BT> Adjustments

Create a Transfer Adjustment

 

Summary

 

The Business Tax Adjustments batch process allows you to enter a business tax adjustment on a general ledger account. Business tax adjustments are used to adjust committed business tax transactions. Follow this process to create a BT Transfer Adjustment.

 

The transaction date of the business tax adjustments is the date the adjustments are committed (BT> Adjustments> Commit).

 

Related Links

 

Click here for information on Tax Type maintenance.

Click here for information on Status maintenance.

 

Step by Step

 

1     Create an Adjustments batch (BT> Adjustments). 

 

  • Select the Adjustments palette in BT> Adjustments. This will expand the Adjustments palette and display the steps in the adjustment process.
  • Select New from the Adjustments batch number drop-down menu to create a new batch. This will open the New Batch window.
    • If there are open batches in the Adjustments process, you can create a new batch without affecting the open batches.
  • Enter a Batch Month and Batch Year. These fields default to the current calendar period and are used for reference only. The transaction date of the billing is set up in the Generate step and the fiscal period the transactions are posted to is determined by the Journal Entry Date entered when creating the GL Distribution Report (BT> Adjustments > GL Distribution).
  • Click the Generate icon to populate the Batch Number field with the next available batch number. Batch numbers are limited to five digits and must be unique within the batch month of the batch year.
    • You can also manually create a new batch by entering a Batch Number and clicking the Save icon .
  • You can delete batches by selecting a batch and pressing DELETE.

 

2     Generate the adjustments batch. 

 

  • Open the Generate window (BT> Adjustments> Generate).
  • The Generate step is used to select which business accounts will be included in the Adjustments batch. After the Adjustments batch has been generated, the Edit step allows you to remove individual business accounts from the Adjustments batch. After the Adjustments batch has been generated, returning to the Generate step and regenerating the batch will overwrite the business accounts already included in the batch.
  • The Settings section of the Generate window allows you to filter the businesses that are included in the batch.
  • The Tax Type field is used to select which tax types will be included in the batch. By default all of the toggles are checked.
  • The Status field is used to select which statuses are included in the batch. By default all of the toggles are selected.
  • The Tran Type field is used to select which transaction types to include in the batch. By default all of the toggles are selected.
  • The Maximum Balance field is used to limit the accounts included in the batch by maximum balance. This field has a $1,000,000 limit.
  • The Tran Date From and Tran Date To fields are used to filter the accounts that will be included in the batch by transaction date.
  • The Tran Date field is used to select the transaction date of the adjustment. This field will populate with the current date.
  • Click the Confirm icon to generate the adjustments.

 

3     Create or edit the adjustments. 

 

  • Open the Edit Adjustments window (BT> Adjustments> Edit). The edit step is used to edit individual adjustment transactions before the batch is committed. You can also add additional adjustments at this step.
    • You cannot adjust uncommitted transactions or credits and deposits that have been redistributed through the BT Redistributions process.

  • Highlight a displayed adjustment transaction and click the Delete icon to remove the adjustment from the batch.

  • Edit an existing adjustment by clicking the Modify icon or create a new adjustment by clicking the Create icon .
  • Select Transfer from the Adjustment Type drop-down menu.
  • Select the transaction you would like to transfer from the Transaction Type drop-down menu.
  • Specify a Transaction Date for the transfer adjustment.
    • The Transaction Date does not affect the date that the journal entries are posted to the general ledger. The journal entry date is determined when the GL Distribution report is processed.
  • Enter an optional Description for the transfer adjustment. This field can be up to 60 characters long.
    • This description will be included on the adjustment statements if the Print Adjustment Description toggle is checked on the Statements window.
  • Click the Business Number field label to select the business that the transaction will be transferred FROM.
    • You will receive an error message if the selected business does not contain the transaction type you are attempting to transfer.
  • Click the Target Business Number field label to select the business that the transaction will be transferred TO.
    • If the selected account is included in another open Adjustments, Cash Receipts, Past Due, Redistribute, or Refunds batch, a validation message will appear and you will be prevented from using that account until the other open batches are closed.
  • Click the Next button to proceed to the next step.

 

4     Select the transactions to transfer. 

 

  • The following window will display the transactions that are available for transfer.
    • When transferring Payments, the window will display the payment transactions that can be transferred from the source business and the outstanding returns that the transfer can be applied to on the target business.
      • Highlight the desired transaction to transfer from the source business AND the desired return the transaction will be transferred to on the target business. Click the Next button to continue.
    • When transferring a CreditBill, CreditCash or Return transaction, the window will display the transactions that are eligible for transfer.
      • Highlight the desired transaction and click the Next button to continue.
    • You cannot transfer a transaction that has other pending transactions associated with it, a zero balance transaction, or a transaction that has already been reversed.
  • The following window will display the transfer details.
    • If the Edit icon is displayed, you have the option of specifying how the transferred transaction total is distributed to the target business.
  • Click the Finish button to close the Adjustment Wizard and return to the Select Adjustments window. The new transfer adjustment should now be displayed.

 

5     Commit the adjustments batch.