Single Owner Adjustment (Waive/Add Charges & Prepaid Adjustments)

 TOPS [ONE] Version 4.2.6.5

 

Description

The Owner Adjustment function gives you the ability to manage an individual owner's account balance. Multiple transactions, for the same homeowner, can be done on this screen. The page is broken up into 3 sections; waive/add charges, prepaid adjustments, and Note/Comment

The Add/Waive function allows you to easily see and adjust the owner's charges and balances.
To add a charge, enter a positive value into the adjustment box. 
To waive a charge, enter a negative number by adding a minus sign ( - ) in front of the value. 

Prepaids are monies that an owner has that have yet to be applied to a charge. Prepaid Adjustments can be used to move balances from General Prepaid to a Prepaid Account reserved for a specific charge code. 

Comments can be left on transactions to help identify the reason for the adjustment. These comments can be private to just internal employees, or they can also be a public comment for the homeowner to see. 

 

Get Started

(Do this first before performing any of the transactions below)

 

1. Click Portfolio then Communities. Select the community to work in. 

2. Click Accounts Receivable then Adjustments. 

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3. Click Owner Adjustments 

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4. Search the Owner to apply the adjustment to.  The owners can be searched by their name, address, or account number. 

The owner's status will show below the address. If the status says property, they are the primary owner. 

5. Leave Adjustment Type as Adjustment 

6. Enter the Post Date. This is the date that the transaction will post to the owner's ledger and the GL. 

 

Under the post date, you will see the Owners Current Balance, Adjustments, & Ending Balance. 

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Current Balance This is the owners' current balance.

Adjustments Total amount of adjustments made.

Example:

If a $100 Add Charge and a $25 Waive Charge is done, the Adjustment total would show as $75. 

$100+(-$25)=$75

Ending Balance Total current ending balance total after this transaction is posted. 

If the Current Balance is $2000, and ($-100) 

 

Now, select an adjustment to make

Multiple transactions can be done on the same screen. 

 

Add Charge 

1. Locate the code to add the charge to.

1a. If the charge code is not listed, click the drop-down menu and select from your available codes. Once selected, a new line with that code will be available. 

2. Enter a positive number in the box under adjustment. This will increase the owners' balance. 

 

Example

 

The codes default Credit and Debit accounts will be used for the transaction. To edit the GL accounts being used, click Show General Ledger.

To replace the credit or debit account currently being used for the code, click to search for another account. Search the account by the name or number, then select. Once finished, click Ok 

 

3. Repeat for any other charges, if necessary. 

4. Verify the charges on the page. 

 

 

Waive Charge

1. Locate the code to remove the charge from 

2. Enter a negative number (using a minus sign) in the box under adjustment. This will reduce the owner's balance. 

Example

The codes default Credit and Debit accounts will be used for the transaction. To edit the gl accounts being used, click Show General Ledger.

 

To replace the credit or debit account currently being used for the code, click to search for another account. Search the account by the name or number, then select. Once finished, click Ok 

 

2. Repeat for any other charges, if necessary. 

3. Verify the adjustments on the page. 

 

 

Prepaid Adjustment

1. Locate the Prepaid account to make the adjustment to.

1a. To select a different Prepaid account, click the drop-down menu at the bottom section. Once the new code is selected, a line for that Prepaid Account will come up. 

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.

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2. Enter the adjustment amount. 

 

To increase the owner's prepaid balance, enter a positive number

To decrease the prepaid balance, enter a negative number (by using a minus sign in front of the value)

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3. Select Show General Ledger to select the prepaid offset account. 

 

4. Both the Debit and Credit Account must have an account selected. 

To replace the credit or debit account currently being used for the code, click to search for another account. Search the account by the name or number, then select. Once finished, click Ok 

 

 

5. Repeat for any additional codes 

6. Verify the adjustments on the page. 

 

 

 

When finished

1. Complete the transaction 

Cancel Clears the page

Post Completes transaction 

Post & Add New Posts the transaction, and returns to a clear form 

 

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