Adjusting a Homeowner Ledger
Adjusting a Homeowner Ledger
Adjusting a homeowner ledger is done when there is no payment to return but a payment reduction needs to be entered on the ledger. For example, if more refunds were given than the original payment that was taken, the original payment would have been refunded, and the additional refunds need to be recorded.
To adjust a homeowner ledger:
Select Homeowners > Transaction History. If you are using universal navigation, click Residents > Residents > Transaction History.
Select the association.
In the Homeowner field, enter the homeowner’s partial name, address or account number and click the Search icon.
Select Charge Grouping or Transaction By Date in the View dropdown.
Click New.
On the Post Transaction screen, complete the following information:
Assessment: Select the assessment from the dropdown. Defaults to Automatic Distribution but must change to the specific assessment. The dropdown list is populated from the System > Assessment screen and will show only assessments linked to the association’s GL. If you are using universal navigation, click Accounting > Settings > Assessments.
Type: Select Payment Adjustment.
Description: Modify if needed. This will be displayed on the homeowner’s Transaction History screen.
Date: Select the date that the funds were debited from the association’s bank account or, if aligning with that payment, the original payment date.
Batch: Click on the Search icon, then click New. Best practice is to create a new batch each time because batches must be unique in their purpose (charge, payment, etc.).
Amount: Enter the amount to reduce the payments on the ledger.
Ref #: Enter the original payment reference number that you are correcting.
Click Save.