Adding Recurring Credit Memos

You can add a recurring credit memo to add a recurring credit adjustment to the balance of a customer’s accounts receivable accounts (AR), revolving charge accounts, or mortgage accounts.

You can also add non-recurring credit memos, as well as add receivable credit memos to escrow accounts. See "Adding Credit Memos/Adjustments"; See "Adding Receivable Credit Memos"

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 double-click, or click

. The Tenant Management screen or Maintain Customer Information screen opens with the Tenant Information tab or Account Summary tab selected.

Select the Recurring Transactions tab. Displayed in a table are all the tenant's/customer’s recurring transactions.

Click

on the toolbar, and select “Add Recurring Credit Memo” from the menu that appears. The Add Recurring Credit Memo Wizard is initiated.

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 credit memo/adjustment. You can add a recurring credit memo to AR accounts, revolving charge accounts, or mortgage 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"

Select the type of credit. This is usually the same “type” as the original charge that you are adjusting.

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

Enter a description for the credit memo and specify the amount of the credit memo (enter as a positive amount).

If necessary, enter a maximum amount. When this amount is reached, the recurring credit memo will stop.

10.

Specify the start month and start year, or when the recurring credit memo schedule begins.

Hint: If you set the start date to a future date, the credit memo will be applied the first time you generate monthly transactions on or after that date.

11.

Specify the end month and end year, or when the recurring credit memo schedule ends. The credit memo will stop permanently after if reaches this date. The default is blank, which means there is no end date. If you entered a maximum amount, the ending month and year will automatically calculate.

Note: The credit memo will stop permanently after it reaches the maximum amount or the end date, whichever comes first.

Hint: Use the start month and end month fields if the receivable is seasonal. The first credit memo of the season will be applied in the start month. The last credit memo of the season will be applied in the end month. The set of credit memos will repeat the following year, provided the credit memo has not yet reached an end date.

12.

Check the checkbox if there should be an active lease required for this transaction. If you check this box, the recurring credit memo is only applied if the tenant/customer has an active lease.

13.

Check the checkbox if you want to create the first month’s transaction on exit of the wizard. If you check this box, the credit memo is applied immediately, and it will be applied again the next time you generate monthly transactions.

14.

Click START to continue, review and confirm the information you have set up, and then click FINISH to add the recurring credit memo.The Recurring Transactions tabappears again with the new credit memo displayed in the table. You have successfully added a recurring credit memo!