Setup Codes Overview

TOPS [ONE] Version 4.2.4.1

 

Codes are used to define amounts/steps and timing for Charges to Collections to Violations and more. You can easily set up and manage all of your community-specific codes in one screen! Make sure to complete the tasks below to ensure you are set up to be successful! 

 

Add your Assessment Codes 

Assessment Codes are used to set up and assign routine Association fees and other recurring charges for a community. These codes can be accrued and posted based on the frequency of billing.

Let's get started setting up your charge codes.

 

Setup/Add Assessment Codes

 

 Add your Special Assessment Codes 

Special Assessment codes are used to define temporary charge codes that will be billed once or over a set amount of time. You can set the frequency, amount, start and end dates along with GL assignment for financial reporting. 

Example If a natural disaster occurs, like a hurricane, and it does damage to your Clubhouse, you can create a special assessment to collect dues for repairs.  

 

Setup/Add Special Assessment Codes

 

Assigning Charges to Properties/Owners 

Before charges can be posted, they must be assigned to properties. 

Assign charge codes to one owner at a time, or to an entire community based on your set up. 

 

Assigning Charge Codes to Properties

 

 

Set the Payment Application Order

When homeowners send in their payments, TOPS [ONE] will use the Code Distribution list to arrange the order in which the payments need to be applied to. 

Set the order of charges for lockboxes and manual cash receipts. If needed, custom distribution lists can also be created. Ensure you set your distributions before posting any AR.  

 

Set up Payment Application Order

 

 

Apply Prepaids

When a homeowner makes a payment and doesn't have a balance, their payment goes into a Prepaid Account or a Prepaid Reserve account. 

The Prepaid balance in this account will need to be applied to charge codes once they are posted to the account. 

It is best practice to apply or automate prepaids to run before the following transactions: 

-Apply Late Fees

-Charge Interest

-Run Collections 

-Run Delinquency Reports 

 

Learn How to Apply Owner Prepay

 

 Import Owner Payments using Lockbox files

Lockbox files are files sent from your bank as a receipt for payments made by homeowners. Lockbox files are global and can be uploaded for multiple communities at a time while posting to their correct properties. 

The article below will give you instructions on how to prepare your TOPS [ONE] for lockbox imports, and how to accrue and post their payments. 

 

Cash Receipts – Lockbox

 

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