Summary

Once charges have been generated or payments have been processed, these transactions can be adjusted in the Special Assessments module using the Adjustments process (SA> Adjustments).

Follow this process to create a reversal adjustment.

Step by Step

1     Create or open an Adjustments batch.

• Select the Adjustments palette in SA> Adjustments. This will expand the Adjustments palette and display the steps of the Adjustments batch process.
• Modify an existing batch or create a new Adjustments batch.
  • Select a batch number from the drop-down menu at the top of the Adjustments palette to select an existing batch.
  • 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 for reference only. The fiscal period of the transactions in the batch is determined by the Journal Entry Date entered during the Generate step.
  • 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  .
• Highlight the batch in the batch number drop-down menu on the Adjustments palette and press DELETE to delete a batch. Any uncommitted adjustments in the batch will be deleted.

2     Enter or edit the reversal adjustments.

• Open the Select Adjustments window (SA> Adjustments> Edit).
• The Select Adjustments window will display all of the adjustments in the open batch.
• Highlight an adjustment and click the Delete icon to remove the selected adjustment from the batch.
• Click the Create icon to open the Adjustment Wizard.
• Select Reversal from the Adjustment Type drop-down menu.
• Select a Transaction Type for the new reversal. Transactions that have previously been reversed or have a pending reversal cannot be reversed.
  • Select CreditCash to reverse a credit on the account.
  • Select Interest to reverse an interest invoice on the account.
    • Only the most recent interest invoice can be reversed. If an interest invoice is reversed, and that interest invoice has an associated principal invoice, both will be reversed. This corresponding reversal will not be displayed until the Finish step.
  • Select Payment to reverse an existing payment.
    • Reversing a payment may result in unbilled interest. If the Create back interest for reversed payments toggle is checked on the SA Setup window (SA> Utilities> Setup), an additional interest charge will be applied to the account for the unbilled interest amount.
  • Select Penalty to reverse an assessed penalty.
  • Select Principal to reverse a principal invoice on the account.
    • Only most recent principal invoice can be reversed. If a principal invoice is reversed, and that principal invoice has an associated interest invoice, both will be reversed. This corresponding reversal will not be displayed until the Finish step.
• Specify a Transaction Date for the 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 a Reference Number and Description for the adjustment. This information is not required.
  • The Description will appear on the Adjustment Statements that are generated for the customers associated with the adjusted assessment.
• Click the Assessment Number field to select the account that the reversal will affect.
  • You will receive an error message if the selected assessment does not contain the transaction type you are attempting to reverse.
• Click the Next button to proceed to the next step.

3     Select and reverse the transaction.

• The following window will display all of the CreditCash, Interest, Payment, Penalty or Principal transactions that can be reversed.
  • You cannot reverse a transaction that has other pending transactions associated with it or a transaction that has already been reversed.
• Highlight the desired transaction and click the Next button.
• The following window will display the reversal details.
  • Click the Add button if you would like to attach a penalty fee to the account while reversing a transaction. This is often used when assessing an NSF (Non-Sufficient Funds) penalty while reversing a payment transaction.
• Click the Finish button to close the Adjustment Wizard and return to the Select Adjustments window.

4     Commit the adjustments batch.