Processing Matched Pending Payments
Processing Matched Pending Payments
NOTE: Application of payments received without a coupon is a manual process. A careful and thorough review of the lockbox payments presented on this screen is necessary to identify and correct misapplications.
The Pending Payments screen provides the following information:
Payments are uploaded Accounting Integrators (AI) or imported (CINC-only) on a daily basis.
Uploaded payments have already been deposited at the bank. Do not delete these because reconciliation issues will occur.
If daily deposits as are being posted as recommended, only one date will display. A dropdown menu will display if multiple dates are available. If multiple dates do display, post them in order by age (oldest first).
Payment distribution may be required.
Payments can be viewed by Billing Type to ensure funds are applied to the correct assessments.
They can also view by Status, or by only accounts not paid in full.
Payments can be split to other homeowners in the same association.
Checks can be viewed from this screen, Accounting Integrators (AI) only.
Click Post to post the payments. If multiple pages are displayed, select the Post All Associations checkbox (recommended).
To review pending payments:
Select Homeowners > Pending Payments. If you are using universal navigation, click Accounting > Daily > Pending Payments.
Select (All Associations).
Select Matched in the View field.
Select the Status:
Previous Owner: Detects payments received from a previous owner who should no longer be making payments. If a previous owner has made a payment, further action may be required after the payment is posted. Do not delete.
User-defined statuses: If any status should not make payments, determine if any further action should be taken after payment is posted. Do not delete.
Select the Billing Type:
Automatic ACH: Detects duplicate payments for homeowners who are set up on ACH but have also mailed a payment to the lockbox. Further action to refund a duplicate payment may be taken after payment is posted. Do not delete.
Ignore other billing types. They do not apply here.
Toggle on Only Non-Payoff Items to see accounts that are not paying the balance due in full. Review payments to determine whether to override the system distributions.
NOTE: Refer to instructions on the distr link.
Review the Check Numbers field and make corrections, as necessary. Some actual scanned check numbers are not picked up but come in as #1 or #90, so these checks must be handled differently:
Open a second screen to which to drag and drop checks numbered 1 or 90.
Click on the check number link to view the check.
Drag to the second screen to save for later.
Create the pending batch (it can still be edited); use the images to find homeowners and get correct check numbers so they can be searchable.
Review the Payment Amounts field and make corrections, as necessary. Review for large, unusual, or different payment amounts that may need special treatment. For example:
Special Assessments: Use the distribution link (distr) to redistribute the payment to the correct assessment balance.
Homeowners paying multiple assessments for one or more properties within the same association: Use split items function to correctly distribute payments.
Homeowners paying multiple assessments for one or more properties for multiple associations: As the deposit has been made to this association’s bank account, payments for other associations should not be redistributed on this screen to avoid reconciliation issues. This should be done from the Banking > Transfer Inter Assoc screen if available. If you are using universal navigation, click Accounting > Banking > Transfer Inter-association.
Prepayments: No action is necessary because the system will direct all overpayments to Prepaid in the homeowner ledger.
Review the Split Items field and make corrections, as necessary. Items highlighted in green (e.g., homeowners paying multiple assessments for one or more properties) should be split between multiple accounts in the same association. Correct this by using the split link. The Split A Payment checkbox will appear:
Enter the number of splits needed, including the original property. Click Refresh. The system default is two splits; maximum number of splits allowed is 99.
The system will provide the indicated number of lines and will equally split the payment amount. The last payment may be rounded.
In each new line, choose the homeowner/property to which the payment is to be applied by entering part of the homeowner’s name, account number or address and clicking Search.
In the Amount column, enter the amount of the payment to be applied to each property if different than the default.
Click Save.
NOTE: This split will be saved for future use based on the routing and account numbers on the check.
Using Saved Splits
When the system identifies a check with the same routing and account number as a previously split payment, the saved split will be available for selection on the Split a Payment screen.
To use a saved split:
Select Homeowners > Pending Payments. If you are using universal navigation, click Accounting > Daily > Pending Payments.
From Pending Payment screen, click the split link.
Choose a saved split from the dropdown on the Split a Payment popup screen, review for accuracy, then click Save. If changes are made to the saved split, they will overwrite a previously saved split.
NOTE: Only one split may be made for each routing/account number combination. A saved split cannot be deleted but may be changed as needed.
These new properties will appear in the Pending Payments grid and, when posted, will post to the new homeowner accounts.
After all payments have been reviewed and any necessary corrections have been made, toggle the Post All Associations option to on, and click Post.
To post the batch, select Homeowners > Batch Posting. If you are using universal navigation, click Accounting > Daily > Batch Posting.
Select Batch Type of Auto Payment.
Review the Batch Audit Report and make any final corrections. The Close Date is the same payment date as the transactions in the batch.
Click Post.