Adding Receivable Credit Memos

A receivable credit memo is an adjustment to a receivable to decrease the amount of the receivable that the tenant owes. This will NOT affect the ending balance of the account.

You can also add credit memos and recurring credit memos to AR accounts, revolving charge accounts, and mortgage accounts. See "Adding Credit Memos/Adjustments"; See "Adding Recurring Credit Memos"

Note: A receivable is not a new charge. It is simply an amount currently due, out of a greater total amount that a customer already owes in a particular account. Unlike most other transactions, receivables have no effect on the balances of the accounts in which you create them. (In other words, a receivable itself never actually “posts” to an account.)

From the Main Menu screen, click TENANTS or RECEIVABLES. The Browse Tenant Leases or Browse Customers screen appears with all current leases or active customers displayed in a table.

Select how you want to order the tenant or customer table from the ordered by drop-down list, enter the search criteria in the search for field and click GO. The first tenant/customer to match the criteria is highlighted in the table.

Highlight the tenant/customer record you want to work with and click

on the toolbar.

Select “Add Receivable Credit Memo” from the menu that appears. The Add Receivable Credit Memo Wizard is initiated.

Hint: You can also access the Add Receivable Credit Memo Wizard from the Account Summary and Account Details tabs on either the Tenant Management screen (for tenants), or the Maintain Customer Information screen (for customers who are also tenants).

Hint: The non-editable customer name field appears at the top of the screens. Use this to verify that you are entering information for the correct account belonging to the correct tenant/customer.

Select the account to which you are adding the receivable credit memo. You can add a receivable credit memo to escrow accounts only.

This is your agency-defined list of account types, which you maintain in the Setup area of the program. See "Setting Up Account Types"

Enter a description for the receivable credit memo and specify the date the receivable credit memo takes effect.

Enter the amountof the receivable credit memo and click START to continue.

Review and confirm the receivable credit memo information you have set up and click FINISH to add the receivable credit memo to the tenant/customer account.