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, make sure to set your Payment Application Order 

 

This article will go over how to

  • Enter Payments
  • View and edit payment distribution

 

After you enter the payments, you will need to post the transactions

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 AR Cash Receipts-Manual

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The Add Cash Receipt screen contains the following entry or selection fields

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1. Post Date Calendar option to choose payment Post Date.

2. Show Details Select this option to view the detail distribution of all payments while entering.

3. Owner Use this option to select the owner.   Enter all or a portion of the owner last name, first name, account #, Lot #, or address to select from a list of owners.  Note that cash receipts can be posted to a Property Owner, Owner, Renter, or Previous Owner.

4. Check Number Enter Check # or Payment Description such as money order 12366.

5. Amount Enter the amount of the payment.

6. Detail Select the drop-down arrow to view/edit payment distribution.

7. “+” Select the plus sign to add the payment to the batch deposit and enter the remaining payments (click the plus sign after the last payment entered before saving

8.  Save Select SAVE to save the transaction or CANCEL to cancel current entries

 

Entering payments

 

1. Select an Owner

2. Enter the check number

3. Enter the Payment Amount

4. Select the “+” To add the payment to the batch.

5. Repeat steps to add additional payments to the batch. 

 

View or Edit Payment Distribution

To View or Edit the payment distribution for a single payment, select the drop-down arrow next to “Detail”.

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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.  

 

 

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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