Adjustments - Refund Owner Credit TOPS [ONE]

 TOPS [ONE] Version



Owner refunds are done when an owner has a credit in their prepaid balance and that credit needs to be returned to the owner. 

Sometimes someone overpays on accident and requests a refund of the overpayment. Other times, someone may have a credit on the account when they sell the unit and you need to issue a refund.


There are a few parts to take to get this done in TOPS [ONE].

1. Adjust the Prepaid balance off the homeowner account. 

2. Add the Owner as a Vendor

3. Enter a Bill and Cut a Check for the Owner



Adjust the Prepaid balance off the homeowner account creating a credit in the cash account. 

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

2. Click Accounts Receivable and select Adjustments.


3. Select Owner Adjustment


4. Verify the Community.

If this transaction is for the wrong community, hover the cursor over the arrow next to the community name on the top left of the page, and select the correct community. 


5. Enter the Owner's name or property address that has the prepaid balance. 

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


6. Set the Adjustment Type as Adjustment

7. Fill out POST DATE, as the date the refund will be issued.


If the owner has a prepaid balance, the Prepaid Code (in this case General Prepaid) will display with the owner's current balance under Pre-Paid Credit Amount



8. Under Pre-Paid Credit Amount, enter the amount to refund  -XX.XX. After the amount is entered, click outside of the text box, to update the Total 

Must add a - to make it a negative number




9. Click Show General Ledger. If unsure which accounts to use, please reach out to your CPA. 


redit Account-  Checking/Cash account the refund will be issued from (ie, 1010).

Use the same account that is used to cut AP checks.

11. Debit Account- Enter the Prepaid Assessment account (ie, 3310).

12. When finished, Click Post at the top right




Add the homeowner as a vendor to cut a check 

13. Follow the instructions in this article to add the homeowner as a vendor. 

Add the Owners property address and information to the vendor page. 

You can edit the Display Name to show Owner- on your reporting. 



Enter a Bill to Cut a Check for the Owner

14. Enter and post a bill assigned to the homeowner.  

Bill Number This is a required field and must be filled in. (Owner Refund- is typically used in this case)

Bill, Effective and Due Date - Enter the date the refund will be issued. 

Use the same date as in Step 7

Bill Distribution The account used will be Credit Account, the account that was credited when proccessing the AR adjustment

 (Step 10) 

Bill Total Amount to be refunded to the owner 

15. Once the bill is posted, find the bill in your Open Invoices, and Print the Check


Why this works:
Two transactions wash each other out

  1. Adjustment - removes from cash (credits)
  2. AP cut check puts it back to cash (debits)
  3. AP offset removes from cash (credits)

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