Accounting > Financial > Transaction Adjustment

 

Use this page to make Adjustments to financial transactions such as correcting the amount of a cash receipt, changing the application of a payment or recording a returned item from the bank.



The Adjustments made to the owner's ledger are reflected in the general ledger, but the owner's ledger remains clean. The owner's ledger shows the final amount instead of the original amount and the Adjustment. 


NOTE-  Transaction Adjustment(s) can only be performed on transactions in an open GL period. CLICK HERE for more information. 


  • Change a cash receipt


  • Void a cash receipt


  • Modify the application of an owner payment/credit


  • Record a Returned Item/NSF


  • Move a payment to a different account


  • Void a transaction



Change a Cash Receipt


Step 1. Navigate to Accounting > Financial > Transaction Adjustment


Step 2. Use the page filters to find the Transaction to be edited. 

Step 3. If the payment has been applied, click the UnApply link to first remove the payment application. 


NOTE- You can only UnApply payments in an open Accounting Period. If the period has been closed you will first need to reopen it. CLICK HERE for more information.



Step 4. Click the Pencil icon to edit the details of the Transaction.  

Step 5. Edit details in the Cash Receipt portion.


  • Association- This information will auto-populate and cannot be edited.

  • Type- Select the correct Type from the drop down.

  • Payment Type- Select the correct Payment Type from the drop down.

  • Date - Change the date of the cash receipt batch.  This will change the GL posting date.

  • Amount - Change the amount of the payment. 

  • Bank Account- Change the bank account the payment was deposited to.

  • Memo - Add a Memo for the transaction, if needed. Note- this will appear on the GL record.

  • Description - Add a Description for the transaction, if needed. Note- this will appear on the GL.

Step 6. Edit the Account portion.


  • Date - Change the date of the cash receipt.

  • Amount - Change the amount of the payment. 

  • Check - Edit or add a check number.

  • Memo - Add a Memo for the transaction, if needed. Note- this will appear on the owner’s account.

Step 7. Click Save and Post when completed.


Void a Cash Receipt


A cash receipt can be voided if the payment was incorrectly posted to the owner account. 


NOTE- If the payment is part of a larger deposit/batch, deleting it may cause issues with your bank reconciliation(s). 


Step 1. Navigate to Accounting > Financial > Transaction Adjustment


Step 2. Use the page filters to find the Transaction to be edited. 


Step 3. Click the large Trash icon that corresponds to the transaction you want to void.


NOTE- If the payment has already been applied to account charges, it will need to be unapplied prior to voiding. CLICK HERE for more information. 



Step 4. Click OK in the confirmation window. 



A cash receipt can also be voided two different ways. 


Manage Cash Receipts page CLICK HERE for more information.


or Find Account > Transactions tab CLICK HERE for more information. 


Modify the Application of an Owner Payment/Credit


Step 1. Navigate to Accounting > Financial > Transaction Adjustment


Step 2. Use the page filters to find the Transaction to be edited.


Step 3. Click the highlighted link ReApply to open a new window.



Step 4. Click the Unapply Payment button to remove the previous payment application.



Step 5. Enter the amount of the payment to be applied to each Open Charge or click on the green dots to automatically enter the full amount due for the corresponding Open Charge. 


NOTE-  You can also click the Apply Payment button to auto-apply based on the default Payment Application Priority. 



Step 6. Click Save when completed.


UnApply Owner Payment or Credit


Step 1. Navigate to Accounting > Financial > Transaction Adjustment


Step 2. Use the page filters to find the Transaction to be edited. 


Step 3. Click the highlighted link UnApply to open a new window.



Step 4. Enter the date for the UnApply.

Step 4. Click the Save button to finalize.


Record a Returned Item/NSF

 

A Returned Item is a Cash Receipt that has been rejected by the Bank as it could not be processed against the originator's account. An NSF (the most common reason for a Returned Item) occurs when there are insufficient funds to pay the check. The Returned Item/NSF process in eUnify will automatically create all necessary accounting adjustments, both internally and on the Owner account. 

 

CLICK HERE for more information on how to Set up and utilize the NSF function. 

 

Transfer a Payment to a different account


Use this feature to easily transfer a payment to a different account within the same Association, or to an account in a different Association. 

 

Step 1. Navigate to Accounting > Financial > Transaction Adjustment


Step 2. Use the page filters to find the Transaction to be edited. 


Step 3. Click the highlighted link Move Payment to open a new window.


 

Step 4. Complete the fields below. 

 

To Association- This will default to the Association to which the payment is currently posted. To move to a different Association, select it from the dropdown menu. 

 

NOTE- If the move is to an account in the same association a special revenue clearing account is used.

 

NOTE- If the move is to a different association, the process creates a liability in the 'From' association (Due To Liability GL Account) and a receivable in the 'To' association (Due From Receivable GL Account).  Both associations will need to update their Move Payment accounts in the Association GL Setup page, then the payment will be moved automatically.  The adjusting entries need to be manually made in both the 'From' and 'To' associations to zero out the Due To and Due From accounts. 

 

  • To Account- Select the Account to which the payment should be moved to. 

 

  • Amount- Enter the Amount to be moved. You can move all or part of the original payment. 

 

  • Trans Date- Enter the date you want the transaction to post on the account. 

 

 

This process adds a charge to the From account and a credit to the To account and also creates the appropriate GL entries based on the adjustment values for the association. 


Step 5. Once selected, the Distribution grid shows a summary of the transactions that will be created.

Step 6.  Click the Save button to finalize the move.