Summary

Follow this process to set up the Special Assessments module.

Step by Step

1     Open the SA Setup window (SA> Utilities> Setup).

2     Set up the SA module.

• Use the Assessment Digits field to specify the length of the digit portion of the standard assessment number.
  • This value can be between four and nine digits.
  • The user-defined character portion of the assessment number is determined by the Assessment Type used to create the assessment.
    • Assessment Types are created and maintained on the Assessment Type Maintenance window (SA> Maintenance> Assessment Type).
• Check the Always use 365 days per year for interest toggle to determine how assessment interest is calculated during leap year.
  • Turning this option on causes the system to assume that the daily interest rate is always based on a 365-day year. During a leap year, no interest is calculated on February 29.
  • If this option is turned off, the system will calculate daily interest for leap years by figuring in the extra day in the year. Daily interest rates will be 1/366 of the annual interest rate and interest will accrue on February 29th.
• Check the Allow amortization billings near first or last of month toggle to prevent the billing date from being changed when it falls near the beginning or end of the month.
  • If this toggle is not checked, assessments with a billing date later than the 25th of the month or earlier than the 5th of the month will be changed to the first day of the month.
• Check the Create back interest for reversed payments toggle to automatically generate interest invoices when a payment is reversed through the SA Adjustments process.
  • When a payment is applied to the account principle in one billing cycle, the amount used to calculate the interest due for the following billing cycle will not include the applied payment amount. If that payment is reversed, the actual interest due should be recalculated to reflect the full principle amount rather than the principle amount less the reversed payment. When this toggle is checked, a new invoice will be created to address this new interest due amount.
  • If this toggle is not checked, you will be responsible for manually calculating the updated interest due and creating the necessary adjustment.
• Click the Save icon when complete.

3     Track any changes made to the SA Setup window.

• Click the Audit Trail icon to open the Audit Trail window.
• Use the Search Criteria section to sort the displayed audit trail.
• The Audit Trail History section will provide details about any changes made to the setup window including the date of the change, type of change made, user that made the change, and data table that was edited.