Accounting > A/R > Manage Cash Receipt
Use this article to assist in the process of creating and managing cash receipts.
A cash receipt is used to record payments (checks, lockbox payments, online payments) from owners that will reduce the owner balances and ultimately increase cash in the bank. Adding a cash receipt batch will update the owner balances and the GL as soon as it is saved and posted.
A cash receipt updates the bank account when the cash receipt batch is deposited. The single cash receipt batch can be a deposit or multiple cash receipt batches can be combined into a single deposit. We recommend that the uManage deposits match the physical deposits to the bank as this makes reconciliation much easier.
To Add a New Cash Receipt
Step 1. Select Accounting > A/R > Manage Cash Receipts. This page will display the active cash receipts previously created.
Step 2. Select Add Cash Receipt from the Page Action drop down menu.
Step 3. Complete the Add/Edit Receipt pop up window.
Association- Select the correct Association from the drop down menu.
Type- Select the batch type from the drop down menu.
Cash Receipts- Payments made via a check scanner (if applicable) or a deposit of payments made directly to the bank.
Lockbox- Payments received by the Bank directly via a Lock Box service.
Online Payment- Payments made by Charge or Debit cards online
Payment Type- Select the Payment Type from the drop down menu. If you need to add a new Payment Type, click here for more information. Accounting >A/R > A/R Setup > Manage Firm Trans Type - CLICK HERE for more information.
Date- Enter the date of the deposit.
Amount- Enter the total amount of the deposit.
Bank Account- Select the correct bank from the dropdown menu.
NOTE- If a bank account is not chosen, or if the bank account is removed, the deposit will need to be processed separately.
Posted- This box will automatically be checked once the payment has been posted.
Memo- Enter additional information for the deposit if needed. NOTE- Memo will show in general ledger.
Description- Enter additional information for the deposit if needed. NOTE- Description will not
Step 3. Complete the Account portion of the pop up window.
Account- Select the Account from the dropdown. If this association has a larger list of Accounts, the "Select" feature may not be available. In this case, begin entering entering the Account id, Name or Unit Address in the "Account" field for lookup. Accounts with a 'hold payment' status will be displayed in red and former Accounts will be displayed in orange.
NOTE- To add accounts within the Account section, highlight “SELECT” to clear the field and begin typing details of the account in question for the information to populate in the menu.
Date- Enter the date of the deposit.
NOTE- Entering a date that differs from the deposit date can cause issues balancing the general ledger and aging/prepaid reports.
Amount- Enter the amount of the payment to be applied to the Account previously entered.
NOTE- A single check can be allocated to multiple accounts by entering the same check number on multiple lines referencing different accounts. For example, if a single check for $1500 is to be allocated to 3 accounts, enter the three accounts with a check amount of $500 each.
Type- This field defaults to Check, click the dropdown list to select a different type.
Check Number- Enter the check number, if applicable.
Memo- Add additional information here. This field will display on the owner's account.
Apply the Payment
The payment is automatically applied to the open owner balances based on the payment application priority. Overrides may be completed within this default application by clicking the Apply link. The payment may be applied to transactions with an open balance in the Open Charges portion of the pop up window pictured below.
NOTE- During payment application, only Trans Types that are properly linked to a GL account are available. The available trans types are maintained on the Financial | Association GL Setup page. CLICK HERE for more information.
Import Charges from an Excel Spreadsheet
The Excel import can be used to quickly add payment details from an external source such as a non-integrated bank lockbox.
Step 1. Navigate to Accounting > A/R > Manage Cash Receipts.
Step 2. Click on the Add Cash Receipt button.
Step 3. Click on the Import from Excel button at the bottom of the page.
Step 4. Prepare your Excel Spreadsheet with the following column headers:
AccountId - Enter the Account ID for the homeowner account
Amount- Enter the amount of the payment
Trans Type - Enter the name of the Transaction Type. NOTE- Only Trans Types set to a General Ledger account will properly upload.
Check Number - Enter the Check number
Memo - Enter a Memo to display on the account.
Step 5. Copy all data in the spreadsheet along with the column headers and paste into the text field.
Step 6. Click the Save button to complete the upload.
Step 7. Each entry on the spreadsheet will show up on a line item on the Account Charge Screen. Review the entries for accuracy.
Step 8. Complete these fields on the upper portion of the screen, if applicable.
Amount- Enter the total amount of all payments. Example if you’re adding four payments of $25 each, you would enter $100 in this field.
Memo- Enter additional information for the Cash Receipt if needed. NOTE- Memo will show in general ledger.
Description- Enter additional information for the Cash Receipt if needed. NOTE- Description will not show up on general ledger.
Step 9. Review the Open charges at the bottom of the screen to make sure the full amount has been entered. When completed correctly the Open amount should be 0.00.
Step 10. When you have verified that the entry balances, click the Save and Post button to finalize.
Prepaid Accounts
The Prepaid section allows you to apply a portion of a payment to a General Ledger account, rather than to a homeowner’s account. The payment can then be used to record a single owner check that applies to accounts in different associations. In this case, the GL account will be a "Due To Association" GL Account.
