIED: Calculates the sum of amounts of the following types of transactions: Apply Charges, Apply Late Fee, Apply Interest, Apply Prepaids, Waive Charge, Add Charge, Apply NSF, and Beginning Balance.
- TOTAL RECEIVED: Calculates the sum of amounts of the following types of transactions: Cash Receipts (Manual Cash Receipts and Lockbock) and subtracts the sum of amounts of any Backout Payment transactions.
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