TOPS [ONE] Version 188.8.131.52
A prepaid balance is an unused credit balance resulting from an early payment or over payment. This credit will be applied by the Apply Prepaids action once there are balances due for this owner. By default, this feature will only apply to Current Primary Owners, but the option to apply to other owners is available in a manual Apply Prepaid transaction.
An Apply Prepaid transaction automatically follows every Apply Charge transaction.
This guide will go over how to apply prepaids.
We recommend applying prepaids before you:
-Apply Late Fees
-Run Delinquency Reports
This will prevent owners from appearing on both the Aged Owner Balance report and the Prepaid Balance Report.
Step By Step
1. Click Accounts Receivable
2. Select Charges
3. Click Apply Prepaid
4. Verify the Fiscal Year
5. Enter the Post Date
This is the date the prepaid application will post to the owners' ledgers and the general ledger.
6. Under Scheduling, select:
This Time Only
Schedule Accrues the waive and notifies to review and post the charges. OR
Automate Accrues and posts the waive without any further user interaction
7. (optional) To include all owner types (including previous owners), click the Include all Owner Types
8. Click Accrue.
9. Verify the information on the Accrued Review page.
10. (optional) To make edits to the transaction, click the icon.
This will give you the option to remove the owner from the batch or to edit the amount. Click the Check mark to save.
10. Click Post once complete.