Setting Up Section 8 Repayment Agreements

Because the Tenant Accounts Receivable program primarily manages Public Housing information, you must first set up specific Section 8 information before you can add repayment to a Section 8 customer. Setting up a Section 8 repayment agreement involves 7 main steps:

ü Add Section 8 development.
ü Set up office security (optional).
ü Set up repayment transaction type.
ü Set up repayment revolving charge account.
ü Map Section 8 development to appropriate posting and bank accounts.
ü Map repayment transaction type to repayment account.
ü Map repayment account to income account.

Add Section 8 Development

See "Setting Up Developments"

1. Click SETUP on the Main Menu screen. On the Receivables Setup screen that appears, select the General Settings, Developments, Units taband then click DEVELOPMENT. The Browse Development screen opens with all available developments displayed in a table.
2. Click on the toolbar. The Add Development Wizard is initiated.
3. Enter a development code (such as “S8V”), and then a description (such as “Section 8 HCV Repayment Agreement”).
4. Click START and then click FINISH to add the new development. The Maintain Development screen appears with the new development information displayed.

Note: All other default values are not necessary at this time.

Set Up Office Security (if necessary)

See "Setting Up Office Security"

5. If necessary, set up office security. Setting up office security, which involves adding employees to a specific Section 8 office and then assigning both to a separate cash drawer for Section 8 payments, is usually only conducted by larger agencies.

Set Up Repayment Transaction Type

See "Setting Up Transaction Types"

6. Click to return to the Receivables Setup screen, select the Offices and Accounts tab and then click TRANSACTIONS. The Maintain Transaction Types screen appears.
7. Click on the toolbar. The Add Transaction Type Wizard is initiated.
8. Enter a description, such as “Section 8 HCV Repayment,” click START, and then click FINISH to add the new transaction type. The Maintain Transaction Types screen displays again.

Note: If your agency charges repayment interest, make sure to add a “Section 8 Repayment Interest” transaction type, as well.

Set Up Repayment Revolving Charge Account

See "Setting Up Account Types"

9. Click to return to the Receivables Setup screen, select the Offices and Accounts tab and then click ACCOUNTS. The Browse Customer Account Types screen appears.
10. Click on the toolbar. The Add Account Type Wizard is initiated.
11. Enter a description, such as “Section 8 HCV Repayment,” and select “Revolving Charge Account” as the type of account.
12. Click START to continue.
13. Select “Repayment Agreement Register” as the default register, “Statement-Standard” as the default statement, and a default bill (optional). Click NEXT to continue.
14. Review and confirm the information you have set up and click FINISH to save and create the new account. The Maintain Customer Account Types screen appears.

Map Development to Posting and Bank Accounts

See "Mapping Development Accounts"See "Mapping Income Accounts"

15. Select the Development Account Mapping tab and click . The Add Development Account Mapping Wizard is initiated.
16. Select the “Section 8 HCV Repayment Agreement” development you previously created as the development name.
17. Select the appropriate posting account number. It is extremely important that you verify with your accounting department as to which account number needs to be selected for posting HAP.
18. Select the appropriate bank account number. It is extremely important that you verify with your accounting department as to which bank account number needs to be selected for Section 8 payments.
19. If necessary, select a cash drawer.
20. Click START to continue, review and confirm the information you have set up, and then click FINISH to map the development account to the transaction type. The Development Account Mapping tab displays again.

Map Repayment Transaction Type to Repayment Account

See "Mapping Transaction Types"

21. Select the Transactions Included in Account tab and click . The Add Transaction to Include in Account Wizard is initiated.
22. Select the “Section 8 HCV Repayment Agreement” transaction type you previously created as the transaction description, enter the payment apply order for past due and current amounts (if necessary), click START and then click FINISH to save and map the transaction to the account. The Transactions Included in Account tab displays again.

Note: If your agency charges repayment interest, and you have added a “Section 8 Repayment Interest” transaction type, make sure to map that transaction type to the account, as well.

Map Repayment Account to Income Account

See "Mapping Income Accounts"

23. Click ACCOUNT MAPPING. The Maintain Transaction Ledger Accounts screen appears.
24. Click and select the appropriate income account number. It is extremely important that you verify with your accounting department as to which income account number needs to be selected.
25. Click to map the income account number to the account. You have successfully set up a Section 8 repayment agreement!

Now that you are finished setting up the needed information to create a Section 8 repayment agreement, you can now add repayment to a Section 8 customer.

Copyright © Tenmast Software 2011