Manual Cash Receipts (Owner Payments)

TOPS [ONE] Version 4.2.3.7

 

Description

The manual cash receipts process includes the posting of payments that are received in your office (checks in your hands).  These payments can include owner checks, money orders or cashier checks. Normally, several payments are grouped or batched, into a single deposit to your bank.

Manual Cash Receipts are a Global Process in TOPS [ONE], allowing you to enter and post cash receipts for multiple communities as a single process. Once you post, TOPS [ONE] will separate and report on a per community basis.

 

Before You Start

Set/Verify the Payment Application Order.

 

Article Contents 

Enter Payments

Edit the Payment Distribution (If necessary)

 

After the Payments Entered...

Post an Open Cash Receipt

 

 

Step By Step 

1. Click Accounts Receivable then Cash Receipts

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2. Under Cash Receipts, click on Cash Receipts-Manual

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This will redirect you to the Add Cash Receipts page. 

 

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3. Enter the Post Date. 

The Post Date is the date the payment will hit the Owner Property Ledger. 

If this payment is being backdated, it is recommended to use the Owner Balance Report to verify the owner's true balance for post date being used. 

4. Under Add to Batch, Enter the Owner and Payment information. 

Owner Enter the Owner Name, Lot #, or Property Address. 

If an owner has multiple properties and paid with a single check, the payment must be entered for each property

Check Number Enter Check # or Payment Description. 

Amount Enter the total payment amount. 

 

5. Verify the Payment Distribution by clicking Detail 

 

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By default, the monies will be applied based on the Payment Distribution Order. 

To apply the funds to different codes, change the amount being Paid 

 

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In order for the transaction to post correctly: 

- The Amount and Total Paid amount have to match 

Amount Left to Distribute must be zero

- Payments cannot exceed the balance the owner has on that day. 

If you have a payment for $100, but the owner owes $20, you cannot have a credit on that charge code. Any amount that exceeds total amount due will automatically distribute to General Prepaid.  You cannot enter a negative distribution to any charge.

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Any amount that exceeds total amount due will automatically distribute to General Prepaid.  You cannot enter a negative distribution to any charge.  

 Select the 2018-12-11_16_56_38-TOPS__ONE_.jpgsign to add the payment to the batch deposit 

 

 

6. Repeat until all owners have been added to this batch. 

 

(Detailed)Edit the Payment Distribution

By default, the monies will be applied based on the Payment Distribution Order. 

To apply the funds to different codes, 

 

 

Any amount that exceeds total amount due will automatically distribute to General Prepaid.  You cannot enter a negative distribution to any charge.  

 

 

Payment Distribution Options (application of how payments are applied to charge codes)

Code Distribution to Use

The Code Distribution selected here controls how the system automatically distributes the payment to the owners’ current charges.  The system will default to the “Default” code distribution.  Select the drop-down arrow to select a different Distribution.

 

The Default Distribution and other Distributions, which define which charges are paid first, are defined in the Community CODES setup.  

Target Bank

The system defaults to the “Primary” bank account for the community, defined in Portfolio, Banks, Bank Accounts.  Select the drop-down arrow to select a different bank.

 

PP – Credit Prepaid Reserved for

Any amount received over the owner total amount due will automatically distribute to a General Prepaid Credit.  The general prepaid credit amount will appear in the owner ledger as “PP – Credit Prepaid”.  All prepaid credit amount is reserved for future charges and will automatically distribute when new recurring charges are posted using the AR Apply Charges option. Prepaid-Credits can also be applied manually using the AR Charges, APPLY PREPAID option.    The distribution of Prepaid Credits is applied to existing owner balances using the Code Distribution type selected for this payment. 

 

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Changing a General Prepaid to a Designated Prepaid:

A General Prepaid (PP) code can be changed on this screen to a “Designated Prepaid Code”.   A Designated Prepaid is used to lock the distribution of any prepaid amounts to only apply to a specific charge.   For example, the prepaid credit amount can be designated to only apply to the monthly assessment or to only apply to a special assessment.

 

To change the General Prepaid Code to a Designated Prepaid Code:

1. Select the drop-down arrow next to “General Prepaid”

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2. Select from a comprehensive list of all Charge Codes setup for the community.

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3.  “PP – Credit-Prepaid Reserved For” field will reflect the selected “Reserves for” charge.

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Saving the batch

1. Once you have finished entering the payment, click on Save.  In the ADD TO BATCH, box click on Yes.  If you are finished entering in all of the checks, click Save again to save the batch. 

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­After you have saved your batch, you will need to post your transaction.

Click here for instructions on how to do so.

Post an Open Cash Receipt

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