CR> Cash Receipts> Enter Receipts

Create an SA Pay Down

 

Summary

 

The Cash Receipts module can be used to receive full pay downs and partial payments on SA Assessments.

 

Related Links

 

Click here for information on Assessment Maintenance.

Click here for information on committing a cash receipts batch.

 

Step by Step

 

1     Open the Cash Entry window. 

 

  • The Cash Entry window can be opened from two separate palette options: Enter Receipts or Cash Entry.
    • The Enter Receipts item on the Cash Receipts palette will display all of the receipts that have been entered in a batch. This allows you to open and modify all of the receipts in the batch.
    • Click the Show Batch Totals icon to open an informational window that will display Cash, Check, Other, Change and Batch totals for the active receipts included in the batch. Totals will not include voided receipts.
    • The Cash Entry menu item will open the Cash Entry window but only allow users to view the receipt being generated.
    • Menu security (SS> Security> Menu Security) can be set up on the Cash Receipts palette to disable one of the palette options.
  • Click the Delete icon or press DELETE to void a receipt that is included in the batch.
  • Highlight a receipt and click the Modify icon or press ENTER to edit an existing receipt.
  • Click the Create icon or press INSERT to create a new receipt for the batch. This will open the Cash Entry window.

 

2     Create an SA pay down. 

 

  • The Cash Entry window uses two search filtering tabs.
    • You can enter the Customer Number on the Customer tab to populate the Account/Category section below with all of the Springbrook accounts associated with that customer. You can also click the Customer Number field label to open the Customer Selection window. From here you can select the customer and the SA account you would like to add to the receipt.
    • Alternatively, you can enter an SA Assessment Number on the Search tab or click the field label to select the desired SA account from a list.
      • An assessment that is included in another uncommitted batch that could affect principal due and interest due totals cannot be included in a Cash Receipts batch.
  • Once the desired SA assessment is displayed in the Account/Category grid below, highlight the account and click the SA Pay Down Assessment icon .
    • This will populate the Amount Due and the Amount to Pay fields with the full Payoff Amount for the assessment (SA> Maintenance> Assessment> General tab> Payoff Amount field).Click here for information on Assessment Maintenance.
    • The Detail tab will populate with line items representing total principal due and total interest due. When an SA assessment is paid off, two invoices are generated.
      • The first invoice is applied to any unpaid interest due. The interest due amount includes any unbilled interest due as of the receipt date, calculated from the assessment's Last Interest Date (SA> Maintenance> Assessment> General tab> Last Interest Date field).
      • The second invoice is applied to any remaining principal. The principal due amount includes all unbilled principal on the assessment minus any credits on the account.
  • Update the Amount to Pay field with the amount being paid on the receipt.
    • This will update the Details tab as well. Payments are always applied to interest first with any remaining amount applied to the principal.
    • If the amount being paid on the assessment exceeds the amount due for the billing period, the future bill amounts can be recalculated across the remaining term of the assessment. This recalculation is optional and is made on the Change Assessment window (SA> Utilities> Change Assessment). Click here for information on the Change Assessment window.
  • Click the Amount field in the Payments section above and the Amount to Pay entered below will automatically populate. Select a Pay Method and enter an optional Reference number.
    • If you are using a pay method that has an associated cash override account, no other pay methods can be used on the receipt.
  • Click the Save icon to save the new receipt and return to the Enter Receipts window. The newly created receipt should now be displayed.
  • Repeat these steps to process additional SA payments or click the Exit icon to continue.

 

3     Commit the cash receipts batch.